Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0512%/8h= +56.1% APRpaid last 24h +0.063%

Price spread now: Nado against SunX−0.003%7-day average −0.051% · 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−$342as in the Price arb table

costs, in and out, $10k−$3463.465% of the position

Long on SunX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.153%+$15 on $10k

Price spread, last 3 days (all we have)−0.098%−$10 · spread now −0.003%, 7d avg −0.051%

Together, before fees+0.055%+ Points / potential airdropNado: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Nado is 0.048% dearer against SunX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.051%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.153% in total (about 17.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PONS-USDT	0.6094	0.0100	pay 0.0050% / 4h	3h 16m	—	$1.3M	10x
Short	Nado PONS-PERP	0.6094	0.0612	get 0.0076% / 1h	16m 57s	$105K	$115K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against SunX. 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 SunXbpFee NadobpOrdersPrice spread, now −0.003%Rate

Funding earned: $107.51
Price spread: −0.003% → −0.051%: $4.76
Slippage, 4 orders: −$338.46
Fee SunX: 4 bp × 2 orders: −$8
Fee Nado: 0 bp × 2 orders: $0
Net: −$234.19
Costs to cover: 3.465%
Break-even: 22.2 days

Slippage from SunX: live order book, 7 min ago; Nado: live order book, 47 min ago.

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 SunX live order book, 7 min ago	105.38 bp	124.1 bp −$124	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 47 min ago	13.85 bp	50.3 bp −$50	doesn't fit	doesn't fit	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	0.6079	−0.254%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.046%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6091	−0.056%	$429K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6095	+0.013%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6082	−0.200%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6093	−0.013%	$33K	$358K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6098	+0.056%	$2K	$3K	10x	as long as short
SunX PONS-USDTlong	+0.0100%	4h	0.6094	long leg	—	$1.3M	10x
SoDEX PONS-USD	+0.0100%	1h	0.6092	−0.039%	$28K	$544K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6103	+0.139%	$65K	$510K	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	0.6091	−0.053%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6082	−0.202%	$379	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0185%	4h	0.6100	+0.095%	$13.9M	$56.6M	20x	as long as short
KuCoin PONSUSDTM	+0.0198%	4h	0.6103	+0.146%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0262%	4h	0.6105	+0.179%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0271%	4h	0.6097	+0.050%	$1.1M	$2.1M	20x	as long as short
MEXC PONS_USDT	+0.0360%	4h	0.6100	+0.095%	$7.9M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0364%	4h	0.6102	+0.128%	$40.1M	$96.3M	20x	as long as short
Extended PONS-USD	+0.0368%	1h	0.6099	+0.078%	$252K	$678K	5x	as long as short
edgeX PONSUSDC	+0.0379%	4h	0.6082	−0.204%	$21K	$293K	10x	as long as short
Lighter PONS	+0.0424%	1h	0.6091	−0.048%	$1.7M	$933K	3x	as long as short
BingX PONS-USDT	+0.0560%	4h	0.6103	+0.144%	—	$3.1M	—	as long as short
BloFin PONS-USDT	+0.0604%	4h	0.6096	+0.030%	$1.8M	$990K	20x	as long as short
Nado PONS-PERPshort	+0.0612%	1h	0.6094	−0.003%	$105K	$115K	5x
Bybit PONSUSDT	+0.0614%	4h	0.6098	+0.062%	$18.3M	$30.9M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6092	−0.036%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0770%	1h	0.6093	−0.015%	$44K	$1.6M	3x	as long as short
Gate PONS_USDT	+0.0780%	4h	0.6089	−0.085%	$5.3M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0874%	1h	0.6098	+0.069%	$62.0M	$29.1M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6094	−0.008%	$32K	$113K	3x	as long as short