Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0392%/8h= +42.9% APRpaid last 24h +0.031%

Price spread now: Binance against Nado−0.224%48s7-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—prices read too far apart to compare

costs, in and out, $10k−$1181.182% of the position

Long on Nado Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.157%+$16 on $10k

Price spread, last 4 days (all we have)+0.202%+$20 · spread now −0.224%, 7d avg +0.003%

Together, before fees+0.358%+ Points / potential airdropNado: Active · farm board+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.227% cheaper against Nado than usual: you would sell low and buy high (spread −0.224% now, against its 7-day average of +0.003%). If the spread goes back, that is −$23 on $10k: about 46 hours of funding at the current rate (+$12 a day). At the pace of the last 3 days (+0.157% in total) that is about 5.1 days. The two prices were read 48 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	Nado PONS-PERP	0.5949	0.0100	pay 0.0012% / 1h	4m 36s	$70K	$130K	5x
Short	Binance PONSUSDT	0.5935	0.0492	get 0.0246% / 4h	1h 04m	$37.4M	$98.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Nado. 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 NadobpFee BinancebpOrdersPrice spread, now −0.224%Rate

Funding earned: $82.32
Price spread: −0.224% → +0.003%: −$22.71
Slippage, 4 orders: −$108.22
Fee Nado: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$58.61
Costs to cover: 1.182%
Break-even: 12.0 days

Slippage from Nado: live order book, 29 min ago; Binance: live order book, 8 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 Nado live order book, 29 min ago	16.33 bp	43.5 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.85 bp	11.7 bp −$12	40.2 bp −$402	217.5 bp −$21.8K	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	0.5942	−0.107%	$243K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−0.171%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5931	−0.297%	$22K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5955	+0.113%	$2K	$3K	10x	as long as short
Nado PONS-PERPlong	+0.0100%	1h	0.5949	long leg	$70K	$130K	5x
ApeX Omni PONSUSDT	+0.0100%	1h	0.5921	−0.468%	$29K	$314K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5950	+0.028%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5946	−0.041%	$26K	$581K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5949	+0.013%	$65K	$525K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5949	+0.006%	$1.6M	$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	0.5936	−0.213%	$411K	$2.6M	3x	as long as short
Aevo PONS-PERP	+0.0200%	1h	0.5950	+0.031%	$371	—	3x	as long as short
Hyperliquid PONS	+0.0299%	1h	0.5936	−0.208%	$60.3M	$29.5M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0419%	4h	0.5929	−0.330%	$13.4M	$55.4M	20x	as long as short
Aster PONSUSDT	+0.0455%	4h	0.5945	−0.055%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0488%	1h	0.5932	−0.275%	$102K	$807K	5x	as long as short
MEXC PONS_USDT	+0.0488%	4h	0.5933	−0.263%	$7.7M	$4.8M	20x	as long as short
Binance PONSUSDTshort	+0.0492%	4h	0.5935	−0.224%	$37.4M	$98.0M	20x
edgeX PONSUSDC	+0.0500%	4h	0.5918	−0.523%	$20K	$290K	10x	as long as short
Variational Omni PONS	+0.0548%	4h	0.5964	+0.266%	$1.4M	$4.1M	—	as long as short
Pacifica PONS	+0.0556%	1h	0.5932	−0.279%	$45K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0596%	4h	0.5939	−0.166%	$1.6M	$3.8M	20x	as long as short
BingX PONS-USDT	+0.0656%	4h	0.5927	−0.364%	—	$3.0M	—	as long as short
Polymarket Perps PONS-USD	+0.0656%	1h	0.5949	+0.004%	$87K	$1.9M	3x	as long as short
Bybit PONSUSDT	+0.0661%	4h	0.5930	−0.314%	$17.6M	$31.2M	20x	as long as short
Bitget PONSUSDT	+0.0684%	4h	0.5934	−0.253%	$4.7M	$12.2M	20x	as long as short
Gate PONS_USDT	+0.0708%	4h	0.5939	−0.162%	$5.3M	$6.4M	20x	as long as short
BloFin PONS-USDT	+0.0730%	4h	0.5949	+0.006%	$1.7M	$946K	20x	as long as short
Lighter PONS	+0.0896%	1h	0.5936	−0.209%	$1.7M	$832K	3x	as long as short
Phoenix PONS	+0.1472%	1h	0.5918	−0.514%	$45K	$127K	3x	as long as short