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 +0.006%

Price spread now: Extended against KuCoin−0.049%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1201.202% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.333%+$33 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.049%, 7d avg −0.002%

Together, before fees+0.406%+ Points / potential airdropExtended: Active · farm board+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.046% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.049% now, against its 7-day average of −0.002%). If the spread goes back, that is −$5 on $10k: about 44 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PONSUSDTM	0.5903	0.0100	pay 0.0050% / 4h	2h 25m	$1.7M	$3.7M	20x
Short	Extended PONS-USD	0.5900	0.0184	get 0.0023% / 1h	25m 43s	$105K	$533K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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 KuCoinbpFee ExtendedbpOrdersPrice spread, now −0.049%Rate

Funding earned: $17.64
Price spread: −0.049% → −0.002%: −$4.63
Slippage, 4 orders: −$103.19
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$107.17
Costs to cover: 1.202%
Break-even: 49.5 days

Slippage from KuCoin: live order book, 2 min ago; Extended: live order book, 62 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 KuCoin live order book, 2 min ago	6.69 bp	32.3 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 62 min ago	11.93 bp	27.2 bp −$27	173.6 bp −$1,736	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	0.5900	−0.048%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.278%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5909	+0.098%	$21K	$446K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5906	+0.053%	$89K	$103K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5903	−0.003%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5903	−0.003%	$13.4M	$56.1M	20x	as long as short
KuCoin PONSUSDTMlong	+0.0100%	4h	0.5903	long leg	$1.7M	$3.7M	20x
Bitget PONSUSDT	+0.0100%	4h	0.5903	−0.002%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5903	+0.001%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5903	−0.007%	$34K	$332K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5916	+0.219%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5908	+0.083%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5907	+0.066%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5913	+0.163%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5899	−0.071%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5908	+0.086%	$368	—	3x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5900	−0.054%	—	$3.1M	—	as long as short
Binance PONSUSDT	+0.0183%	4h	0.5904	+0.022%	$38.4M	$98.3M	20x	as long as short
Extended PONS-USDshort	+0.0184%	1h	0.5900	−0.049%	$105K	$533K	5x
MEXC PONS_USDT	+0.0184%	4h	0.5900	−0.054%	$7.5M	$5.2M	20x	as long as short
edgeX PONSUSDC	+0.0187%	4h	0.5907	+0.058%	$21K	$294K	10x	as long as short
Aster PONSUSDT	+0.0208%	4h	0.5903	−0.007%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0344%	1h	0.5908	+0.088%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0424%	4h	0.5909	+0.098%	$1.7M	$967K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5908	+0.085%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0503%	1h	0.5906	+0.041%	$59.1M	$30.1M	3x	as long as short
Gate PONS_USDT	+0.0560%	4h	0.5901	−0.037%	$5.2M	$6.8M	20x	as long as short
Lighter RH PONS	+0.0640%	1h	0.5905	+0.032%	$396K	$2.6M	3x	as long as short
Lighter PONS	+0.1080%	1h	0.5909	+0.107%	$1.7M	$882K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5912	+0.144%	$27K	$86K	3x	as long as short