Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1468%/8h= +160.7% APRpaid last 24h −0.002%

Price spread now: Gate against Extended−0.258%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$129as in the Price arb table

costs, in and out, $10k−$1071.069% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.148%−$15 on $10k

Price spread, last 4 days (all we have)+0.264%+$26 · spread now −0.258%, 7d avg −0.033%

Together, before fees+0.116%+ Points / potential airdropExtended: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.225% cheaper against Extended than usual: you would sell low and buy high (spread −0.258% now, against its 7-day average of −0.033%). If the spread goes back, that is −$22 on $10k: about 12 hours of funding at the current rate (+$44 a day). Mind the row above: over the last 7 days funding on this pair cost −0.148%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.148% in total (about -7.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.6117	0.0240	pay 0.0030% / 1h	0m 15s	$253K	$680K	5x
Short	Gate PONS_USDT	0.6101	0.1708	get 0.0854% / 4h	1h 00m	$5.3M	$6.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now −0.258%Rate

Funding earned: $308.28
Price spread: −0.258% → −0.033%: −$22.48
Slippage, 4 orders: −$86.95
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $178.85
Costs to cover: 1.069%
Break-even: 2.9 days

Slippage from Extended: live order book, 18 min ago; Gate: live order book, 3 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, 18 min ago	11.94 bp	28.6 bp −$29	198.0 bp −$1,980	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	2.48 bp	24.5 bp −$25	86.3 bp −$863	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 −0.0036%	1h	0.6107	−0.162%	$230K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.408%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6110	−0.111%	$18K	$446K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6113	−0.062%	$18.4M	$31.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6117	+0.003%	$13.8M	$58.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6113	−0.057%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.6116	−0.018%	$4.8M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6093	−0.386%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6050	−1.084%	$35K	$356K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6122	+0.090%	$3K	$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	0.6110	−0.103%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6111	−0.087%	$28K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6103	−0.227%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6105	−0.193%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0136%	1h	0.6114	−0.046%	$381	—	3x	as long as short
Aster PONSUSDT	+0.0183%	4h	0.6110	−0.111%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0195%	4h	0.6058	−0.969%	$21K	$294K	10x	as long as short
BingX PONS-USDT	+0.0196%	4h	0.6111	−0.095%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0212%	1h	0.6110	−0.113%	$86K	$107K	5x	as long as short
MEXC PONS_USDT	+0.0220%	4h	0.6110	−0.111%	$8.1M	$5.0M	20x	as long as short
Binance PONSUSDT	+0.0239%	4h	0.6116	−0.006%	$39.8M	$98.6M	20x	as long as short
Extended PONS-USDlong	+0.0240%	1h	0.6117	long leg	$253K	$680K	5x
Lighter RH PONS	+0.0352%	1h	0.6106	−0.172%	$431K	$2.7M	3x	as long as short
Pacifica PONS	+0.0451%	1h	0.6106	−0.171%	$48K	$96K	3x	as long as short
BloFin PONS-USDT	+0.0461%	4h	0.6089	−0.454%	$1.7M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0533%	1h	0.6113	−0.064%	$40K	$1.7M	3x	as long as short
Lighter PONS	+0.0696%	1h	0.6116	−0.021%	$1.7M	$1.0M	3x	as long as short
Hyperliquid PONS	+0.0715%	1h	0.6114	−0.038%	$62.1M	$30.5M	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.6074	−0.706%	$31K	$96K	3x	as long as short
Gate PONS_USDTshort	+0.1708%	4h	0.6101	−0.258%	$5.3M	$6.5M	20x