Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0296%/8h= −32.4% APRpaid last 24h −0.084%

Price spread now: SoDEX against MEXC−0.028%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1331.328% of the position

Long on MEXC Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.283%−$28 on $10k

Price spread, last 3 days (all we have)+0.114%+$11 · spread now −0.028%, 7d avg −0.003%

Together, before fees−0.169%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and SoDEX is 0.025% cheaper against MEXC than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PONS_USDT	0.6048	0.0396	pay 0.0198% / 4h	3h 01m	$7.9M	$4.9M	20x
Short	SoDEX PONS-USD	0.6046	0.0100	get 0.0013% / 1h	1m 16s	$26K	$533K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against MEXC. 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 MEXCbpFee SoDEXbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$62.16
Price spread: −0.028% → −0.003%: −$2.5
Slippage, 4 orders: −$124.77
Fee MEXC: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$197.43
Costs to cover: 1.328%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; SoDEX: live order book, 7 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 MEXC live order book, 2 min ago	0.83 bp	4.3 bp −$4	11.1 bp −$111	266.0 bp −$26.6K	doesn't fit
Sell SoDEX live order book, 7 min ago	1.79 bp	60.5 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 +0.0033% / S −0.0033%	1h	0.6043	−0.089%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.298%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6047	−0.017%	$20K	$414K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6046	−0.034%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6051	+0.056%	$33K	$356K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6050	+0.035%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6047	−0.025%	—	$1.3M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6046	−0.028%	$26K	$533K	3x
HTX PONS-USDT	+0.0100%	4h	0.6068	+0.336%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6052	+0.066%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0104%	1h	0.6049	+0.015%	$426K	$2.6M	3x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.6043	−0.088%	$376	—	3x	as long as short
KuCoin PONSUSDTM	+0.0230%	4h	0.6046	−0.030%	$1.7M	$3.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0232%	4h	0.6040	−0.132%	$13.9M	$55.6M	20x	as long as short
Bitget PONSUSDT	+0.0288%	4h	0.6049	+0.015%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0313%	4h	0.6042	−0.107%	$1.1M	$2.0M	20x	as long as short
Binance PONSUSDT	+0.0389%	4h	0.6046	−0.033%	$39.8M	$96.0M	20x	as long as short
Extended PONS-USD	+0.0392%	1h	0.6046	−0.026%	$250K	$676K	5x	as long as short
MEXC PONS_USDTlong	+0.0396%	4h	0.6048	long leg	$7.9M	$4.9M	20x
edgeX PONSUSDC	+0.0406%	4h	0.6065	+0.286%	$21K	$293K	10x	as long as short
Lighter PONS	+0.0408%	1h	0.6049	+0.015%	$1.7M	$946K	3x	as long as short
Bybit PONSUSDT	+0.0534%	4h	0.6041	−0.116%	$18.2M	$30.7M	20x	as long as short
Nado PONS-PERP	+0.0594%	1h	0.6044	−0.066%	$104K	$115K	5x	as long as short
BingX PONS-USDT	+0.0594%	4h	0.6051	+0.050%	—	$3.1M	—	as long as short
BloFin PONS-USDT	+0.0629%	4h	0.6041	−0.116%	$1.8M	$982K	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6043	−0.078%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0792%	1h	0.6046	−0.036%	$46K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0844%	1h	0.6047	−0.020%	$61.5M	$28.9M	3x	as long as short
Gate PONS_USDT	+0.1276%	4h	0.6046	−0.033%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6089	+0.681%	$32K	$113K	3x	as long as short