Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h −0.019%

Price spread now: Extended against Bitget−0.073%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$890.889% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.194%+$19 on $10k

Price spread, last 4 days (all we have)+0.033%+$3 · spread now −0.073%, 7d avg −0.052%

Together, before fees+0.227%+ Points / potential airdropExtended: Active · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.021% cheaper against Bitget than usual: you would sell low and buy high (spread −0.073% now, against its 7-day average of −0.052%). If the spread goes back, that is −$2 on $10k: about 32 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PONSUSDT	0.5845	0.0100	pay 0.0050% / 4h	2h 40m	$4.6M	$11.7M	20x
Short	Extended PONS-USD	0.5840	0.0152	get 0.0019% / 1h	40m 26s	$104K	$531K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bitget. 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 BitgetbpFee ExtendedbpOrdersPrice spread, now −0.073%Rate

Funding earned: $10.92
Price spread: −0.073% → −0.052%: −$2.08
Slippage, 4 orders: −$71.86
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$80.02
Costs to cover: 0.889%
Break-even: 58.3 days

Slippage from Bitget: live order book, 3 min ago; Extended: live order book, 47 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 Bitget live order book, 3 min ago	2.40 bp	15.4 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 47 min ago	11.93 bp	27.2 bp −$27	173.6 bp −$1,736	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 +0.0032% / S −0.0034%	1h	0.5833	−0.192%	$214K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+1.282%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5837	−0.132%	$21K	$448K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5839	−0.098%	$17.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5842	−0.046%	$13.3M	$55.5M	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5834	−0.183%	$5.1M	$6.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5835	−0.163%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDTlong	+0.0100%	4h	0.5845	long leg	$4.6M	$11.7M	20x
Variational Omni PONS	+0.0100%	4h	0.5819	−0.448%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5808	−0.633%	$34K	$328K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5843	−0.027%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5846	+0.022%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5843	−0.033%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5825	−0.334%	$63K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5819	−0.440%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5835	−0.174%	$363	—	3x	as long as short
BingX PONS-USDT	+0.0140%	4h	0.5841	−0.063%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0150%	4h	0.5839	−0.098%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0151%	4h	0.5840	−0.083%	$38.0M	$98.3M	20x	as long as short
Extended PONS-USDshort	+0.0152%	1h	0.5840	−0.073%	$104K	$531K	5x
edgeX PONSUSDC	+0.0158%	4h	0.5808	−0.632%	$20K	$294K	10x	as long as short
Aster PONSUSDT	+0.0172%	4h	0.5829	−0.272%	$1.1M	$2.2M	20x	as long as short
Nado PONS-PERP	+0.0173%	1h	0.5834	−0.181%	$88K	$103K	5x	as long as short
Lighter RH PONS	+0.0288%	1h	0.5830	−0.246%	$389K	$2.6M	3x	as long as short
Polymarket Perps PONS-USD	+0.0330%	1h	0.5839	−0.094%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0391%	4h	0.5819	−0.440%	$1.7M	$956K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5836	−0.155%	$46K	$102K	3x	as long as short
Hyperliquid PONS	+0.0581%	1h	0.5841	−0.070%	$58.3M	$30.1M	3x	as long as short
Lighter PONS	+0.0816%	1h	0.5834	−0.181%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5873	+0.488%	$27K	$86K	3x	as long as short