Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: SunX against Popdex+0.053%7-day average +0.032% · 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−$447as in the Price arb table

costs, in and out, $10k−$4494.491% of the position

Long on Popdex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.462%+$46 · spread now +0.053%, 7d avg +0.032%

Together, before fees+0.465%+$47 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.021% dearer against Popdex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex PONSUSDT	0.6074	0.0096	pay 0.0012% / 1h	16m 21s	$21K	$435K	20x
Short	SunX PONS-USDT	0.6077	0.0100	get 0.0050% / 4h	16m 21s	—	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.053%Rate

Funding earned: $0.84
Price spread: +0.053% → +0.032%: $2.05
Slippage, 4 orders: −$434.66
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee SunX: 4 bp × 2 orders: −$8
Net: −$446.17
Costs to cover: 4.491%
Break-even: 3725.0 days

Slippage from Popdex: live order book, 42 min ago; SunX: 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 Popdex live order book, 42 min ago	8.41 bp	109.9 bp −$110	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	104.88 bp	125.0 bp −$125	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 −0.0032%	1h	0.6060	−0.224%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.720%	$614	$10K	5.5x	as long as short
Popdex PONSUSDTlong	+0.0096%	1h	0.6074	long leg	$21K	$435K	20x
ApeX Omni PONSUSDT	+0.0100%	1h	0.6054	−0.334%	$35K	$348K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6080	+0.102%	$2K	$3K	10x	as long as short
SunX PONS-USDTshort	+0.0100%	4h	0.6077	+0.053%	—	$1.3M	10x
SoDEX PONS-USD	+0.0100%	1h	0.6075	+0.016%	$26K	$534K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6094	+0.329%	$66K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6065	−0.148%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6078	+0.066%	$379	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONS	+0.0241%	4h	0.6050	−0.389%	$1.4M	$4.0M	—	as long as short
Nado PONS-PERP	+0.0307%	1h	0.6074	0.000%	$71K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0335%	4h	0.6070	−0.066%	$13.8M	$55.8M	20x	as long as short
Gate PONS_USDT	+0.0382%	4h	0.6068	−0.099%	$5.3M	$6.3M	20x	as long as short
Lighter PONS	+0.0424%	1h	0.6075	+0.018%	$1.7M	$885K	3x	as long as short
Bitget PONSUSDT	+0.0482%	4h	0.6076	+0.035%	$4.7M	$11.5M	20x	as long as short
Bybit PONSUSDT	+0.0483%	4h	0.6073	−0.016%	$18.1M	$30.8M	20x	as long as short
Aster PONSUSDT	+0.0493%	4h	0.6076	+0.034%	$1.1M	$2.1M	20x	as long as short
Lighter RH PONS	+0.0544%	1h	0.6076	+0.033%	$415K	$2.5M	3x	as long as short
BingX PONS-USDT	+0.0578%	4h	0.6076	+0.033%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0606%	4h	0.6074	0.000%	$7.7M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0607%	4h	0.6076	+0.033%	$39.7M	$95.2M	20x	as long as short
Extended PONS-USD	+0.0608%	1h	0.6074	+0.006%	$108K	$813K	5x	as long as short
edgeX PONSUSDC	+0.0613%	4h	0.6064	−0.170%	$18K	$293K	10x	as long as short
KuCoin PONSUSDTM	+0.0676%	4h	0.6074	−0.007%	$1.7M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0817%	1h	0.6076	+0.026%	$62.1M	$28.3M	3x	as long as short
BloFin PONS-USDT	+0.0847%	4h	0.6080	+0.099%	$1.7M	$965K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.6072	−0.026%	$48K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0897%	1h	0.6075	+0.015%	$73K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6074	+0.002%	$31K	$104K	3x	as long as short