Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Extended against edgeX−0.274%53s7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$970.973% of the position

Long on edgeX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.274%, 7d avg −0.029%

Together, before fees+0.177%+ Points / potential airdropedgeX: Active · Extended: Active · farm board+$18 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: Extended is 0.245% cheaper against edgeX than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of −0.029%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX PONSUSDC	0.5980	0.0568	pay 0.0284% / 4h	28m 36s	$18K	$294K	10x
Short	Extended PONS-USD	0.5964	0.0568	get 0.0071% / 1h	28m 36s	$107K	$809K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against edgeX. 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 edgeXbpFee ExtendedbpOrdersPrice spread, now −0.274%Rate

Funding earned: $0.09
Price spread: −0.274% → −0.029%: −$24.49
Slippage, 4 orders: −$83.34
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$121.73
Costs to cover: 0.973%
Break-even: 9668.4 days

Slippage from edgeX: live order book, 29 min ago; Extended: live order book, 29 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 edgeX live order book, 29 min ago	11.84 bp	20.4 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 29 min ago	13.20 bp	27.6 bp −$28	188.7 bp −$1,887	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	0.5964	−0.277%	$237K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.177%	$614	$10K	5.5x	as long as short
Lighter PONS	+0.0096%	1h	0.5964	−0.269%	$1.6M	$884K	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5966	−0.235%	$20K	$435K	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5960	−0.336%	$5.3M	$6.3M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6004	+0.398%	$34K	$349K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5982	+0.027%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5983	+0.049%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5976	−0.068%	$26K	$533K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5992	+0.196%	$65K	$512K	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	0.5967	−0.219%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0215%	4h	0.5965	−0.245%	$1.4M	$3.9M	—	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.5977	−0.047%	$372	—	3x	as long as short
Nado PONS-PERP	+0.0249%	1h	0.5965	−0.248%	$70K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0306%	4h	0.5981	+0.015%	$13.6M	$54.7M	20x	as long as short
Lighter RH PONS	+0.0320%	1h	0.5968	−0.202%	$400K	$2.5M	3x	as long as short
Aster PONSUSDT	+0.0425%	4h	0.5966	−0.232%	$1.1M	$2.1M	20x	as long as short
Bybit PONSUSDT	+0.0459%	4h	0.5964	−0.269%	$17.8M	$30.8M	20x	as long as short
Bitget PONSUSDT	+0.0460%	4h	0.5977	−0.050%	$4.6M	$11.5M	20x	as long as short
BingX PONS-USDT	+0.0536%	4h	0.5967	−0.219%	—	$3.0M	—	as long as short
edgeX PONSUSDClong	+0.0568%	4h	0.5980	long leg	$18K	$294K	10x
Extended PONS-USDshort	+0.0568%	1h	0.5964	−0.274%	$107K	$809K	5x
MEXC PONS_USDT	+0.0570%	4h	0.5964	−0.269%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0571%	4h	0.5963	−0.285%	$39.0M	$94.9M	20x	as long as short
KuCoin PONSUSDTM	+0.0644%	4h	0.5965	−0.257%	$1.6M	$3.7M	20x	as long as short
Hyperliquid PONS	+0.0704%	1h	0.5968	−0.209%	$60.8M	$27.9M	3x	as long as short
BloFin PONS-USDT	+0.0810%	4h	0.5974	−0.102%	$1.7M	$953K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.5965	−0.259%	$47K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0900%	1h	0.5968	−0.207%	$66K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.5981	+0.009%	$31K	$104K	3x	as long as short