Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0844%/8h= +92.4% APRpaid last 24h +0.063%

Price spread now: BingX against Nado−0.037%7-day average +0.025% · 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−$123as in the Price arb table

costs, in and out, $10k−$1171.172% of the position

Long on Nado Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.335%+$33 on $10k

Price spread, last 4 days (all we have)−0.092%−$9 · spread now −0.037%, 7d avg +0.025%

Together, before fees+0.243%+ Points / potential airdropNado: Active · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.062% cheaper against Nado than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of +0.025%). If the spread goes back, that is −$6 on $10k: about 6 hours of funding at the current rate (+$25 a day). At the pace of the last 3 days (+0.335% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PONS-PERP	0.6046	0.0100	pay 0.0012% / 1h	28m 21s	$70K	$129K	5x
Short	BingX PONS-USDT	0.6044	0.0944	get 0.0472% / 4h	3h 28m	—	$2.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.037%Rate

Funding earned: $177.24
Price spread: −0.037% → +0.025%: −$6.22
Slippage, 4 orders: −$107.2
Fee Nado: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $53.82
Costs to cover: 1.172%
Break-even: 4.9 days

Slippage from Nado: live order book, 15 min ago; BingX: 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 Nado live order book, 15 min ago	14.57 bp	44.3 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	2.49 bp	12.8 bp −$13	38.5 bp −$385	152.4 bp −$15.2K	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 −0.0032%	1h	0.6031	−0.251%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.269%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6048	+0.029%	$21K	$417K	20x	as long as short
Nado PONS-PERPlong	+0.0100%	1h	0.6046	long leg	$70K	$129K	5x
ApeX Omni PONSUSDT	+0.0100%	1h	0.6042	−0.075%	$35K	$342K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6046	−0.004%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6045	−0.029%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6043	−0.052%	$26K	$533K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6060	+0.229%	$66K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6039	−0.120%	$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	+0.0224%	1h	0.6041	−0.090%	$410K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6044	−0.037%	$377	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0360%	4h	0.6041	−0.087%	$13.8M	$55.4M	20x	as long as short
Variational Omni PONS	+0.0427%	4h	0.6045	−0.013%	$1.5M	$3.9M	—	as long as short
Hyperliquid PONS	+0.0489%	1h	0.6047	+0.004%	$61.8M	$28.0M	3x	as long as short
Aster PONSUSDT	+0.0526%	4h	0.6041	−0.079%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0530%	4h	0.6048	+0.024%	$4.6M	$11.5M	20x	as long as short
Lighter PONS	+0.0544%	1h	0.6043	−0.060%	$1.7M	$892K	3x	as long as short
Extended PONS-USD	+0.0632%	1h	0.6043	−0.050%	$108K	$808K	5x	as long as short
MEXC PONS_USDT	+0.0632%	4h	0.6045	−0.021%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0634%	4h	0.6045	−0.021%	$39.5M	$94.3M	20x	as long as short
edgeX PONSUSDC	+0.0637%	4h	0.6047	+0.013%	$18K	$294K	10x	as long as short
Polymarket Perps PONS-USD	+0.0695%	1h	0.6046	−0.009%	$72K	$1.6M	3x	as long as short
KuCoin PONSUSDTM	+0.0750%	4h	0.6045	−0.026%	$1.6M	$3.8M	20x	as long as short
BloFin PONS-USDT	+0.0874%	4h	0.6039	−0.120%	$1.7M	$968K	20x	as long as short
BingX PONS-USDTshort	+0.0944%	4h	0.6044	−0.037%	—	$2.9M	—
Gate PONS_USDT	+0.1068%	4h	0.6038	−0.136%	$5.3M	$6.2M	20x	as long as short
Pacifica PONS	+0.1081%	1h	0.6044	−0.042%	$47K	$68K	3x	as long as short
Bybit PONSUSDT	+0.1127%	4h	0.6042	−0.070%	$18.1M	$30.6M	20x	as long as short
Phoenix PONS	+0.1586%	1h	0.6044	−0.044%	$46K	$109K	3x	as long as short