Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0730%/8h= −79.9% APRpaid last 24h −0.103%

Price spread now: Nado against BloFin−0.017%7-day average −0.041% · 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−$125as in the Price arb table

costs, in and out, $10k−$1271.273% of the position

Long on BloFin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.410%−$41 on $10k

Price spread, last 4 days (all we have)−0.187%−$19 · spread now −0.017%, 7d avg −0.041%

Together, before fees−0.596%+ Points / potential airdropNado: Active · farm board−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.024% dearer against BloFin than usual: you sell high and buy low (spread −0.017% now, against its 7-day average of −0.041%): +$2 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PONS-USDT	0.5920	0.0829	pay 0.0415% / 4h	2h 01m	$1.7M	$959K	20x
Short	Nado PONS-PERP	0.5919	0.0100	get 0.0012% / 1h	1m 07s	$69K	$131K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against BloFin. 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 BloFinbpFee NadobpOrdersPrice spread, now −0.017%Rate

Funding earned: −$153.2
Price spread: −0.017% → −0.041%: $2.42
Slippage, 4 orders: −$115.33
Fee BloFin: 6 bp × 2 orders: −$12
Fee Nado: 0 bp × 2 orders: $0
Net: −$278.11
Costs to cover: 1.273%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Nado: live order book, 37 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 BloFin live order book, 2 min ago	0.85 bp	9.8 bp −$10	26.9 bp −$269	doesn't fit	doesn't fit
Sell Nado live order book, 37 min ago	16.44 bp	46.9 bp −$47	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	0.5910	−0.166%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.836%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5917	−0.051%	$407K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5919	−0.017%	$21K	$422K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5924	+0.059%	$2K	$3K	10x	as long as short
Nado PONS-PERPshort	+0.0100%	1h	0.5919	−0.017%	$69K	$131K	5x
ApeX Omni PONSUSDT	+0.0100%	1h	0.5905	−0.257%	$29K	$329K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5919	−0.020%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5918	−0.029%	$26K	$585K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5913	−0.125%	$64K	$525K	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	0.5917	−0.051%	$1.6M	$3.2M	20x	as long as short
Gate PONS_USDT	+0.0154%	4h	0.5912	−0.135%	$5.2M	$6.4M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5919	−0.011%	$369	—	3x	as long as short
Hyperliquid PONS	+0.0237%	1h	0.5924	+0.074%	$60.2M	$29.6M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0425%	4h	0.5921	+0.017%	$13.4M	$55.9M	20x	as long as short
Aster PONSUSDT	+0.0481%	4h	0.5922	+0.032%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0586%	4h	0.5920	0.000%	$7.5M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0589%	4h	0.5923	+0.055%	$37.3M	$98.6M	20x	as long as short
Extended PONS-USD	+0.0592%	1h	0.5920	+0.008%	$101K	$811K	5x	as long as short
edgeX PONSUSDC	+0.0600%	4h	0.5911	−0.152%	$20K	$296K	10x	as long as short
Bitget PONSUSDT	+0.0648%	4h	0.5924	+0.073%	$4.7M	$12.3M	20x	as long as short
Variational Omni PONS	+0.0659%	4h	0.5914	−0.093%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0684%	4h	0.5923	+0.054%	$1.6M	$3.8M	20x	as long as short
Pacifica PONS	+0.0715%	1h	0.5918	−0.033%	$45K	$69K	3x	as long as short
Polymarket Perps PONS-USD	+0.0741%	1h	0.5917	−0.042%	$87K	$1.9M	3x	as long as short
BloFin PONS-USDTlong	+0.0829%	4h	0.5920	long leg	$1.7M	$959K	20x
Lighter PONS	+0.0840%	1h	0.5919	−0.010%	$1.6M	$941K	3x	as long as short
BingX PONS-USDT	+0.0898%	4h	0.5925	+0.084%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0932%	4h	0.5921	+0.017%	$17.6M	$31.5M	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5909	−0.193%	$45K	$121K	3x	as long as short