Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.067%

Price spread now: Nado against Gate−0.186%50s7-day average +0.057% · 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—prices read too far apart to compare

costs, in and out, $10k−$1441.436% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.322%−$32 on $10k

Price spread, last 4 days (all we have)+0.397%+$40 · spread now −0.186%, 7d avg +0.057%

Together, before fees+0.076%+ Points / potential airdropNado: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Nado is 0.243% cheaper against Gate than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of +0.057%). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PONS_USDT	0.5906	0.0272	pay 0.0136% / 4h	1h 55m	$5.2M	$6.3M	20x
Short	Nado PONS-PERP	0.5895	0.0100	get 0.0012% / 1h	55m 34s	$69K	$131K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Gate. 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 GatebpFee NadobpOrdersPrice spread, now −0.186%Rate

Funding earned: −$36.12
Price spread: −0.186% → +0.057%: −$24.31
Slippage, 4 orders: −$128.64
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 0 bp × 2 orders: $0
Net: −$204.07
Costs to cover: 1.436%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Nado: live order book, 43 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 Gate live order book, 3 min ago	1.69 bp	26.6 bp −$27	169.9 bp −$1,699	doesn't fit	doesn't fit
Sell Nado live order book, 43 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	0.5891	−0.251%	$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	0.5910	+0.066%	$407K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5906	0.000%	$21K	$421K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5903	−0.051%	$2K	$3K	10x	as long as short
Nado PONS-PERPshort	+0.0100%	1h	0.5895	−0.186%	$69K	$131K	5x
ApeX Omni PONSUSDT	+0.0100%	1h	0.5896	−0.174%	$29K	$329K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5904	−0.032%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5898	−0.139%	$25K	$589K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5913	+0.122%	$64K	$524K	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	0.5900	−0.102%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.5897	−0.154%	$367	—	3x	as long as short
Gate PONS_USDTlong	+0.0272%	4h	0.5906	long leg	$5.2M	$6.3M	20x
Hyperliquid PONS	+0.0344%	1h	0.5914	+0.135%	$60.1M	$29.6M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0430%	4h	0.5910	+0.068%	$13.4M	$55.7M	20x	as long as short
Polymarket Perps PONS-USD	+0.0449%	1h	0.5898	−0.135%	$91K	$1.9M	3x	as long as short
Aster PONSUSDT	+0.0469%	4h	0.5903	−0.050%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5912	+0.103%	$45K	$69K	3x	as long as short
Binance PONSUSDT	+0.0571%	4h	0.5906	0.000%	$37.1M	$98.6M	20x	as long as short
Extended PONS-USD	+0.0576%	1h	0.5911	+0.093%	$101K	$811K	5x	as long as short
MEXC PONS_USDT	+0.0578%	4h	0.5912	+0.102%	$7.5M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0599%	4h	0.5920	+0.233%	$20K	$293K	10x	as long as short
Bitget PONSUSDT	+0.0654%	4h	0.5911	+0.090%	$4.7M	$12.2M	20x	as long as short
Variational Omni PONS	+0.0661%	4h	0.5894	−0.204%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0684%	4h	0.5910	+0.075%	$1.6M	$3.8M	20x	as long as short
BloFin PONS-USDT	+0.0822%	4h	0.5905	−0.017%	$1.7M	$956K	20x	as long as short
BingX PONS-USDT	+0.0882%	4h	0.5906	0.000%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0915%	4h	0.5902	−0.068%	$17.6M	$31.5M	20x	as long as short
Lighter PONS	+0.0952%	1h	0.5913	+0.124%	$1.6M	$822K	3x	as long as short
Phoenix PONS	+0.1719%	1h	0.5909	+0.044%	$45K	$120K	3x	as long as short