Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0747%/8h= −81.8% APRpaid last 24h −0.103%

Price spread now: Nado against BloFin−0.315%7-day average −0.041% · 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−$154as in the Price arb table

costs, in and out, $10k−$1271.269% of the position

Long on BloFin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.407%−$41 on $10k

Price spread, last 4 days (all we have)+0.155%+$15 · spread now −0.315%, 7d avg −0.041%

Together, before fees−0.253%+ Points / potential airdropNado: Active · farm board−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Nado is 0.274% cheaper against BloFin than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.041%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PONS-USDT	0.6191	0.0847	pay 0.0424% / 4h	14m 11s	$1.8M	$1.1M	20x
Short	Nado PONS-PERP	0.6172	0.0100	get 0.0012% / 1h	14m 11s	$72K	$130K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against BloFin. 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 BloFinbpFee NadobpOrdersPrice spread, now −0.315%Rate

Funding earned: −$156.92
Price spread: −0.315% → −0.041%: −$27.44
Slippage, 4 orders: −$114.85
Fee BloFin: 6 bp × 2 orders: −$12
Fee Nado: 0 bp × 2 orders: $0
Net: −$311.21
Costs to cover: 1.269%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Nado: live order book, 14 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 BloFin live order book, 4 min ago	6.47 bp	13.7 bp −$14	27.9 bp −$279	doesn't fit	doesn't fit
Sell Nado live order book, 14 min ago	14.91 bp	54.3 bp −$54	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 +0.0032% / S −0.0029%	1h	0.6157	−0.553%	$234K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6168	−0.372%	$22K	$455K	20x	as long as short
Nado PONS-PERPshort	+0.0100%	1h	0.6172	−0.315%	$72K	$130K	5x
ApeX Omni PONSUSDT	+0.0100%	1h	0.6153	−0.614%	$30K	$300K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6180	−0.181%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6175	−0.267%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6169	−0.360%	$26K	$639K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6174	−0.275%	$67K	$536K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6166	−0.404%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6178	−0.218%	$385	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PONS-USDT-SWAP	+0.0412%	4h	0.6165	−0.420%	$14.0M	$60.7M	20x	as long as short
Gate PONS_USDT	+0.0462%	4h	0.6164	−0.436%	$5.5M	$6.6M	20x	as long as short
Aster PONSUSDT	+0.0486%	4h	0.6172	−0.309%	$1.1M	$2.4M	20x	as long as short
Variational Omni PONS	+0.0505%	4h	0.6176	−0.242%	$1.5M	$4.2M	—	as long as short
Lighter PONS	+0.0520%	1h	0.6172	−0.309%	$1.7M	$856K	3x	as long as short
KuCoin PONSUSDTM	+0.0532%	4h	0.6167	−0.393%	$1.6M	$4.0M	20x	as long as short
Lighter RH PONS	+0.0552%	1h	0.6168	−0.372%	$416K	$2.7M	3x	as long as short
Pacifica PONS	+0.0572%	1h	0.6178	−0.208%	$46K	$77K	3x	as long as short
edgeX PONSUSDC	+0.0604%	4h	0.6181	−0.163%	$20K	$292K	10x	as long as short
MEXC PONS_USDT	+0.0606%	4h	0.6165	−0.420%	$7.8M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0607%	4h	0.6168	−0.373%	$40.0M	$105.2M	20x	as long as short
Extended PONS-USD	+0.0608%	1h	0.6167	−0.382%	$104K	$828K	5x	as long as short
Hyperliquid PONS	+0.0610%	1h	0.6164	−0.430%	$62.7M	$30.5M	3x	as long as short
BingX PONS-USDT	+0.0666%	4h	0.6169	−0.355%	—	$3.2M	—	as long as short
Bybit PONSUSDT	+0.0671%	4h	0.6168	−0.372%	$18.5M	$33.0M	20x	as long as short
Bitget PONSUSDT	+0.0704%	4h	0.6170	−0.344%	$4.9M	$13.0M	20x	as long as short
BloFin PONS-USDTlong	+0.0847%	4h	0.6191	long leg	$1.8M	$1.1M	20x
Polymarket Perps PONS-USD	+0.1019%	1h	0.6166	−0.405%	$73K	$2.3M	3x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−4.079%	$610	$10K	5.5x	as long as short
Phoenix PONS	+0.1405%	1h	0.6159	−0.522%	$47K	$127K	3x	as long as short