Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.044%

Price spread now: OKX against Extended+0.030%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$800.800% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.312%−$31 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now +0.030%, 7d avg −0.003%

Together, before fees−0.283%+ Points / potential airdropExtended: Active · farm board−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.033% dearer against Extended than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of −0.003%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.5898	0.0184	pay 0.0023% / 1h	33m 46s	$105K	$533K	5x
Short	OKX PONS-USDT-SWAP	0.5900	0.0100	get 0.0050% / 4h	2h 33m	$13.4M	$56.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$17.64
Price spread: +0.030% → −0.003%: $3.31
Slippage, 4 orders: −$65.05
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$94.38
Costs to cover: 0.800%
Break-even: never at this rate

Slippage from Extended: live order book, 54 min ago; OKX: live order book, 5 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, 54 min ago	11.93 bp	27.3 bp −$27	140.2 bp −$1,402	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.86 bp	9.9 bp −$10	28.9 bp −$289	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	0.5892	−0.100%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.362%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5899	+0.013%	$21K	$447K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5899	+0.013%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAPshort	+0.0100%	4h	0.5900	+0.030%	$13.4M	$56.1M	20x
KuCoin PONSUSDTM	+0.0100%	4h	0.5898	−0.004%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5899	+0.016%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5865	−0.559%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5866	−0.545%	$34K	$330K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5906	+0.131%	$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	0.5898	−0.008%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5897	−0.028%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5906	+0.136%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5895	−0.055%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5896	−0.038%	$367	—	3x	as long as short
Nado PONS-PERP	+0.0149%	1h	0.5898	−0.002%	$89K	$103K	5x	as long as short
BingX PONS-USDT	+0.0154%	4h	0.5896	−0.038%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0163%	4h	0.5834	−1.098%	$20K	$292K	10x	as long as short
MEXC PONS_USDT	+0.0182%	4h	0.5900	+0.030%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0182%	4h	0.5899	+0.018%	$38.3M	$98.3M	20x	as long as short
Extended PONS-USDlong	+0.0184%	1h	0.5898	long leg	$105K	$533K	5x
Gate PONS_USDT	+0.0206%	4h	0.5892	−0.106%	$5.1M	$6.8M	20x	as long as short
Aster PONSUSDT	+0.0223%	4h	0.5902	+0.067%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0335%	1h	0.5898	+0.004%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0409%	4h	0.5900	+0.030%	$1.7M	$968K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5898	+0.003%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0542%	1h	0.5897	−0.021%	$58.9M	$30.0M	3x	as long as short
Lighter RH PONS	+0.0592%	1h	0.5900	+0.028%	$394K	$2.6M	3x	as long as short
Lighter PONS	+0.1128%	1h	0.5906	+0.128%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5836	−1.049%	$27K	$86K	3x	as long as short