Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.064%

Price spread now: SoDEX against KuCoin+0.105%53s7-day average +0.018% · 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−$2012.009% of the position

Long on KuCoin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.209%−$21 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now +0.105%, 7d avg +0.018%

Together, before fees−0.226%−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.086% dearer against KuCoin than usual: you sell high and buy low (spread +0.105% now, against its 7-day average of +0.018%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.3 days. At the pace of the last 3 days (−0.209% in total) that is about 32 hours. The two prices were read 53 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	KuCoin PONSUSDTM	0.6107	0.0186	pay 0.0093% / 4h	3h 24m	$1.8M	$3.7M	20x
Short	SoDEX PONS-USD	0.6113	0.0100	get 0.0013% / 1h	24m 20s	$28K	$547K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against KuCoin. 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 KuCoinbpFee SoDEXbpOrdersPrice spread, now +0.105%Rate

Funding earned: −$18.06
Price spread: +0.105% → +0.018%: $8.63
Slippage, 4 orders: −$180.89
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$210.32
Costs to cover: 2.009%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; SoDEX: live order book, 49 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 KuCoin live order book, 3 min ago	2.29 bp	41.9 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX live order book, 49 min ago	0.82 bp	65.5 bp −$65	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 −0.0033%	1h	0.6098	−0.149%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.248%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6107	+0.003%	$432K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6107	+0.003%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6090	−0.275%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6126	+0.306%	$34K	$358K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6116	+0.144%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6111	+0.074%	—	$1.3M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6113	+0.105%	$28K	$547K	3x
HTX PONS-USDT	+0.0100%	4h	0.6114	+0.116%	$65K	$510K	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	0.6110	+0.052%	$1.7M	$3.2M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0176%	4h	0.6109	+0.036%	$13.9M	$57.1M	20x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.6108	+0.020%	$381	—	3x	as long as short
KuCoin PONSUSDTMlong	+0.0186%	4h	0.6107	long leg	$1.8M	$3.7M	20x
Bitget PONSUSDT	+0.0252%	4h	0.6109	+0.031%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0270%	4h	0.6107	+0.002%	$1.1M	$2.1M	20x	as long as short
MEXC PONS_USDT	+0.0364%	4h	0.6108	+0.020%	$8.0M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0365%	4h	0.6108	+0.020%	$40.0M	$96.6M	20x	as long as short
Extended PONS-USD	+0.0368%	1h	0.6106	−0.019%	$253K	$679K	5x	as long as short
edgeX PONSUSDC	+0.0375%	4h	0.6118	+0.178%	$21K	$292K	10x	as long as short
Lighter PONS	+0.0464%	1h	0.6108	+0.015%	$1.7M	$932K	3x	as long as short
BloFin PONS-USDT	+0.0605%	4h	0.6117	+0.167%	$1.8M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0610%	1h	0.6110	+0.052%	$105K	$115K	5x	as long as short
Bybit PONSUSDT	+0.0644%	4h	0.6108	+0.020%	$18.4M	$30.9M	20x	as long as short
BingX PONS-USDT	+0.0648%	4h	0.6109	+0.036%	—	$3.1M	—	as long as short
Pacifica PONS	+0.0665%	1h	0.6104	−0.039%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0776%	1h	0.6107	+0.010%	$44K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0886%	1h	0.6107	+0.002%	$62.1M	$29.0M	3x	as long as short
Gate PONS_USDT	+0.0980%	4h	0.6102	−0.079%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6106	−0.021%	$32K	$113K	3x	as long as short