Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0538%/8h= −58.9% APRpaid last 24h −0.114%

Price spread now: Popdex against edgeX+0.502%7-day average +0.003% · 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−$234as in the Price arb table

costs, in and out, $10k−$2842.839% of the position

Long on edgeX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.376%−$38 on $10k

Price spread, last 4 days (all we have)−0.722%−$72 · spread now +0.502%, 7d avg +0.003%

Together, before fees−1.098%+ Points / potential airdropedgeX: Active · farm board−$110 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.499% dearer against edgeX than usual: you sell high and buy low (spread +0.502% now, against its 7-day average of +0.003%): +$50 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX PONSUSDC	0.6196	0.0634	pay 0.0317% / 4h	3h 27m	$20K	$293K	10x
Short	Popdex PONSUSDT	0.6227	0.0096	get 0.0012% / 1h	27m 31s	$23K	$437K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against edgeX. 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 edgeXbpFee PopdexbpOrdersPrice spread, now +0.502%Rate

Funding earned: −$113.05
Price spread: +0.502% → +0.003%: $49.87
Slippage, 4 orders: −$268.47
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$347.05
Costs to cover: 2.839%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Popdex: live order book, 6 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 edgeX live order book, 5 min ago	13.76 bp	22.2 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 6 min ago	15.94 bp	109.9 bp −$110	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 −0.0030%	1h	0.6207	+0.174%	$243K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−4.155%	$610	$10K	5.5x	as long as short
Popdex PONSUSDTshort	+0.0096%	1h	0.6227	+0.502%	$23K	$437K	20x
Nado PONS-PERP	+0.0100%	1h	0.6229	+0.534%	$73K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6210	+0.230%	$31K	$289K	5x	as long as short
Polymarket Perps PONS-USD	+0.0100%	1h	0.6217	+0.332%	$73K	$2.2M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6230	+0.553%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6212	+0.255%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6221	+0.413%	$26K	$631K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6218	+0.353%	$66K	$527K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6227	+0.502%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6226	+0.477%	$388	—	3x	as long as short
Hyperliquid PONS	+0.0301%	1h	0.6227	+0.493%	$63.8M	$30.7M	3x	as long as short
Lighter RH PONS	+0.0328%	1h	0.6230	+0.553%	$422K	$2.7M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0420%	4h	0.6225	+0.469%	$14.3M	$60.5M	20x	as long as short
Aster PONSUSDT	+0.0438%	4h	0.6217	+0.337%	$1.1M	$2.3M	20x	as long as short
Lighter PONS	+0.0464%	1h	0.6233	+0.597%	$1.7M	$869K	3x	as long as short
KuCoin PONSUSDTM	+0.0474%	4h	0.6233	+0.600%	$1.7M	$4.1M	20x	as long as short
Variational Omni PONS	+0.0560%	4h	0.6185	−0.177%	$1.6M	$4.5M	—	as long as short
edgeX PONSUSDClong	+0.0634%	4h	0.6196	long leg	$20K	$293K	10x
Extended PONS-USD	+0.0648%	1h	0.6232	+0.586%	$105K	$823K	5x	as long as short
MEXC PONS_USDT	+0.0650%	4h	0.6232	+0.582%	$8.0M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0650%	4h	0.6232	+0.582%	$41.0M	$104.3M	20x	as long as short
Bitget PONSUSDT	+0.0722%	4h	0.6230	+0.556%	$5.0M	$13.2M	20x	as long as short
Pacifica PONS	+0.0853%	1h	0.6234	+0.607%	$47K	$78K	3x	as long as short
BloFin PONS-USDT	+0.0881%	4h	0.6244	+0.776%	$1.8M	$1.1M	20x	as long as short
BingX PONS-USDT	+0.0936%	4h	0.6230	+0.550%	—	$3.2M	—	as long as short
Gate PONS_USDT	+0.0956%	4h	0.6222	+0.421%	$5.4M	$6.4M	20x	as long as short
Bybit PONSUSDT	+0.0964%	4h	0.6226	+0.485%	$18.7M	$33.3M	20x	as long as short
Phoenix PONS	+0.1714%	1h	0.6199	+0.048%	$47K	$159K	3x	as long as short