Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0569%/8h= −62.3% APRpaid last 24h −0.114%

Price spread now: SoDEX against Bybit+0.032%46s7-day average +0.023% · 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—prices read too far apart to compare

costs, in and out, $10k−$1361.359% of the position

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.275%−$27 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now +0.032%, 7d avg +0.023%

Together, before fees−0.206%−$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.023%, so right now this pair is about funding alone: −$17 a day on $10k at the current rate. The two prices were read 46 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	Bybit PONSUSDT	0.6179	0.0669	pay 0.0335% / 4h	16m 34s	$18.5M	$33.0M	20x
Short	SoDEX PONS-USD	0.6181	0.0100	get 0.0013% / 1h	16m 34s	$26K	$639K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Bybit. 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 BybitbpFee SoDEXbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$119.57
Price spread: +0.032% → +0.023%: $0.92
Slippage, 4 orders: −$116.88
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$254.53
Costs to cover: 1.359%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; SoDEX: live order book, 22 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, 2 min ago	1.62 bp	16.7 bp −$17	41.9 bp −$419	doesn't fit	doesn't fit
Sell SoDEX live order book, 22 min ago	1.60 bp	61.4 bp −$61	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	0.6166	−0.212%	$234K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6182	+0.049%	$22K	$455K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6186	+0.108%	$72K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6153	−0.421%	$30K	$300K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6184	+0.074%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6171	−0.125%	—	$1.2M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6181	+0.032%	$26K	$639K	3x
HTX PONS-USDT	+0.0100%	4h	0.6177	−0.036%	$67K	$536K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6173	−0.097%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.6178	−0.017%	$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	+0.0415%	4h	0.6181	+0.032%	$14.0M	$60.9M	20x	as long as short
Gate PONS_USDT	+0.0458%	4h	0.6171	−0.129%	$5.5M	$6.6M	20x	as long as short
Aster PONSUSDT	+0.0487%	4h	0.6184	+0.076%	$1.1M	$2.4M	20x	as long as short
Variational Omni PONS	+0.0490%	4h	0.6128	−0.827%	$1.5M	$4.2M	—	as long as short
Lighter RH PONS	+0.0512%	1h	0.6184	+0.074%	$417K	$2.7M	3x	as long as short
Lighter PONS	+0.0536%	1h	0.6188	+0.146%	$1.7M	$855K	3x	as long as short
KuCoin PONSUSDTM	+0.0538%	4h	0.6181	+0.032%	$1.6M	$4.0M	20x	as long as short
Pacifica PONS	+0.0572%	1h	0.6184	+0.088%	$47K	$77K	3x	as long as short
Extended PONS-USD	+0.0592%	1h	0.6183	+0.072%	$103K	$828K	5x	as long as short
MEXC PONS_USDT	+0.0592%	4h	0.6183	+0.065%	$7.8M	$4.8M	20x	as long as short
edgeX PONSUSDC	+0.0592%	4h	0.6150	−0.466%	$20K	$292K	10x	as long as short
Binance PONSUSDT	+0.0605%	4h	0.6183	+0.065%	$40.1M	$105.1M	20x	as long as short
Hyperliquid PONS	+0.0623%	1h	0.6185	+0.100%	$62.9M	$30.4M	3x	as long as short
BingX PONS-USDT	+0.0666%	4h	0.6183	+0.065%	—	$3.2M	—	as long as short
Bybit PONSUSDTlong	+0.0669%	4h	0.6179	long leg	$18.5M	$33.0M	20x
Bitget PONSUSDT	+0.0706%	4h	0.6183	+0.073%	$4.9M	$13.0M	20x	as long as short
BloFin PONS-USDT	+0.0834%	4h	0.6180	+0.016%	$1.8M	$1.1M	20x	as long as short
Polymarket Perps PONS-USD	+0.1035%	1h	0.6181	+0.032%	$73K	$2.3M	3x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−3.892%	$610	$10K	5.5x	as long as short
Phoenix PONS	+0.1405%	1h	0.6159	−0.329%	$47K	$127K	3x	as long as short