Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.096%

Price spread now: SunX against Extended+0.115%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$366as in the Funding arb table

Net, price: spread back to 7d avg − costs−$303as in the Price arb table

costs, in and out, $10k−$3073.075% of the position

Long on Extended Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.581%−$58 on $10k

Price spread, last 3 days (all we have)+0.224%+$22 · spread now +0.115%, 7d avg +0.069%

Together, before fees−0.357%+ Points / potential airdropExtended: Active · farm board−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.046% dearer against Extended than usual: you sell high and buy low (spread +0.115% now, against its 7-day average of +0.069%): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.6087	0.0248	pay 0.0031% / 1h	56m 42s	$251K	$680K	5x
Short	SunX PONS-USDT	0.6094	0.0100	get 0.0050% / 4h	56m 42s	—	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$31.08
Price spread: +0.115% → +0.069%: $4.57
Slippage, 4 orders: −$294.47
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$333.98
Costs to cover: 3.075%
Break-even: never at this rate

Slippage from Extended: live order book, 21 min ago; SunX: live order book, 8 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, 21 min ago	11.94 bp	28.6 bp −$29	198.0 bp −$1,980	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	106.47 bp	127.0 bp −$127	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−1.928%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6086	−0.019%	$229K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6092	+0.085%	$21K	$450K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6093	+0.093%	$86K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6087	+0.003%	$18.4M	$31.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6087	+0.003%	$13.8M	$57.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6085	−0.032%	$1.8M	$3.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6093	+0.104%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6095	+0.128%	$33K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6101	+0.230%	$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-USDTshort	+0.0100%	4h	0.6094	+0.115%	—	$1.4M	10x
SoDEX PONS-USD	+0.0100%	1h	0.6095	+0.126%	$28K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6100	+0.225%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6085	−0.030%	$1.7M	$3.3M	20x	as long as short
Bitget PONSUSDT	+0.0102%	4h	0.6088	+0.018%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0144%	1h	0.6098	+0.177%	$380	—	3x	as long as short
Lighter RH PONS	+0.0160%	1h	0.6087	+0.003%	$429K	$2.6M	3x	as long as short
Aster PONSUSDT	+0.0176%	4h	0.6084	−0.055%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0240%	1h	0.6087	+0.003%	$1.7M	$921K	3x	as long as short
Extended PONS-USDlong	+0.0248%	1h	0.6087	long leg	$251K	$680K	5x
MEXC PONS_USDT	+0.0250%	4h	0.6087	+0.003%	$8.1M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0250%	4h	0.6087	+0.003%	$39.6M	$98.7M	20x	as long as short
BingX PONS-USDT	+0.0252%	4h	0.6081	−0.096%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0258%	4h	0.6096	+0.150%	$21K	$292K	10x	as long as short
BloFin PONS-USDT	+0.0489%	4h	0.6098	+0.184%	$1.7M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0636%	1h	0.6093	+0.105%	$40K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0866%	1h	0.6088	+0.026%	$61.8M	$30.6M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6085	−0.025%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.6092	+0.087%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.1772%	4h	0.6083	−0.063%	$5.3M	$6.2M	20x	as long as short