Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0272%/8h= +29.7% APRpaid last 24h +0.090%

Price spread now: edgeX against Popdex−0.094%7-day average −0.015% · 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−$183as in the Price arb table

costs, in and out, $10k−$1751.750% of the position

Long on Popdex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.326%+$33 on $10k

Price spread, last 3 days (all we have)+0.147%+$15 · spread now −0.094%, 7d avg −0.015%

Together, before fees+0.474%+ Points / potential airdropedgeX: Active · farm board+$47 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.079% cheaper against Popdex than usual: you would sell low and buy high (spread −0.094% now, against its 7-day average of −0.015%). If the spread goes back, that is −$8 on $10k: about 23 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex PONSUSDT	0.6121	0.0096	pay 0.0012% / 1h	27m 30s	$20K	$415K	20x
Short	edgeX PONSUSDC	0.6115	0.0368	get 0.0184% / 4h	3h 27m	$21K	$292K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Popdex. 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 PopdexbpFee edgeXbpOrdersPrice spread, now −0.094%Rate

Funding earned: $57.04
Price spread: −0.094% → −0.015%: −$7.91
Slippage, 4 orders: −$159.65
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$125.92
Costs to cover: 1.750%
Break-even: 22.5 days

Slippage from Popdex: live order book, 46 min ago; edgeX: live order book, 45 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 Popdex live order book, 46 min ago	3.69 bp	64.7 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 45 min ago	11.48 bp	20.0 bp −$20	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	0.6110	−0.182%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.475%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6127	+0.093%	$433K	$2.6M	3x	as long as short
Popdex PONSUSDTlong	+0.0096%	1h	0.6121	long leg	$20K	$415K	20x
Variational Omni PONS	+0.0100%	4h	0.6105	−0.269%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6116	−0.087%	$34K	$358K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6135	+0.225%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6130	+0.150%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6127	+0.100%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6133	+0.191%	$65K	$511K	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	0.6120	−0.016%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6130	+0.147%	$382	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0179%	4h	0.6119	−0.033%	$13.9M	$57.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0184%	4h	0.6119	−0.038%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0244%	4h	0.6120	−0.015%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0268%	4h	0.6118	−0.044%	$1.1M	$2.1M	20x	as long as short
MEXC PONS_USDT	+0.0356%	4h	0.6121	0.000%	$8.0M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0360%	1h	0.6117	−0.062%	$253K	$679K	5x	as long as short
Binance PONSUSDT	+0.0368%	4h	0.6118	−0.056%	$40.1M	$96.7M	20x	as long as short
edgeX PONSUSDCshort	+0.0368%	4h	0.6115	−0.094%	$21K	$292K	10x
Lighter PONS	+0.0504%	1h	0.6119	−0.034%	$1.7M	$931K	3x	as long as short
BloFin PONS-USDT	+0.0593%	4h	0.6107	−0.229%	$1.8M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0613%	1h	0.6117	−0.064%	$106K	$115K	5x	as long as short
BingX PONS-USDT	+0.0648%	4h	0.6122	+0.016%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0660%	4h	0.6117	−0.065%	$18.4M	$30.9M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6115	−0.092%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0778%	1h	0.6120	−0.011%	$44K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0897%	1h	0.6121	−0.003%	$62.2M	$29.2M	3x	as long as short
Gate PONS_USDT	+0.1012%	4h	0.6108	−0.212%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6110	−0.183%	$32K	$113K	3x	as long as short