Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0236%/8h= −25.9% APRpaid last 24h −0.078%

Price spread now: Extended against BloFin−0.014%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$780.781% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.376%−$38 on $10k

Price spread, last 3 days (all we have)−0.277%−$28 · spread now −0.014%, 7d avg −0.076%

Together, before fees−0.653%+ Points / potential airdropExtended: Active · farm board−$65 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.062% dearer against BloFin than usual: you sell high and buy low (spread −0.014% now, against its 7-day average of −0.076%): +$6 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PONS-USDT	0.6091	0.0532	pay 0.0266% / 4h	4m 39s	$1.8M	$1.0M	20x
Short	Extended PONS-USD	0.6090	0.0296	get 0.0037% / 1h	4m 39s	$252K	$682K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee ExtendedbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$49.64
Price spread: −0.014% → −0.076%: $6.24
Slippage, 4 orders: −$61.08
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$121.48
Costs to cover: 0.781%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Extended: 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 BloFin live order book, 3 min ago	4.11 bp	12.9 bp −$13	42.9 bp −$429	doesn't fit	doesn't fit
Sell Extended live order book, 8 min ago	10.10 bp	23.7 bp −$24	216.2 bp −$2,162	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−1.995%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6081	−0.165%	$241K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6089	−0.028%	$426K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6088	−0.049%	$20K	$421K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6085	−0.099%	$18.3M	$31.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6086	−0.082%	$13.9M	$57.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6076	−0.252%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6096	+0.079%	$32K	$357K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6090	−0.011%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6092	+0.020%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USD	+0.0100%	1h	0.6091	+0.003%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6089	−0.036%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6095	+0.066%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0122%	4h	0.6090	−0.011%	$1.7M	$3.8M	20x	as long as short
Aster PONSUSDT	+0.0151%	4h	0.6089	−0.038%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6088	−0.052%	$379	—	3x	as long as short
Bitget PONSUSDT	+0.0162%	4h	0.6095	+0.067%	$4.7M	$11.7M	20x	as long as short
Nado PONS-PERP	+0.0203%	1h	0.6089	−0.033%	$105K	$116K	5x	as long as short
MEXC PONS_USDT	+0.0292%	4h	0.6091	0.000%	$8.0M	$4.9M	20x	as long as short
Extended PONS-USDshort	+0.0296%	1h	0.6090	−0.014%	$252K	$682K	5x
Binance PONSUSDT	+0.0297%	4h	0.6089	−0.033%	$39.9M	$98.3M	20x	as long as short
BingX PONS-USDT	+0.0304%	4h	0.6094	+0.049%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0316%	4h	0.6086	−0.081%	$21K	$293K	10x	as long as short
Lighter PONS	+0.0336%	1h	0.6092	+0.013%	$1.7M	$935K	3x	as long as short
BloFin PONS-USDTlong	+0.0532%	4h	0.6091	long leg	$1.8M	$1.0M	20x
Polymarket Perps PONS-USD	+0.0646%	1h	0.6089	−0.036%	$42K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0837%	1h	0.6093	+0.036%	$62.0M	$29.9M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6090	−0.018%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6085	−0.099%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2214%	4h	0.6089	−0.033%	$5.3M	$6.3M	20x	as long as short