Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0228%/8h= +25.0% APRpaid last 24h +0.068%

Price spread now: BloFin against Extended−0.163%114s7-day average +0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as 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−$790.787% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.381%+$38 on $10k

Price spread, last 3 days (all we have)+0.401%+$40 · spread now −0.163%, 7d avg +0.076%

Together, before fees+0.782%+ Points / potential airdropExtended: Active · farm board+$78 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.239% cheaper against Extended than usual: you would sell low and buy high (spread −0.163% now, against its 7-day average of +0.076%). If the spread goes back, that is −$24 on $10k: about 3.5 days of funding at the current rate (+$7 a day). The two prices were read 114 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	Extended PONS-USD	0.6106	0.0376	pay 0.0047% / 1h	15m 19s	$252K	$678K	5x
Short	BloFin PONS-USDT	0.6096	0.0604	get 0.0302% / 4h	3h 15m	$1.8M	$990K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. 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 ExtendedbpFee BloFinbpOrdersPrice spread, now −0.163%Rate

Funding earned: $47.94
Price spread: −0.163% → +0.076%: −$23.93
Slippage, 4 orders: −$61.66
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$54.65
Costs to cover: 0.787%
Break-even: 15.0 days

Slippage from Extended: live order book, 58 min ago; BloFin: live order book, 2 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 Extended live order book, 58 min ago	10.10 bp	26.8 bp −$27	157.6 bp −$1,576	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	4.92 bp	14.4 bp −$14	41.7 bp −$417	137.2 bp −$13.7K	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	0.6095	−0.184%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.235%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6095	−0.179%	$429K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6105	−0.016%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6089	−0.285%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6088	−0.296%	$33K	$356K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6113	+0.117%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6103	−0.040%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6108	+0.029%	$28K	$542K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6120	+0.232%	$65K	$510K	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	0.6106	+0.001%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.6107	+0.022%	$380	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0190%	4h	0.6106	+0.001%	$14.0M	$56.6M	20x	as long as short
KuCoin PONSUSDTM	+0.0200%	4h	0.6101	−0.081%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0266%	4h	0.6110	+0.066%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0293%	4h	0.6096	−0.158%	$1.1M	$2.1M	20x	as long as short
edgeX PONSUSDC	+0.0363%	4h	0.6098	−0.135%	$21K	$294K	10x	as long as short
MEXC PONS_USDT	+0.0364%	4h	0.6105	−0.016%	$7.9M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0374%	4h	0.6108	+0.041%	$40.1M	$96.3M	20x	as long as short
Extended PONS-USDlong	+0.0376%	1h	0.6106	long leg	$252K	$678K	5x
Lighter PONS	+0.0416%	1h	0.6096	−0.170%	$1.7M	$933K	3x	as long as short
BingX PONS-USDT	+0.0560%	4h	0.6109	+0.050%	—	$3.1M	—	as long as short
BloFin PONS-USDTshort	+0.0604%	4h	0.6096	−0.163%	$1.8M	$990K	20x
Bybit PONSUSDT	+0.0607%	4h	0.6105	−0.016%	$18.3M	$30.9M	20x	as long as short
Nado PONS-PERP	+0.0607%	1h	0.6101	−0.088%	$105K	$115K	5x	as long as short
Pacifica PONS	+0.0665%	1h	0.6099	−0.112%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0772%	1h	0.6106	−0.004%	$45K	$1.6M	3x	as long as short
Gate PONS_USDT	+0.0830%	4h	0.6097	−0.147%	$5.3M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0869%	1h	0.6106	−0.004%	$62.1M	$29.1M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6094	−0.201%	$32K	$113K	3x	as long as short