Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0582%/8h= −63.7% APRpaid last 24h −0.095%

Price spread now: SoDEX against Bitget−0.328%49s7-day average −0.032% · 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—prices read too far apart to compare

costs, in and out, $10k−$1641.641% of the position

Long on Bitget Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.430%−$43 on $10k

Price spread, last 4 days (all we have)+0.418%+$42 · spread now −0.328%, 7d avg −0.032%

Together, before fees−0.012%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and SoDEX is 0.295% cheaper against Bitget than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of −0.032%). Swap the legs. The two prices were read 49 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	Bitget PONSUSDT	0.6320	0.0682	pay 0.0341% / 4h	48m 33s	$5.0M	$13.1M	20x
Short	SoDEX PONS-USD	0.6299	0.0100	get 0.0013% / 1h	48m 33s	$27K	$595K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.328%Rate

Funding earned: −$122.22
Price spread: −0.328% → −0.032%: −$29.51
Slippage, 4 orders: −$144.1
Fee Bitget: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$315.83
Costs to cover: 1.641%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; SoDEX: live order book, 58 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, 3 min ago	3.17 bp	15.2 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX live order book, 58 min ago	0.79 bp	65.9 bp −$66	doesn't fit	doesn't fit	doesn't fit

PONS on 30 exchanges

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 +0.0031% / S −0.0029%	1h	0.6283	−0.586%	$247K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−6.030%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6323	+0.054%	$21K	$396K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6324	+0.070%	$77K	$92K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6319	−0.003%	$32K	$285K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6293	−0.413%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6299	−0.331%	—	$827K	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6299	−0.328%	$27K	$595K	3x
HTX PONS-USDT	+0.0100%	4h	0.6312	−0.117%	$65K	$549K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6292	−0.437%	$1.7M	$3.2M	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0216%	1h	0.6254	−1.036%	$390	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0261%	4h	0.6313	−0.104%	$14.0M	$59.3M	20x	as long as short
Aster PONSUSDT	+0.0405%	4h	0.6314	−0.082%	$1.2M	$2.1M	20x	as long as short
Hyperliquid PONS	+0.0427%	1h	0.6312	−0.127%	$64.6M	$29.4M	3x	as long as short
Lighter RH PONS	+0.0480%	1h	0.6310	−0.152%	$458K	$2.6M	3x	as long as short
Pacifica PONS	+0.0517%	1h	0.6319	−0.012%	$46K	$73K	3x	as long as short
KuCoin PONSUSDTM	+0.0520%	4h	0.6321	+0.028%	$1.8M	$4.3M	20x	as long as short
Binance PONSUSDT	+0.0544%	4h	0.6325	+0.085%	$40.8M	$98.1M	20x	as long as short
MEXC PONS_USDT	+0.0550%	4h	0.6310	−0.152%	$7.7M	$4.5M	20x	as long as short
Extended PONS-USD	+0.0552%	1h	0.6316	−0.056%	$181K	$849K	5x	as long as short
edgeX PONSUSDC	+0.0564%	4h	0.6317	−0.046%	$18K	$295K	10x	as long as short
Variational Omni PONS	+0.0573%	4h	0.6319	−0.012%	$1.5M	$3.8M	—	as long as short
Gate PONS_USDT	+0.0578%	4h	0.6313	−0.104%	$5.4M	$6.5M	20x	as long as short
Polymarket Perps PONS-USD	+0.0606%	1h	0.6317	−0.038%	$103K	$2.0M	3x	as long as short
Bitget PONSUSDTlong	+0.0682%	4h	0.6320	long leg	$5.0M	$13.1M	20x
BingX PONS-USDT	+0.0712%	4h	0.6314	−0.089%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0748%	4h	0.6316	−0.057%	$19.0M	$31.4M	20x	as long as short
Lighter PONS	+0.0784%	1h	0.6312	−0.116%	$1.8M	$848K	3x	as long as short
BloFin PONS-USDT	+0.0790%	4h	0.6295	−0.389%	$1.8M	$1.1M	20x	as long as short
Phoenix PONS	+0.1439%	1h	0.6328	+0.127%	$48K	$153K	3x	as long as short