Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0114%/8h= −12.4% APRpaid last 24h +0.043%

Price spread now: Bitget against Nado+0.105%7-day average +0.029% · 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−$133as in the Price arb table

costs, in and out, $10k−$1401.402% of the position

Long on Nado Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.234%+$23 on $10k

Price spread, last 3 days (all we have)−0.172%−$17 · spread now +0.105%, 7d avg +0.029%

Together, before fees+0.062%+ Points / potential airdropNado: Active · farm board+$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.075% dearer against Nado than usual: you sell high and buy low (spread +0.105% now, against its 7-day average of +0.029%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.2 days. Mind the row above: over the last 3 days funding on this pair paid +0.234%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PONS-PERP	0.5985	0.0214	pay 0.0027% / 1h	19m 24s	$91K	$103K	5x
Short	Bitget PONSUSDT	0.5991	0.0100	get 0.0050% / 4h	1h 19m	$4.7M	$11.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpFee BitgetbpOrdersPrice spread, now +0.105%Rate

Funding earned: −$23.84
Price spread: +0.105% → +0.029%: $7.55
Slippage, 4 orders: −$128.16
Fee Nado: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$156.45
Costs to cover: 1.402%
Break-even: never at this rate

Slippage from Nado: live order book, 54 min ago; Bitget: live order book, 4 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 Nado live order book, 54 min ago	16.14 bp	50.1 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	3.26 bp	16.5 bp −$17	38.9 bp −$389	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 −0.0034%	1h	0.5979	−0.088%	$219K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.253%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5985	+0.006%	$19K	$439K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5986	+0.023%	$17.9M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5986	+0.023%	$13.5M	$56.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5986	+0.016%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDTshort	+0.0100%	4h	0.5991	+0.105%	$4.7M	$11.6M	20x
Variational Omni PONS	+0.0100%	4h	0.5988	+0.052%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5993	+0.135%	$35K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5993	+0.141%	$3K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5990	+0.090%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5982	−0.036%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5999	+0.243%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5982	−0.044%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5987	+0.040%	$373	—	3x	as long as short
Aster PONSUSDT	+0.0140%	4h	0.5985	+0.002%	$1.1M	$2.2M	20x	as long as short
Binance PONSUSDT	+0.0186%	4h	0.5988	+0.063%	$39.0M	$97.8M	20x	as long as short
MEXC PONS_USDT	+0.0190%	4h	0.5984	−0.011%	$7.8M	$4.9M	20x	as long as short
Extended PONS-USD	+0.0192%	1h	0.5985	+0.003%	$248K	$667K	5x	as long as short
BingX PONS-USDT	+0.0192%	4h	0.5986	+0.023%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0192%	4h	0.5985	+0.002%	$21K	$293K	10x	as long as short
Nado PONS-PERPlong	+0.0214%	1h	0.5985	long leg	$91K	$103K	5x
Lighter RH PONS	+0.0360%	1h	0.5988	+0.054%	$423K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0431%	4h	0.5986	+0.023%	$1.7M	$980K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5985	+0.013%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0490%	1h	0.5986	+0.023%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0671%	1h	0.5989	+0.076%	$60.5M	$30.1M	3x	as long as short
Lighter PONS	+0.0688%	1h	0.5987	+0.038%	$1.7M	$998K	3x	as long as short
Gate PONS_USDT	+0.1354%	4h	0.5985	+0.006%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5991	+0.108%	$30K	$96K	3x	as long as short