Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0514%/8h= −56.3% APRpaid last 24h −0.013%

Price spread now: Nado against Bitget−0.110%7-day average −0.030% · 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−$139as in the Price arb table

costs, in and out, $10k−$1311.306% of the position

Long on Bitget Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.242%−$24 on $10k

Price spread, last 4 days (all we have)+0.159%+$16 · spread now −0.110%, 7d avg −0.030%

Together, before fees−0.084%+ Points / potential airdropNado: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Nado is 0.080% cheaper against Bitget than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PONSUSDT	0.5888	0.0614	pay 0.0307% / 4h	2h 14m	$4.6M	$12.2M	20x
Short	Nado PONS-PERP	0.5882	0.0100	get 0.0012% / 1h	14m 06s	$69K	$131K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bitget. 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 BitgetbpFee NadobpOrdersPrice spread, now −0.110%Rate

Funding earned: −$107.94
Price spread: −0.110% → −0.030%: −$8
Slippage, 4 orders: −$118.64
Fee Bitget: 6 bp × 2 orders: −$12
Fee Nado: 0 bp × 2 orders: $0
Net: −$246.58
Costs to cover: 1.306%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Nado: live order book, 24 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 Bitget live order book, 4 min ago	3.67 bp	15.9 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 24 min ago	16.44 bp	46.9 bp −$47	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	0.5875	−0.236%	$233K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.377%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5882	−0.110%	$410K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5883	−0.092%	$21K	$439K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5886	−0.041%	$2K	$3K	10x	as long as short
Nado PONS-PERPshort	+0.0100%	1h	0.5882	−0.110%	$69K	$131K	5x
Gate PONS_USDT	+0.0100%	4h	0.5880	−0.143%	$5.2M	$6.4M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5868	−0.352%	$29K	$329K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5880	−0.138%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5885	−0.063%	$25K	$586K	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	0.5891	+0.041%	$64K	$526K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5885	−0.058%	$1.6M	$3.2M	20x	as long as short
Hyperliquid PONS	+0.0209%	1h	0.5887	−0.032%	$59.7M	$29.6M	3x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.5877	−0.202%	$366	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0407%	4h	0.5886	−0.041%	$13.4M	$55.5M	20x	as long as short
Aster PONSUSDT	+0.0465%	4h	0.5877	−0.200%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0584%	1h	0.5882	−0.109%	$100K	$813K	5x	as long as short
MEXC PONS_USDT	+0.0586%	4h	0.5885	−0.058%	$7.5M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0588%	4h	0.5886	−0.037%	$37.4M	$98.7M	20x	as long as short
edgeX PONSUSDC	+0.0602%	4h	0.5877	−0.197%	$20K	$296K	10x	as long as short
Bitget PONSUSDTlong	+0.0614%	4h	0.5888	long leg	$4.6M	$12.2M	20x
Variational Omni PONS	+0.0630%	4h	0.5862	−0.456%	$1.3M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0700%	4h	0.5877	−0.190%	$1.6M	$3.8M	20x	as long as short
Lighter PONS	+0.0712%	1h	0.5883	−0.093%	$1.6M	$939K	3x	as long as short
Pacifica PONS	+0.0715%	1h	0.5878	−0.171%	$45K	$69K	3x	as long as short
Polymarket Perps PONS-USD	+0.0734%	1h	0.5881	−0.126%	$111K	$1.9M	3x	as long as short
BloFin PONS-USDT	+0.0828%	4h	0.5867	−0.363%	$1.7M	$941K	20x	as long as short
BingX PONS-USDT	+0.0888%	4h	0.5886	−0.041%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0981%	4h	0.5884	−0.075%	$17.6M	$31.6M	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5877	−0.194%	$45K	$121K	3x	as long as short