Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0548%/8h= +60.0% APRpaid last 24h +0.129%

Price spread now: BingX against SoDEX−0.083%7-day average +0.028% · 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−$161as in the Price arb table

costs, in and out, $10k−$1501.503% of the position

Long on SoDEX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.440%+$44 on $10k

Price spread, last 3 days (all we have)−0.020%−$2 · spread now −0.083%, 7d avg +0.028%

Together, before fees+0.420%+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.112% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.083% now, against its 7-day average of +0.028%). If the spread goes back, that is −$11 on $10k: about 16 hours of funding at the current rate (+$16 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PONS-USD	0.6127	0.0100	pay 0.0013% / 1h	27m 37s	$28K	$547K	3x
Short	BingX PONS-USDT	0.6122	0.0648	get 0.0324% / 4h	3h 27m	—	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against SoDEX. 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 SoDEXbpFee BingXbpOrdersPrice spread, now −0.083%Rate

Funding earned: $115.08
Price spread: −0.083% → +0.028%: −$11.15
Slippage, 4 orders: −$132.28
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$46.35
Costs to cover: 1.503%
Break-even: 9.8 days

Slippage from SoDEX: live order book, 46 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 SoDEX live order book, 46 min ago	0.82 bp	63.9 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	2.47 bp	7.5 bp −$7	13.1 bp −$131	109.4 bp −$10.9K	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	0.6118	−0.151%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.572%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6127	−0.007%	$433K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6121	−0.100%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6105	−0.368%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6102	−0.410%	$33K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6135	+0.126%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6130	+0.051%	—	$1.3M	10x	as long as short
SoDEX PONS-USDlong	+0.0100%	1h	0.6127	long leg	$28K	$547K	3x
HTX PONS-USDT	+0.0100%	4h	0.6133	+0.091%	$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	−0.116%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6130	+0.047%	$382	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0172%	4h	0.6116	−0.181%	$14.0M	$57.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0184%	4h	0.6114	−0.207%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0244%	4h	0.6117	−0.163%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0268%	4h	0.6122	−0.081%	$1.1M	$2.1M	20x	as long as short
edgeX PONSUSDC	+0.0344%	4h	0.6106	−0.345%	$21K	$294K	10x	as long as short
MEXC PONS_USDT	+0.0356%	4h	0.6119	−0.132%	$8.0M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0360%	1h	0.6117	−0.161%	$253K	$679K	5x	as long as short
Binance PONSUSDT	+0.0368%	4h	0.6119	−0.132%	$40.1M	$96.7M	20x	as long as short
Lighter PONS	+0.0504%	1h	0.6119	−0.134%	$1.7M	$931K	3x	as long as short
BloFin PONS-USDT	+0.0593%	4h	0.6107	−0.328%	$1.8M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0612%	1h	0.6124	−0.053%	$106K	$115K	5x	as long as short
BingX PONS-USDTshort	+0.0648%	4h	0.6122	−0.083%	—	$3.1M	—
Pacifica PONS	+0.0665%	1h	0.6115	−0.191%	$48K	$78K	3x	as long as short
Bybit PONSUSDT	+0.0712%	4h	0.6114	−0.214%	$18.4M	$30.9M	20x	as long as short
Polymarket Perps PONS-USD	+0.0778%	1h	0.6128	+0.018%	$44K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0895%	1h	0.6126	−0.013%	$62.3M	$29.2M	3x	as long as short
Gate PONS_USDT	+0.1012%	4h	0.6108	−0.312%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6110	−0.282%	$32K	$113K	3x	as long as short