Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0494%/8h= +54.1% APRpaid last 24h +0.110%

Price spread now: edgeX against Injective+0.877%107s7-day average — · you sell dearer than you buy

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

Long on Injective Short on edgeX

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and edgeX is 0.877% dearer against Injective than usual: you sell high and buy low: +$88 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 107 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	11m 32s	$614	$10K	5.5x
Short	edgeX PONSUSDC	0.6022	0.0528	get 0.0264% / 4h	1h 11m	$18K	$292K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.877%Rate

Funding earned: $103.84
Price spread: +0.877% → 0.000%: $87.68
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $182.5
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; edgeX: live order book, 51 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 edgeX live order book, 51 min ago	12.37 bp	20.8 bp −$21	doesn't fit	doesn't fit	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 −0.0033%	1h	0.6002	+0.552%	$238K	—	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	0.6028	+0.980%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6015	+0.761%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6016	+0.779%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6026	+0.945%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6012	+0.712%	$26K	$521K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6021	+0.863%	$64K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6001	+0.528%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0178%	4h	0.6039	+1.161%	$1.4M	$3.9M	—	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	+0.0216%	1h	0.6015	+0.762%	$375	—	3x	as long as short
Nado PONS-PERP	+0.0217%	1h	0.6022	+0.874%	$71K	$129K	5x	as long as short
Gate PONS_USDT	+0.0240%	4h	0.6020	+0.846%	$5.3M	$6.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0314%	4h	0.6029	+0.997%	$13.7M	$55.2M	20x	as long as short
Lighter RH PONS	+0.0328%	1h	0.6021	+0.861%	$417K	$2.5M	3x	as long as short
Lighter PONS	+0.0344%	1h	0.6020	+0.851%	$1.7M	$876K	3x	as long as short
Bitget PONSUSDT	+0.0418%	4h	0.6026	+0.940%	$4.7M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0435%	4h	0.6013	+0.737%	$1.1M	$2.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0468%	4h	0.6019	+0.833%	$1.7M	$3.7M	20x	as long as short
Bybit PONSUSDT	+0.0490%	4h	0.6023	+0.896%	$18.0M	$30.6M	20x	as long as short
BingX PONS-USDT	+0.0496%	4h	0.6025	+0.930%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0526%	4h	0.6021	+0.863%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0527%	4h	0.6024	+0.917%	$39.7M	$94.6M	20x	as long as short
edgeX PONSUSDCshort	+0.0528%	4h	0.6022	+0.877%	$18K	$292K	10x
Extended PONS-USD	+0.0528%	1h	0.6021	+0.858%	$249K	$671K	5x	as long as short
Hyperliquid PONS	+0.0751%	1h	0.6024	+0.920%	$61.4M	$27.9M	3x	as long as short
Pacifica PONS	+0.0755%	1h	0.6021	+0.855%	$47K	$70K	3x	as long as short
BloFin PONS-USDT	+0.0772%	4h	0.6022	+0.879%	$1.7M	$967K	20x	as long as short
Polymarket Perps PONS-USD	+0.0845%	1h	0.6020	+0.844%	$69K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.6022	+0.878%	$31K	$98K	3x	as long as short