Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0238%/8h= +26.1% APRpaid last 24h +0.084%

Price spread now: MEXC against SoDEX−0.043%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1391.387% of the position

Long on SoDEX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.283%+$28 on $10k

Price spread, last 3 days (all we have)−0.043%−$4 · spread now −0.043%, 7d avg +0.003%

Together, before fees+0.240%+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.046% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.043% now, against its 7-day average of +0.003%). If the spread goes back, that is −$5 on $10k: about 15 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PONS-USD	0.6085	0.0100	pay 0.0013% / 1h	37m 19s	$28K	$552K	3x
Short	MEXC PONS_USDT	0.6082	0.0338	get 0.0169% / 4h	3h 37m	$7.9M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against SoDEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee SoDEXbpFee MEXCbpOrdersPrice spread, now −0.043%Rate

Funding earned: $49.98
Price spread: −0.043% → +0.003%: −$4.59
Slippage, 4 orders: −$130.74
Fee SoDEX: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$93.35
Costs to cover: 1.387%
Break-even: 20.1 days

Slippage from SoDEX: live order book, 36 min ago; MEXC: live order book, just now.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy SoDEX live order book, 36 min ago	0.82 bp	63.9 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, just now	1.64 bp	5.5 bp −$5	13.7 bp −$137	375.6 bp −$37.6K	doesn't fit

PONS on 30 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6076	−0.144%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.892%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6081	−0.061%	$431K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6083	−0.026%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6080	−0.083%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6081	−0.056%	$33K	$358K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6090	+0.084%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6085	−0.002%	—	$1.4M	10x	as long as short
SoDEX PONS-USDlong	+0.0100%	1h	0.6085	long leg	$28K	$552K	3x
HTX PONS-USDT	+0.0100%	4h	0.6096	+0.189%	$65K	$511K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6083	−0.026%	$1.7M	$3.2M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0133%	4h	0.6084	−0.010%	$13.8M	$57.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0164%	4h	0.6082	−0.038%	$1.8M	$3.8M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6084	−0.010%	$379	—	3x	as long as short
Bitget PONSUSDT	+0.0214%	4h	0.6086	+0.030%	$4.7M	$11.5M	20x	as long as short
Aster PONSUSDT	+0.0223%	4h	0.6082	−0.035%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0336%	1h	0.6084	−0.014%	$252K	$683K	5x	as long as short
Binance PONSUSDT	+0.0338%	4h	0.6085	+0.002%	$39.8M	$97.1M	20x	as long as short
MEXC PONS_USDTshort	+0.0338%	4h	0.6082	−0.043%	$7.9M	$4.8M	20x
edgeX PONSUSDC	+0.0350%	4h	0.6084	−0.010%	$21K	$293K	10x	as long as short
Lighter PONS	+0.0472%	1h	0.6084	−0.010%	$1.7M	$896K	3x	as long as short
BloFin PONS-USDT	+0.0578%	4h	0.6078	−0.108%	$1.7M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0595%	1h	0.6084	−0.010%	$105K	$115K	5x	as long as short
Gate PONS_USDT	+0.0620%	4h	0.6079	−0.092%	$5.3M	$6.2M	20x	as long as short
BingX PONS-USDT	+0.0650%	4h	0.6086	+0.023%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0663%	4h	0.6080	−0.076%	$18.2M	$31.0M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6081	−0.066%	$48K	$87K	3x	as long as short
Polymarket Perps PONS-USD	+0.0764%	1h	0.6087	+0.035%	$44K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0918%	1h	0.6087	+0.038%	$61.9M	$29.2M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6083	−0.018%	$31K	$113K	3x	as long as short