Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0185%/8h= −20.3% APRpaid last 24h −0.043%

Price spread now: Nado against Bybit+0.115%7-day average +0.026% · 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−$123as in the Price arb table

costs, in and out, $10k−$1321.321% of the position

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.130%−$13 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now +0.115%, 7d avg +0.026%

Together, before fees−0.024%+ Points / potential airdropNado: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.089% dearer against Bybit than usual: you sell high and buy low (spread +0.115% now, against its 7-day average of +0.026%): +$9 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PONSUSDT	0.6062	0.0473	pay 0.0237% / 4h	19m 59s	$18.1M	$30.8M	20x
Short	Nado PONS-PERP	0.6069	0.0288	get 0.0036% / 1h	19m 59s	$71K	$129K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpFee NadobpOrdersPrice spread, now +0.115%Rate

Funding earned: −$38.91
Price spread: +0.115% → +0.026%: $8.95
Slippage, 4 orders: −$121.15
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 0 bp × 2 orders: $0
Net: −$162.11
Costs to cover: 1.321%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Nado: live order book, 28 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 Bybit live order book, 4 min ago	2.49 bp	18.0 bp −$18	41.3 bp −$413	doesn't fit	doesn't fit
Sell Nado live order book, 28 min ago	17.02 bp	47.6 bp −$48	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	0.6053	−0.142%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.526%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6066	+0.066%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6027	−0.572%	$35K	$348K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6071	+0.157%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6071	+0.152%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6067	+0.074%	$26K	$534K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6069	+0.124%	$66K	$511K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6053	−0.148%	$1.7M	$3.2M	20x	as long as short
Gate PONS_USDT	+0.0220%	4h	0.6058	−0.066%	$5.3M	$6.3M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0232%	1h	0.6068	+0.103%	$378	—	3x	as long as short
Variational Omni PONS	+0.0241%	4h	0.6050	−0.192%	$1.4M	$4.0M	—	as long as short
Nado PONS-PERPshort	+0.0288%	1h	0.6069	+0.115%	$71K	$129K	5x
OKX PONS-USDT-SWAP	+0.0332%	4h	0.6062	0.000%	$13.8M	$55.7M	20x	as long as short
Lighter PONS	+0.0384%	1h	0.6065	+0.041%	$1.7M	$884K	3x	as long as short
Bybit PONSUSDTlong	+0.0473%	4h	0.6062	long leg	$18.1M	$30.8M	20x
Bitget PONSUSDT	+0.0478%	4h	0.6067	+0.086%	$4.7M	$11.5M	20x	as long as short
Aster PONSUSDT	+0.0487%	4h	0.6062	−0.007%	$1.1M	$2.1M	20x	as long as short
Lighter RH PONS	+0.0528%	1h	0.6065	+0.056%	$414K	$2.5M	3x	as long as short
BingX PONS-USDT	+0.0570%	4h	0.6063	+0.016%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0600%	4h	0.6065	+0.049%	$7.7M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0605%	4h	0.6041	−0.352%	$18K	$292K	10x	as long as short
Extended PONS-USD	+0.0608%	1h	0.6066	+0.072%	$108K	$813K	5x	as long as short
Binance PONSUSDT	+0.0609%	4h	0.6062	0.000%	$39.6M	$95.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0670%	4h	0.6059	−0.054%	$1.7M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0796%	1h	0.6064	+0.026%	$61.9M	$28.3M	3x	as long as short
BloFin PONS-USDT	+0.0841%	4h	0.6060	−0.033%	$1.7M	$961K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.6070	+0.132%	$48K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0897%	1h	0.6067	+0.078%	$73K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6049	−0.221%	$31K	$104K	3x	as long as short