Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h +0.007%

Price spread now: edgeX against Extended−0.259%113s7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as 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−$910.913% of the position

Long on Extended Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$10 on $10k

Price spread, last 3 days (all we have)+0.454%+$45 · spread now −0.259%, 7d avg +0.027%

Together, before fees+0.349%+ Points / potential airdropExtended: Active · edgeX: Active · farm board+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.286% cheaper against Extended than usual: you would sell low and buy high (spread −0.259% now, against its 7-day average of +0.027%). If the spread goes back, that is −$29 on $10k: about 3 months of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.105%, so the current rate has only just turned in your favour. The two prices were read 113 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	0.5916	0.0176	pay 0.0022% / 1h	53m 42s	$106K	$531K	5x
Short	edgeX PONSUSDC	0.5901	0.0185	get 0.0093% / 4h	1h 53m	$21K	$292K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.259%Rate

Funding earned: $1.94
Price spread: −0.259% → +0.027%: −$28.61
Slippage, 4 orders: −$77.32
Fee Extended: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$117.98
Costs to cover: 0.913%
Break-even: 431.7 days

Slippage from Extended: live order book, 29 min ago; edgeX: 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 Extended live order book, 29 min ago	9.50 bp	24.7 bp −$25	163.3 bp −$1,633	doesn't fit	doesn't fit
Sell edgeX live order book, 29 min ago	11.86 bp	20.3 bp −$20	doesn't fit	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	0.5916	+0.002%	$217K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5920	+0.062%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5929	+0.221%	$21K	$441K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5915	−0.016%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5917	+0.018%	$13.4M	$56.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5916	−0.008%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5918	+0.035%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5914	−0.024%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5916	+0.006%	$34K	$342K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5927	+0.189%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5925	+0.160%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5919	+0.052%	$27K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5936	+0.339%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5915	−0.016%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5921	+0.085%	$369	—	3x	as long as short
Aster PONSUSDT	+0.0147%	4h	0.5921	+0.089%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0172%	4h	0.5914	−0.033%	$7.5M	$4.9M	20x	as long as short
BingX PONS-USDT	+0.0172%	4h	0.5914	−0.033%	—	$3.1M	—	as long as short
Binance PONSUSDT	+0.0172%	4h	0.5917	+0.013%	$38.4M	$98.1M	20x	as long as short
Extended PONS-USDlong	+0.0176%	1h	0.5916	long leg	$106K	$531K	5x
edgeX PONSUSDCshort	+0.0185%	4h	0.5901	−0.259%	$21K	$292K	10x
Nado PONS-PERP	+0.0218%	1h	0.5928	+0.204%	$90K	$103K	5x	as long as short
Lighter RH PONS	+0.0408%	1h	0.5919	+0.047%	$421K	$2.6M	3x	as long as short
BloFin PONS-USDT	+0.0411%	4h	0.5929	+0.221%	$1.7M	$976K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5916	+0.005%	$47K	$103K	3x	as long as short
Polymarket Perps PONS-USD	+0.0532%	1h	0.5929	+0.227%	$37K	$1.8M	3x	as long as short
Hyperliquid PONS	+0.0581%	1h	0.5920	+0.072%	$59.5M	$29.9M	3x	as long as short
Lighter PONS	+0.0816%	1h	0.5919	+0.052%	$1.7M	$981K	3x	as long as short
Gate PONS_USDT	+0.0992%	4h	0.5915	−0.016%	$5.2M	$6.4M	20x	as long as short
Phoenix PONS	+0.1275%	1h	0.5917	+0.021%	$30K	$96K	3x	as long as short