PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0047%/8h= −5.1% APRnext payment −$0.06 per $10,000 · paid last 24h +0.092%

Price spread now: Hyperliquid against Extended+0.062%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$780.783% of the position

Long on Extended Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.150%−$15 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now +0.062%, 7d avg +0.029%

Together, before fees−0.127%+ Points / potential airdropExtended: Active · Hyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.033% dearer against Extended than usual: you sell high and buy low (spread +0.062% now, against its 7-day average of +0.029%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.5945	0.0184	pay 0.0023% / 1h	2m 52s	$106K	$535K	5x
Short	Hyperliquid PONS	0.5949	0.0137	get 0.0017% / 1h	2m 52s	$59.2M	$29.4M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$9.78
Price spread: +0.062% → +0.029%: $3.27
Slippage, 4 orders: −$64.26
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$84.78
Costs to cover: 0.783%
Break-even: never at this rate

Slippage from Extended: live order book, 25 min ago; Hyperliquid: live order book, 11 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, 25 min ago	11.93 bp	27.3 bp −$27	140.2 bp −$1,402	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	2.95 bp	15.0 bp −$15	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 −0.0032%	1h	0.5942	−0.065%	$213K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5920	−0.435%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5945	−0.007%	$21K	$465K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5948	+0.043%	$84K	$100K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5944	−0.024%	$18.1M	$31.4M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5943	−0.041%	$13.6M	$56.4M	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5937	−0.142%	$5.2M	$7.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5945	−0.016%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5946	+0.015%	$4.6M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5922	−0.400%	$1.4M	$4.3M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni PONSUSDT	+0.0100%	1h	0.5923	−0.382%	$34K	$324K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5953	+0.124%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5952	+0.105%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5948	+0.040%	$27K	$535K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5945	−0.016%	$64K	$503K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5949	+0.060%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5948	+0.047%	$371	—	3x	as long as short
Hyperliquid PONSshort	+0.0137%	1h	0.5949	+0.062%	$59.2M	$29.4M	3x
MEXC PONS_USDT	+0.0180%	4h	0.5946	+0.010%	$7.7M	$5.3M	20x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5948	+0.043%	—	$3.1M	—	as long as short
Binance PONSUSDT	+0.0183%	4h	0.5946	+0.010%	$38.7M	$98.3M	20x	as long as short
Extended PONS-USDlong	+0.0184%	1h	0.5945	long leg	$106K	$535K	5x
edgeX PONSUSDC	+0.0196%	4h	0.5922	−0.402%	$21K	$293K	10x	as long as short
Aster PONSUSDT	+0.0245%	4h	0.5939	−0.114%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0279%	1h	0.5941	−0.070%	$47K	$102K	3x	as long as short
Lighter RH PONS	+0.0336%	1h	0.5947	+0.026%	$401K	$2.6M	3x	as long as short
BloFin PONS-USDT	+0.0423%	4h	0.5946	+0.010%	$1.7M	$993K	20x	as long as short
Polymarket Perps PONS-USD	+0.0486%	1h	0.5948	+0.048%	$42K	$1.8M	3x	as long as short
Lighter PONS	+0.0968%	1h	0.5950	+0.073%	$1.7M	$914K	3x	as long as short
Phoenix PONS	+0.1232%	1h	0.5913	−0.539%	$27K	$80K	3x	as long as short