Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.067%

Price spread now: Orderly against Nado+0.400%129s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Nado Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.400% dearer against Nado than usual: you sell high and buy low, +$40 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 129 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	Nado PONS-PERP	0.5896	0.0100	pay 0.0012% / 1h	49m 14s	$69K	$131K	5x
Short	Orderly PERP_PONS_USDC_mythos	0.5920	0.0100	get 0.0050% / 4h	1h 49m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.400%Rate

Funding earned: −$0.05
Price spread: +0.400% → 0.000%: $39.97
Slippage, 4 orders: no order book: not counted
Fee Nado: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $33.92
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Nado: live order book, 49 min ago; Orderly: no order-book sample. Net counts fees only.

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, 49 min ago	16.44 bp	50.5 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.5905	+0.149%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.244%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5911	+0.249%	$404K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5913	+0.286%	$21K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythosshort	+0.0100%	4h	0.5920	+0.400%	$2K	$3K	10x
Nado PONS-PERPlong	+0.0100%	1h	0.5896	long leg	$69K	$131K	5x
ApeX Omni PONSUSDT	+0.0100%	1h	0.5892	−0.074%	$29K	$329K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5911	+0.261%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5912	+0.264%	$25K	$586K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5907	+0.188%	$64K	$525K	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	0.5909	+0.218%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.5913	+0.278%	$368	—	3x	as long as short
Gate PONS_USDT	+0.0260%	4h	0.5907	+0.184%	$5.3M	$6.3M	20x	as long as short
Hyperliquid PONS	+0.0343%	1h	0.5910	+0.231%	$60.0M	$29.6M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0420%	4h	0.5915	+0.320%	$13.4M	$55.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0453%	1h	0.5910	+0.228%	$91K	$1.9M	3x	as long as short
Aster PONSUSDT	+0.0473%	4h	0.5915	+0.315%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5910	+0.240%	$45K	$68K	3x	as long as short
MEXC PONS_USDT	+0.0560%	4h	0.5912	+0.269%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0565%	4h	0.5910	+0.235%	$37.2M	$98.5M	20x	as long as short
Extended PONS-USD	+0.0568%	1h	0.5910	+0.232%	$101K	$811K	5x	as long as short
edgeX PONSUSDC	+0.0584%	4h	0.5897	+0.014%	$20K	$294K	10x	as long as short
Variational Omni PONS	+0.0644%	4h	0.5912	+0.261%	$1.4M	$4.1M	—	as long as short
Bitget PONSUSDT	+0.0662%	4h	0.5916	+0.328%	$4.7M	$12.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0664%	4h	0.5913	+0.283%	$1.6M	$3.8M	20x	as long as short
Lighter PONS	+0.0792%	1h	0.5914	+0.301%	$1.6M	$828K	3x	as long as short
BloFin PONS-USDT	+0.0805%	4h	0.5908	+0.201%	$1.7M	$957K	20x	as long as short
BingX PONS-USDT	+0.0848%	4h	0.5911	+0.252%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0848%	4h	0.5912	+0.269%	$17.6M	$31.4M	20x	as long as short
Phoenix PONS	+0.1472%	1h	0.5894	−0.036%	$45K	$127K	3x	as long as short