Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0475%/8h= −52.1% APRpaid last 24h −0.099%

Price spread now: Popdex against Binance+0.034%7-day average +0.008% · 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−$237as in the Price arb table

costs, in and out, $10k−$2402.397% of the position

Long on Binance Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.337%−$34 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.034%, 7d avg +0.008%

Together, before fees−0.346%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.025% dearer against Binance than usual: you sell high and buy low (spread +0.034% now, against its 7-day average of +0.008%): +$3 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PONSUSDT	0.5904	0.0571	pay 0.0286% / 4h	1h 55m	$37.1M	$98.6M	20x
Short	Popdex PONSUSDT	0.5906	0.0096	get 0.0012% / 1h	55m 23s	$21K	$421K	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 +0.034%Rate

Funding earned: −$99.84
Price spread: +0.034% → +0.008%: $2.54
Slippage, 4 orders: −$223.26
Fee Binance: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$336.96
Costs to cover: 2.397%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; Popdex: live order book, 53 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, 2 min ago	1.69 bp	14.1 bp −$14	41.1 bp −$411	doesn't fit	doesn't fit
Sell Popdex live order book, 53 min ago	7.57 bp	127.6 bp −$128	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	0.5891	−0.217%	$234K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.109%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5910	+0.100%	$407K	$2.5M	3x	as long as short
Popdex PONSUSDTshort	+0.0096%	1h	0.5906	+0.034%	$21K	$421K	20x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5911	+0.113%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5909	+0.089%	$69K	$131K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5896	−0.141%	$29K	$329K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5904	+0.002%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5898	−0.105%	$25K	$589K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5913	+0.156%	$64K	$524K	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	0.5900	−0.068%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.5897	−0.120%	$367	—	3x	as long as short
Gate PONS_USDT	+0.0272%	4h	0.5903	−0.017%	$5.2M	$6.3M	20x	as long as short
Hyperliquid PONS	+0.0333%	1h	0.5907	+0.054%	$60.0M	$29.6M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0425%	4h	0.5903	−0.017%	$13.4M	$55.6M	20x	as long as short
Polymarket Perps PONS-USD	+0.0439%	1h	0.5906	+0.029%	$91K	$1.9M	3x	as long as short
Aster PONSUSDT	+0.0469%	4h	0.5904	+0.007%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5912	+0.137%	$45K	$69K	3x	as long as short
Binance PONSUSDTlong	+0.0571%	4h	0.5904	long leg	$37.1M	$98.6M	20x
Extended PONS-USD	+0.0576%	1h	0.5911	+0.127%	$101K	$811K	5x	as long as short
MEXC PONS_USDT	+0.0578%	4h	0.5907	+0.051%	$7.5M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0599%	4h	0.5920	+0.267%	$20K	$293K	10x	as long as short
Bitget PONSUSDT	+0.0654%	4h	0.5908	+0.064%	$4.7M	$12.2M	20x	as long as short
Variational Omni PONS	+0.0661%	4h	0.5894	−0.170%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0684%	4h	0.5906	+0.037%	$1.6M	$3.8M	20x	as long as short
BloFin PONS-USDT	+0.0822%	4h	0.5905	+0.017%	$1.7M	$956K	20x	as long as short
BingX PONS-USDT	+0.0882%	4h	0.5902	−0.034%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0915%	4h	0.5902	−0.034%	$17.6M	$31.5M	20x	as long as short
Lighter PONS	+0.0952%	1h	0.5913	+0.158%	$1.6M	$822K	3x	as long as short
Phoenix PONS	+0.1719%	1h	0.5906	+0.034%	$45K	$127K	3x	as long as short