Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0302%/8h= −33.1% APRpaid last 24h −0.084%

Price spread now: SoDEX against MEXC+0.025%7-day average −0.001% · 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−$131as in the Price arb table

costs, in and out, $10k−$1331.332% of the position

Long on MEXC Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.282%−$28 on $10k

Price spread, last 3 days (all we have)+0.039%+$4 · spread now +0.025%, 7d avg −0.001%

Together, before fees−0.243%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.026% dearer against MEXC than usual: you sell high and buy low (spread +0.025% now, against its 7-day average of −0.001%): +$3 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PONS_USDT	0.6026	0.0402	pay 0.0201% / 4h	2h 38m	$7.7M	$4.7M	20x
Short	SoDEX PONS-USD	0.6028	0.0100	get 0.0013% / 1h	38m 40s	$26K	$527K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against MEXC. 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 MEXCbpFee SoDEXbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$63.42
Price spread: +0.025% → −0.001%: $2.59
Slippage, 4 orders: −$125.24
Fee MEXC: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$194.07
Costs to cover: 1.332%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; SoDEX: live order book, 30 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 MEXC live order book, 4 min ago	2.48 bp	5.7 bp −$6	16.9 bp −$169	399.9 bp −$40.0K	doesn't fit
Sell SoDEX live order book, 30 min ago	1.79 bp	60.5 bp −$61	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 −0.0033%	1h	0.6016	−0.171%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.938%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6016	−0.166%	$20K	$424K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6040	+0.233%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6057	+0.516%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6024	−0.032%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6029	+0.051%	—	$1.3M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6028	+0.025%	$26K	$527K	3x
HTX PONS-USDT	+0.0100%	4h	0.6030	+0.073%	$64K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6020	−0.100%	$1.7M	$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	+0.0184%	1h	0.6020	−0.094%	$375	—	3x	as long as short
Lighter RH PONS	+0.0216%	1h	0.6026	+0.003%	$421K	$2.5M	3x	as long as short
KuCoin PONSUSDTM	+0.0224%	4h	0.6020	−0.098%	$1.7M	$3.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0226%	4h	0.6020	−0.100%	$13.8M	$55.5M	20x	as long as short
Bybit PONSUSDT	+0.0234%	4h	0.6021	−0.083%	$18.1M	$30.8M	20x	as long as short
Nado PONS-PERP	+0.0266%	1h	0.6017	−0.149%	$70K	$131K	5x	as long as short
Lighter PONS	+0.0280%	1h	0.6026	+0.002%	$1.7M	$883K	3x	as long as short
Bitget PONSUSDT	+0.0296%	4h	0.6025	−0.013%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0339%	4h	0.6018	−0.127%	$1.1M	$2.0M	20x	as long as short
BingX PONS-USDT	+0.0390%	4h	0.6023	−0.050%	—	$3.0M	—	as long as short
Binance PONSUSDT	+0.0398%	4h	0.6023	−0.050%	$39.5M	$96.0M	20x	as long as short
Extended PONS-USD	+0.0400%	1h	0.6021	−0.089%	$249K	$682K	5x	as long as short
MEXC PONS_USDTlong	+0.0402%	4h	0.6026	long leg	$7.7M	$4.7M	20x
edgeX PONSUSDC	+0.0407%	4h	0.6051	+0.416%	$21K	$291K	10x	as long as short
Gate PONS_USDT	+0.0642%	4h	0.6024	−0.033%	$5.3M	$6.1M	20x	as long as short
BloFin PONS-USDT	+0.0646%	4h	0.6065	+0.647%	$1.8M	$984K	20x	as long as short
Hyperliquid PONS	+0.0716%	1h	0.6029	+0.048%	$61.3M	$28.2M	3x	as long as short
Polymarket Perps PONS-USD	+0.0748%	1h	0.6026	−0.008%	$46K	$1.5M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6024	−0.040%	$47K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6050	+0.393%	$31K	$107K	3x	as long as short