Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0419%/8h= −45.9% APRpaid last 24h +0.001%

Price spread now: KuCoin against Nado+0.231%7-day average −0.021% · 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−$143as in the Price arb table

costs, in and out, $10k−$1691.686% of the position

Long on Nado Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.095%+$10 on $10k

Price spread, last 3 days (all we have)−0.283%−$28 · spread now +0.231%, 7d avg −0.021%

Together, before fees−0.188%+ Points / potential airdropNado: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.252% dearer against Nado than usual: you sell high and buy low (spread +0.231% now, against its 7-day average of −0.021%): +$25 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 2.0 days. Mind the row above: over the last 3 days funding on this pair paid +0.095%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.095% in total (about 10.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PONS-PERP	0.6098	0.0607	pay 0.0076% / 1h	25m 10s	$105K	$115K	5x
Short	KuCoin PONSUSDTM	0.6112	0.0188	get 0.0094% / 4h	3h 25m	$1.8M	$3.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Nado. 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 NadobpFee KuCoinbpOrdersPrice spread, now +0.231%Rate

Funding earned: −$87.98
Price spread: +0.231% → −0.021%: $25.24
Slippage, 4 orders: −$156.63
Fee Nado: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$231.36
Costs to cover: 1.686%
Break-even: never at this rate

Slippage from Nado: live order book, 38 min ago; KuCoin: live order book, 2 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, 38 min ago	13.85 bp	46.8 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.29 bp	29.5 bp −$30	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	0.6101	+0.046%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.107%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6107	+0.148%	$432K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6103	+0.082%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6090	−0.131%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6126	+0.451%	$34K	$358K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6109	+0.189%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6111	+0.218%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6113	+0.249%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6114	+0.261%	$65K	$510K	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	0.6110	+0.197%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.6106	+0.133%	$380	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0178%	4h	0.6111	+0.213%	$13.9M	$57.1M	20x	as long as short
KuCoin PONSUSDTMshort	+0.0188%	4h	0.6112	+0.231%	$1.8M	$3.7M	20x
Bitget PONSUSDT	+0.0248%	4h	0.6115	+0.279%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0276%	4h	0.6101	+0.045%	$1.1M	$2.1M	20x	as long as short
Binance PONSUSDT	+0.0365%	4h	0.6112	+0.230%	$40.1M	$96.7M	20x	as long as short
MEXC PONS_USDT	+0.0366%	4h	0.6112	+0.230%	$8.0M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0368%	1h	0.6107	+0.154%	$253K	$679K	5x	as long as short
edgeX PONSUSDC	+0.0375%	4h	0.6118	+0.323%	$21K	$292K	10x	as long as short
Lighter PONS	+0.0464%	1h	0.6107	+0.148%	$1.7M	$932K	3x	as long as short
BloFin PONS-USDT	+0.0605%	4h	0.6117	+0.312%	$1.8M	$1.0M	20x	as long as short
Nado PONS-PERPlong	+0.0607%	1h	0.6098	long leg	$105K	$115K	5x
BingX PONS-USDT	+0.0648%	4h	0.6112	+0.230%	—	$3.1M	—	as long as short
Pacifica PONS	+0.0665%	1h	0.6099	+0.014%	$48K	$78K	3x	as long as short
Bybit PONSUSDT	+0.0683%	4h	0.6110	+0.197%	$18.4M	$30.9M	20x	as long as short
Polymarket Perps PONS-USD	+0.0770%	1h	0.6101	+0.057%	$44K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0887%	1h	0.6114	+0.264%	$62.2M	$29.3M	3x	as long as short
Gate PONS_USDT	+0.0996%	4h	0.6108	+0.164%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6106	+0.123%	$32K	$113K	3x	as long as short