Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0398%/8h= −43.5% APRpaid last 24h −0.034%

Price spread now: Nado against edgeX−0.045%7-day average −0.004% · 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−$136as in the Price arb table

costs, in and out, $10k−$1311.315% of the position

Long on edgeX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.168%−$17 on $10k

Price spread, last 4 days (all we have)+0.080%+$8 · spread now −0.045%, 7d avg −0.004%

Together, before fees−0.088%+ Points / potential airdropedgeX: Active · Nado: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Nado is 0.041% cheaper against edgeX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX PONSUSDC	0.5922	0.0498	pay 0.0249% / 4h	59m 18s	$20K	$291K	10x
Short	Nado PONS-PERP	0.5919	0.0100	get 0.0012% / 1h	59m 18s	$69K	$130K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against edgeX. 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 edgeXbpFee NadobpOrdersPrice spread, now −0.045%Rate

Funding earned: −$83.49
Price spread: −0.045% → −0.004%: −$4.12
Slippage, 4 orders: −$122.45
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 0 bp × 2 orders: $0
Net: −$219.06
Costs to cover: 1.315%
Break-even: never at this rate

Slippage from edgeX: live order book, 44 min ago; Nado: live order book, 34 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 edgeX live order book, 44 min ago	10.98 bp	19.4 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 34 min ago	16.33 bp	49.1 bp −$49	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 +0.0032% / S −0.0030%	1h	0.5911	−0.185%	$242K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5917	−0.079%	$409K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5917	−0.079%	$22K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5922	+0.009%	$2K	$3K	10x	as long as short
Nado PONS-PERPshort	+0.0100%	1h	0.5919	−0.045%	$69K	$130K	5x
ApeX Omni PONSUSDT	+0.0100%	1h	0.5918	−0.066%	$29K	$308K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5921	−0.011%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5917	−0.081%	$25K	$581K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5920	−0.028%	$64K	$526K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5920	−0.028%	$1.6M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0200%	1h	0.5919	−0.047%	$369	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0402%	4h	0.5917	−0.079%	$13.4M	$55.2M	20x	as long as short
Aster PONSUSDT	+0.0440%	4h	0.5919	−0.050%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0468%	4h	0.5918	−0.062%	$7.7M	$4.6M	20x	as long as short
Binance PONSUSDT	+0.0470%	4h	0.5918	−0.061%	$37.3M	$97.8M	20x	as long as short
Extended PONS-USD	+0.0472%	1h	0.5915	−0.107%	$101K	$806K	5x	as long as short
edgeX PONSUSDClong	+0.0498%	4h	0.5922	long leg	$20K	$291K	10x
Variational Omni PONS	+0.0529%	4h	0.5918	−0.054%	$1.4M	$4.1M	—	as long as short
Gate PONS_USDT	+0.0534%	4h	0.5917	−0.079%	$5.3M	$6.2M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5919	−0.053%	$45K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0578%	4h	0.5915	−0.109%	$1.6M	$3.8M	20x	as long as short
Bybit PONSUSDT	+0.0614%	4h	0.5915	−0.113%	$17.5M	$31.2M	20x	as long as short
BingX PONS-USDT	+0.0650%	4h	0.5914	−0.130%	—	$3.0M	—	as long as short
Bitget PONSUSDT	+0.0676%	4h	0.5920	−0.032%	$4.7M	$12.2M	20x	as long as short
BloFin PONS-USDT	+0.0710%	4h	0.5919	−0.045%	$1.7M	$939K	20x	as long as short
Lighter PONS	+0.0856%	1h	0.5921	−0.006%	$1.6M	$791K	3x	as long as short
Polymarket Perps PONS-USD	+0.0897%	1h	0.5918	−0.060%	$85K	$1.9M	3x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	+0.284%	$610	$10K	5.5x	as long as short
Hyperliquid PONS	+0.1176%	1h	0.5920	−0.034%	$60.1M	$29.6M	3x	as long as short
Phoenix PONS	+0.1472%	1h	0.5925	+0.051%	$45K	$127K	3x	as long as short