Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0206%/8h= −22.5% APRpaid last 24h −0.099%

Price spread now: Popdex against Binance+0.033%7-day average +0.006% · 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−$158as in the Price arb table

costs, in and out, $10k−$1611.606% of the position

Long on Binance Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.299%−$30 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now +0.033%, 7d avg +0.006%

Together, before fees−0.308%−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.027% dearer against Binance than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of +0.006%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PONSUSDT	0.6049	0.0302	pay 0.0151% / 4h	3h 55m	$39.6M	$97.9M	20x
Short	Popdex PONSUSDT	0.6051	0.0096	get 0.0012% / 1h	55m 06s	$20K	$417K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Binance. 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 BinancebpFee PopdexbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$43.21
Price spread: +0.033% → +0.006%: $2.71
Slippage, 4 orders: −$144.2
Fee Binance: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$201.11
Costs to cover: 1.606%
Break-even: never at this rate

Slippage from Binance: live order book, 3 min ago; Popdex: live order book, 19 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 Binance live order book, 3 min ago	0.82 bp	14.0 bp −$14	41.0 bp −$410	doesn't fit	doesn't fit
Sell Popdex live order book, 19 min ago	3.69 bp	70.4 bp −$70	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
Gate PONS_USDT	−0.1104%	4h	0.6037	−0.198%	$5.3M	$6.1M	20x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6041	−0.133%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.314%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6046	−0.050%	$423K	$2.5M	3x	as long as short
Popdex PONSUSDTshort	+0.0096%	1h	0.6051	+0.033%	$20K	$417K	20x
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6046	−0.050%	$13.7M	$57.2M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6066	+0.276%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6071	+0.365%	$33K	$357K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6052	+0.048%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6054	+0.074%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USD	+0.0100%	1h	0.6046	−0.058%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6058	+0.149%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6054	+0.083%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0150%	4h	0.6046	−0.048%	$1.7M	$3.8M	20x	as long as short
Aevo PONS-PERP	+0.0160%	1h	0.6053	+0.061%	$377	—	3x	as long as short
Aster PONSUSDT	+0.0160%	4h	0.6046	−0.045%	$1.1M	$2.2M	20x	as long as short
Bitget PONSUSDT	+0.0186%	4h	0.6049	+0.005%	$4.7M	$11.7M	20x	as long as short
Lighter PONS	+0.0200%	1h	0.6047	−0.033%	$1.7M	$894K	3x	as long as short
Binance PONSUSDTlong	+0.0302%	4h	0.6049	long leg	$39.6M	$97.9M	20x
MEXC PONS_USDT	+0.0302%	4h	0.6048	−0.017%	$7.9M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0304%	1h	0.6045	−0.068%	$250K	$679K	5x	as long as short
edgeX PONSUSDC	+0.0317%	4h	0.6066	+0.284%	$21K	$292K	10x	as long as short
Nado PONS-PERP	+0.0410%	1h	0.6056	+0.116%	$105K	$116K	5x	as long as short
BloFin PONS-USDT	+0.0542%	4h	0.6051	+0.033%	$1.7M	$1.0M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6054	+0.079%	$48K	$96K	3x	as long as short
Bybit PONSUSDT	+0.0721%	4h	0.6045	−0.066%	$18.2M	$31.3M	20x	as long as short
Polymarket Perps PONS-USD	+0.0808%	1h	0.6049	−0.005%	$42K	$1.6M	3x	as long as short
BingX PONS-USDT	+0.0916%	4h	0.6051	+0.033%	—	$3.1M	—	as long as short
Hyperliquid PONS	+0.1108%	1h	0.6050	+0.025%	$61.6M	$30.0M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6073	+0.402%	$31K	$113K	3x	as long as short