Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0096%/8hnext payment +$0.48 per $10,000 · paid last 24h +0.003%

Price spread now: edgeX against KuCoin+0.186%53s7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1031.032% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.236%+$24 on $10k

Price spread, last 3 days (all we have)+0.271%+$27 · spread now +0.186%, 7d avg +0.028%

Together, before fees+0.507%+ Points / potential airdropedgeX: Active · farm board+$51 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and edgeX is 0.157% dearer against KuCoin than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.028%. The two prices were read 53 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	KuCoin PONSUSDTM	0.5887	0.0100	pay 0.0050% / 4h	4m 31s	$1.8M	$3.7M	20x
Short	edgeX PONSUSDC	0.5898	0.0196	get 0.0098% / 4h	4m 31s	$21K	$292K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against KuCoin. 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 KuCoinbpFee edgeXbpOrdersPrice spread, now +0.186%Rate

Funding earned: $20.24
Price spread: +0.186% → +0.028%: $15.74
Slippage, 4 orders: −$82.18
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$67.2
Costs to cover: 1.032%
Break-even: 30.2 days

Slippage from KuCoin: live order book, 2 min ago; edgeX: live order book, 27 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 KuCoin live order book, 2 min ago	6.62 bp	34.5 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 27 min ago	11.15 bp	20.0 bp −$20	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
Gate PONS_USDT	−0.0158%	4h	0.5886	−0.014%	$5.2M	$7.2M	20x	as long as short
Injective PONS/USDC PERP	−0.0008%	1h	0.5863	−0.406%	$603	$6K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0032%	1h	0.5882	−0.086%	$212K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5889	+0.037%	$21K	$495K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5886	−0.008%	$73K	$95K	5x	as long as short
Hyperliquid PONS	+0.0100%	1h	0.5891	+0.068%	$58.4M	$30.0M	3x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5886	−0.014%	$17.6M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5885	−0.031%	$13.2M	$55.9M	20x	as long as short
KuCoin PONSUSDTMlong	+0.0100%	4h	0.5887	long leg	$1.8M	$3.7M	20x
Bitget PONSUSDT	+0.0100%	4h	0.5892	+0.083%	$4.6M	$11.5M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONS	+0.0100%	4h	0.5895	+0.139%	$1.2M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5903	+0.280%	$34K	$316K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5894	+0.119%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5886	−0.008%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5887	+0.003%	$27K	$533K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5896	+0.149%	$63K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5886	−0.014%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5881	−0.091%	$366	—	3x	as long as short
Pacifica PONS	+0.0150%	1h	0.5889	+0.031%	$47K	$111K	3x	as long as short
Binance PONSUSDT	+0.0184%	4h	0.5889	+0.045%	$38.3M	$99.2M	20x	as long as short
Extended PONS-USD	+0.0192%	1h	0.5888	+0.025%	$88K	$537K	5x	as long as short
MEXC PONS_USDT	+0.0192%	4h	0.5888	+0.020%	$7.3M	$5.3M	20x	as long as short
BingX PONS-USDT	+0.0194%	4h	0.5889	+0.037%	—	$3.2M	—	as long as short
edgeX PONSUSDCshort	+0.0196%	4h	0.5898	+0.186%	$21K	$292K	10x
Aster PONSUSDT	+0.0198%	4h	0.5887	0.000%	$1.1M	$2.1M	20x	as long as short
Lighter RH PONS	+0.0200%	1h	0.5891	+0.076%	$395K	$2.5M	3x	as long as short
Polymarket Perps PONS-USD	+0.0251%	1h	0.5887	+0.012%	$54K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0432%	4h	0.5887	+0.003%	$1.7M	$976K	20x	as long as short
Lighter PONS	+0.0888%	1h	0.5895	+0.144%	$1.7M	$876K	3x	as long as short
Phoenix PONS	+0.1244%	1h	0.5898	+0.194%	$27K	$80K	3x	as long as short