Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0507%/8h= −55.6% APRpaid last 24h −0.099%

Price spread now: Popdex against Binance+0.102%7-day average +0.008% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$226as in the Price arb table

costs, in and out, $10k−$2362.356% of the position

Long on Binance Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.337%−$34 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now +0.102%, 7d avg +0.008%

Together, before fees−0.414%−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.093% dearer against Binance than usual: you sell high and buy low (spread +0.102% now, against its 7-day average of +0.008%): +$9 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PONSUSDT	0.5906	0.0603	pay 0.0302% / 4h	2h 28m	$38.5M	$94.9M	20x
Short	Popdex PONSUSDT	0.5912	0.0096	get 0.0012% / 1h	28m 54s	$21K	$418K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Binance. 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 BinancebpFee PopdexbpOrdersPrice spread, now +0.102%Rate

Funding earned: −$106.57
Price spread: +0.102% → +0.008%: $9.32
Slippage, 4 orders: −$219.19
Fee Binance: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$332.84
Costs to cover: 2.356%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Popdex: live order book, 20 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 Binance live order book, 14 min ago	0.85 bp	11.3 bp −$11	34.9 bp −$349	doesn't fit	doesn't fit
Sell Popdex live order book, 20 min ago	7.57 bp	127.6 bp −$128	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 −0.0032%	1h	0.5900	−0.109%	$234K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.075%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5905	−0.024%	$412K	$2.6M	3x	as long as short
Popdex PONSUSDTshort	+0.0096%	1h	0.5912	+0.102%	$21K	$418K	20x
Nado PONS-PERP	+0.0100%	1h	0.5902	−0.074%	$69K	$130K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5900	−0.102%	$5.2M	$6.2M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5873	−0.552%	$29K	$332K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5909	+0.056%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5905	−0.014%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5912	+0.098%	$25K	$546K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDT	+0.0100%	4h	0.5909	+0.044%	$64K	$513K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5916	+0.169%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5902	−0.064%	$368	—	3x	as long as short
Hyperliquid PONS	+0.0237%	1h	0.5909	+0.052%	$60.2M	$29.2M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0382%	4h	0.5905	−0.017%	$13.4M	$54.7M	20x	as long as short
Aster PONSUSDT	+0.0472%	4h	0.5900	−0.101%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0536%	1h	0.5911	+0.083%	$1.6M	$887K	3x	as long as short
Bitget PONSUSDT	+0.0574%	4h	0.5913	+0.115%	$4.6M	$11.9M	20x	as long as short
Variational Omni PONS	+0.0594%	4h	0.5889	−0.295%	$1.4M	$4.1M	—	as long as short
MEXC PONS_USDT	+0.0598%	4h	0.5908	+0.034%	$7.4M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0600%	1h	0.5904	−0.028%	$100K	$812K	5x	as long as short
Binance PONSUSDTlong	+0.0603%	4h	0.5906	long leg	$38.5M	$94.9M	20x
edgeX PONSUSDC	+0.0621%	4h	0.5885	−0.362%	$20K	$296K	10x	as long as short
Pacifica PONS	+0.0715%	1h	0.5890	−0.278%	$45K	$69K	3x	as long as short
KuCoin PONSUSDTM	+0.0734%	4h	0.5907	+0.025%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0811%	1h	0.5909	+0.044%	$110K	$1.7M	3x	as long as short
BingX PONS-USDT	+0.0826%	4h	0.5907	+0.017%	—	$3.0M	—	as long as short
BloFin PONS-USDT	+0.0843%	4h	0.5905	−0.017%	$1.7M	$942K	20x	as long as short
Bybit PONSUSDT	+0.0878%	4h	0.5904	−0.034%	$17.7M	$31.1M	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5935	+0.498%	$45K	$121K	3x	as long as short