Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0534%/8h= +58.5% APRpaid last 24h +0.102%

Price spread now: edgeX against Popdex−0.029%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$245as in the Price arb table

costs, in and out, $10k−$2432.432% of the position

Long on Popdex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.349%+$35 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.029%, 7d avg −0.006%

Together, before fees+0.448%+ Points / potential airdropedgeX: Active · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.022% cheaper against Popdex than usual: you would sell low and buy high (spread −0.029% now, against its 7-day average of −0.006%). If the spread goes back, that is −$2 on $10k: about 3 hours of funding at the current rate (+$16 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex PONSUSDT	0.5939	0.0096	pay 0.0012% / 1h	49m 18s	$21K	$417K	20x
Short	edgeX PONSUSDC	0.5937	0.0630	get 0.0315% / 4h	2h 49m	$20K	$295K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Popdex. 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 PopdexbpFee edgeXbpOrdersPrice spread, now −0.029%Rate

Funding earned: $112.16
Price spread: −0.029% → −0.006%: −$2.23
Slippage, 4 orders: −$227.77
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$133.24
Costs to cover: 2.432%
Break-even: 15.3 days

Slippage from Popdex: live order book, 64 min ago; edgeX: live order book, 64 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 Popdex live order book, 64 min ago	6.36 bp	81.2 bp −$81	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 64 min ago	11.60 bp	20.1 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
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0032%	1h	0.5928	−0.178%	$236K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.514%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5938	−0.019%	$415K	$2.5M	3x	as long as short
Popdex PONSUSDTlong	+0.0096%	1h	0.5939	long leg	$21K	$417K	20x
Nado PONS-PERP	+0.0100%	1h	0.5939	0.000%	$69K	$130K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5935	−0.067%	$5.2M	$6.2M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5933	−0.098%	$34K	$335K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5945	+0.096%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5931	−0.131%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5937	−0.027%	$26K	$545K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDT	+0.0100%	4h	0.5958	+0.322%	$64K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5938	−0.017%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5947	+0.138%	$371	—	3x	as long as short
Hyperliquid PONS	+0.0306%	1h	0.5935	−0.072%	$60.1M	$29.0M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0383%	4h	0.5937	−0.034%	$13.5M	$54.8M	20x	as long as short
Aster PONSUSDT	+0.0504%	4h	0.5938	−0.021%	$1.1M	$2.2M	20x	as long as short
Variational Omni PONS	+0.0529%	4h	0.5941	+0.033%	$1.4M	$4.1M	—	as long as short
Bitget PONSUSDT	+0.0552%	4h	0.5940	+0.022%	$4.7M	$11.8M	20x	as long as short
Extended PONS-USD	+0.0616%	1h	0.5940	+0.023%	$106K	$807K	5x	as long as short
MEXC PONS_USDT	+0.0618%	4h	0.5940	+0.017%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0620%	4h	0.5940	+0.017%	$38.8M	$94.7M	20x	as long as short
edgeX PONSUSDCshort	+0.0630%	4h	0.5937	−0.029%	$20K	$295K	10x
Lighter PONS	+0.0680%	1h	0.5939	+0.002%	$1.6M	$886K	3x	as long as short
Pacifica PONS	+0.0715%	1h	0.5940	+0.019%	$46K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0738%	4h	0.5938	−0.008%	$1.6M	$3.8M	20x	as long as short
BingX PONS-USDT	+0.0762%	4h	0.5938	−0.017%	—	$3.0M	—	as long as short
Polymarket Perps PONS-USD	+0.0832%	1h	0.5937	−0.029%	$88K	$1.7M	3x	as long as short
Bybit PONSUSDT	+0.0837%	4h	0.5937	−0.034%	$17.8M	$31.0M	20x	as long as short
BloFin PONS-USDT	+0.0861%	4h	0.5941	+0.034%	$1.7M	$945K	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5940	+0.024%	$45K	$121K	3x	as long as short