Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: Extended against MEXC+0.015%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$590.585% of the position

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.132%+$13 on $10k

Price spread, last 3 days (all we have)−0.093%−$9 · spread now +0.015%, 7d avg −0.025%

Together, before fees+0.038%+ Points / potential airdropExtended: Active · farm board+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.041% dearer against MEXC than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PONS_USDT	0.5997	0.0192	pay 0.0096% / 4h	1h 21m	$7.7M	$4.9M	20x
Short	Extended PONS-USD	0.5998	0.0192	get 0.0024% / 1h	21m 49s	$248K	$667K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against MEXC. 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 MEXCbpFee ExtendedbpOrdersPrice spread, now +0.015%Rate

Funding earned: $0
Price spread: +0.015% → −0.025%: $4.07
Slippage, 4 orders: −$53.52
Fee MEXC: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$54.45
Costs to cover: 0.585%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Extended: live order book, 61 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 MEXC live order book, 1 min ago	1.67 bp	4.5 bp −$4	11.6 bp −$116	273.1 bp −$27.3K	doesn't fit
Sell Extended live order book, 61 min ago	9.50 bp	24.8 bp −$25	149.2 bp −$1,492	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 −0.0034%	1h	0.5988	−0.156%	$220K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.459%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5995	−0.033%	$19K	$438K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5995	−0.033%	$17.9M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5995	−0.033%	$13.6M	$56.4M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5995	−0.033%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5996	−0.018%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5961	−0.596%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5994	−0.045%	$35K	$350K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6002	+0.083%	$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	0.5998	+0.010%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5994	−0.047%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6006	+0.153%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5993	−0.067%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5995	−0.033%	$373	—	3x	as long as short
Aster PONSUSDT	+0.0145%	4h	0.5996	−0.020%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0174%	4h	0.5991	−0.097%	$21K	$292K	10x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5993	−0.067%	—	$3.1M	—	as long as short
Extended PONS-USDshort	+0.0192%	1h	0.5998	+0.015%	$248K	$667K	5x
MEXC PONS_USDTlong	+0.0192%	4h	0.5997	long leg	$7.7M	$4.9M	20x
Binance PONSUSDT	+0.0192%	4h	0.5997	0.000%	$39.0M	$97.8M	20x	as long as short
Nado PONS-PERP	+0.0234%	1h	0.5991	−0.100%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0400%	1h	0.5995	−0.038%	$423K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0432%	4h	0.5985	−0.200%	$1.7M	$981K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5998	+0.015%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0502%	1h	0.5994	−0.043%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0680%	1h	0.5995	−0.035%	$60.6M	$30.1M	3x	as long as short
Lighter PONS	+0.0752%	1h	0.5995	−0.033%	$1.7M	$998K	3x	as long as short
Gate PONS_USDT	+0.1318%	4h	0.5993	−0.067%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5990	−0.122%	$30K	$96K	3x	as long as short