Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0134%/8h= +14.7% APRpaid last 24h +0.118%

Price spread now: Binance against Injective−0.304%77s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.304% cheaper against Injective than usual: you would sell low and buy high (spread −0.304% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$30 on $10k: about 7.5 days of funding at the current rate (+$4 a day). The two prices were read 77 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	Injective PONS/USDC PERP	0.5969	0.0033	pay 0.0004% / 1h	28m 04s	$614	$10K	5.5x
Short	Binance PONSUSDT	0.5951	0.0167	get 0.0084% / 4h	1h 28m	$38.7M	$97.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now −0.304%Rate

Funding earned: $28.15
Price spread: −0.304% → 0.000%: −$30.36
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$12.22
Costs to cover: 0.100%
Break-even: 10.0 days

Slippage unknown: Injective: no order-book sample; Binance: live order book, 15 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 15 min ago	0.84 bp	14.3 bp −$14	54.9 bp −$549	299.3 bp −$29.9K	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0034%	1h	0.5950	−0.335%	$218K	—	150x	as long as short
Injective PONS/USDC PERPlong	+0.0033%	1h	0.5969	long leg	$614	$10K	5.5x
Popdex PONSUSDT	+0.0096%	1h	0.5966	−0.059%	$18K	$437K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5952	−0.293%	$17.8M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5951	−0.310%	$13.5M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5952	−0.285%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5953	−0.276%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5935	−0.574%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5941	−0.469%	$34K	$347K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5954	−0.256%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5959	−0.169%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5953	−0.276%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5965	−0.079%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5954	−0.260%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5953	−0.270%	$371	—	3x	as long as short
Aster PONSUSDT	+0.0130%	4h	0.5953	−0.270%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0160%	4h	0.5951	−0.310%	$7.7M	$4.9M	20x	as long as short
Binance PONSUSDTshort	+0.0167%	4h	0.5951	−0.304%	$38.7M	$97.7M	20x
Extended PONS-USD	+0.0168%	1h	0.5955	−0.245%	$246K	$667K	5x	as long as short
BingX PONS-USDT	+0.0170%	4h	0.5948	−0.360%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0174%	4h	0.5941	−0.473%	$21K	$294K	10x	as long as short
Nado PONS-PERP	+0.0229%	1h	0.5958	−0.193%	$90K	$103K	5x	as long as short
Lighter RH PONS	+0.0320%	1h	0.5955	−0.243%	$413K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0402%	4h	0.5955	−0.243%	$1.7M	$976K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5962	−0.118%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0478%	1h	0.5960	−0.157%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0658%	1h	0.5957	−0.208%	$60.1M	$30.1M	3x	as long as short
Lighter PONS	+0.0768%	1h	0.5955	−0.243%	$1.7M	$998K	3x	as long as short
Gate PONS_USDT	+0.1242%	4h	0.5950	−0.327%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5941	−0.476%	$30K	$96K	3x	as long as short