Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h −0.019%

Price spread now: Extended against Bitget+0.001%7-day average −0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$810.810% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.194%+$19 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now +0.001%, 7d avg −0.052%

Together, before fees+0.152%+ Points / potential airdropExtended: Active · farm board+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Extended is 0.054% dearer against Bitget than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PONSUSDT	0.5902	0.0100	pay 0.0050% / 4h	2h 20m	$4.6M	$11.7M	20x
Short	Extended PONS-USD	0.5902	0.0176	get 0.0022% / 1h	20m 55s	$106K	$533K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bitget. 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 BitgetbpFee ExtendedbpOrdersPrice spread, now +0.001%Rate

Funding earned: $15.96
Price spread: +0.001% → −0.052%: $5.35
Slippage, 4 orders: −$64.05
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$59.73
Costs to cover: 0.810%
Break-even: 33.2 days

Slippage from Bitget: live order book, 3 min ago; Extended: live order book, 2 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 Bitget live order book, 3 min ago	3.39 bp	15.3 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 2 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 +0.0032% / S −0.0034%	1h	0.5894	−0.133%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.295%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5905	+0.047%	$21K	$446K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5904	+0.030%	$89K	$103K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5899	−0.054%	$17.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5902	−0.003%	$13.4M	$56.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5902	−0.003%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDTlong	+0.0100%	4h	0.5902	long leg	$4.6M	$11.7M	20x
Variational Omni PONS	+0.0100%	4h	0.5909	+0.112%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5895	−0.117%	$34K	$333K	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	0.5909	+0.112%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5910	+0.129%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5901	−0.019%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5911	+0.147%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5896	−0.105%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5902	−0.003%	$368	—	3x	as long as short
Extended PONS-USDshort	+0.0176%	1h	0.5902	+0.001%	$106K	$533K	5x
Binance PONSUSDT	+0.0178%	4h	0.5904	+0.024%	$38.4M	$98.4M	20x	as long as short
MEXC PONS_USDT	+0.0178%	4h	0.5903	+0.014%	$7.5M	$5.2M	20x	as long as short
edgeX PONSUSDC	+0.0182%	4h	0.5896	−0.104%	$21K	$293K	10x	as long as short
BingX PONS-USDT	+0.0184%	4h	0.5901	−0.020%	—	$3.1M	—	as long as short
Aster PONSUSDT	+0.0194%	4h	0.5904	+0.029%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0352%	1h	0.5906	+0.058%	$37K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0418%	4h	0.5909	+0.115%	$1.7M	$967K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5910	+0.131%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0492%	1h	0.5905	+0.053%	$59.1M	$30.0M	3x	as long as short
Lighter RH PONS	+0.0616%	1h	0.5904	+0.030%	$414K	$2.6M	3x	as long as short
Gate PONS_USDT	+0.0666%	4h	0.5899	−0.054%	$5.2M	$6.8M	20x	as long as short
Lighter PONS	+0.1016%	1h	0.5907	+0.081%	$1.7M	$885K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5904	+0.030%	$30K	$86K	3x	as long as short