Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: Nado against Variational Omni+0.032%7-day average −0.008% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.026%+$3 on $10k

Price spread, last 3 days (all we have)+0.074%+$7 · spread now +0.032%, 7d avg −0.008%

Together, before fees+0.101%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.040% dearer against Variational Omni than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PONS	0.6124	0.0100	pay 0.0050% / 4h	31m 13s	$1.4M	$4.2M	—
Short	Nado PONS-PERP	0.6126	0.0100	get 0.0012% / 1h	31m 13s	$88K	$107K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee NadobpOrdersPrice spread, now +0.032%Rate

Funding earned: $0
Price spread: +0.032% → −0.008%: $4
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 0 bp × 2 orders: $0
Net: $4
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Nado: live order book, 37 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 3 min ago	4.89 bp	doesn't fit	40.8 bp −$408	doesn't fit	doesn't fit
Sell Nado live order book, 37 min ago	17.17 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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.528%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0034%	1h	0.6118	−0.111%	$236K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6125	+0.012%	$426K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6127	+0.044%	$20K	$439K	20x	as long as short
Nado PONS-PERPshort	+0.0100%	1h	0.6126	+0.032%	$88K	$107K	5x
Bybit PONSUSDT	+0.0100%	4h	0.6121	−0.054%	$18.5M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6123	−0.021%	$14.0M	$58.1M	20x	as long as short
Variational Omni PONSlong	+0.0100%	4h	0.6124	long leg	$1.4M	$4.2M	—
ApeX Omni PONSUSDT	+0.0100%	1h	0.6127	+0.044%	$34K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6130	+0.093%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.6129	+0.074%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6124	0.000%	$28K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6137	+0.199%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6127	+0.044%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0116%	4h	0.6126	+0.026%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0142%	4h	0.6127	+0.046%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0160%	1h	0.6124	−0.003%	$382	—	3x	as long as short
Aster PONSUSDT	+0.0169%	4h	0.6124	−0.012%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0224%	1h	0.6127	+0.044%	$1.7M	$922K	3x	as long as short
BingX PONS-USDT	+0.0302%	4h	0.6124	−0.005%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0304%	1h	0.6125	+0.010%	$253K	$682K	5x	as long as short
MEXC PONS_USDT	+0.0304%	4h	0.6126	+0.028%	$8.1M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0305%	4h	0.6128	+0.055%	$40.1M	$98.7M	20x	as long as short
edgeX PONSUSDC	+0.0313%	4h	0.6129	+0.071%	$21K	$294K	10x	as long as short
BloFin PONS-USDT	+0.0545%	4h	0.6130	+0.093%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0664%	1h	0.6127	+0.038%	$42K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6125	+0.014%	$48K	$96K	3x	as long as short
Hyperliquid PONS	+0.0908%	1h	0.6129	+0.082%	$62.3M	$30.4M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6126	+0.026%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2280%	4h	0.6119	−0.086%	$5.4M	$6.3M	20x	as long as short