Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.078%

Price spread now: Extended against BloFin+0.020%7-day average −0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$900.904% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.415%−$42 on $10k

Price spread, last 4 days (all we have)−0.606%−$61 · spread now +0.020%, 7d avg −0.059%

Together, before fees−1.022%+ Points / potential airdropExtended: Active · farm board−$102 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.078% dearer against BloFin than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.059%): +$8 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PONS-USDT	0.6258	0.0888	pay 0.0444% / 4h	3h 24m	$1.8M	$1.1M	20x
Short	Extended PONS-USD	0.6259	0.0648	get 0.0081% / 1h	24m 44s	$105K	$814K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$50.45
Price spread: +0.020% → −0.059%: $7.84
Slippage, 4 orders: −$73.36
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$132.96
Costs to cover: 0.904%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Extended: 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 BloFin live order book, 3 min ago	2.41 bp	20.7 bp −$21	48.9 bp −$489	doesn't fit	doesn't fit
Sell Extended live order book, 8 min ago	10.52 bp	26.0 bp −$26	195.8 bp −$1,958	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 −0.0030%	1h	0.6243	−0.245%	$244K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−5.105%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6253	−0.080%	$23K	$436K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6244	−0.227%	$73K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6217	−0.660%	$31K	$290K	5x	as long as short
Polymarket Perps PONS-USD	+0.0100%	1h	0.6240	−0.280%	$73K	$2.2M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6257	−0.013%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6247	−0.179%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6253	−0.075%	$26K	$628K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6259	+0.018%	$66K	$528K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6251	−0.112%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6252	−0.103%	$389	—	3x	as long as short
Hyperliquid PONS	+0.0306%	1h	0.6256	−0.035%	$64.1M	$30.4M	3x	as long as short
Lighter RH PONS	+0.0328%	1h	0.6258	−0.005%	$423K	$2.7M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0433%	4h	0.6258	0.000%	$14.3M	$60.8M	20x	as long as short
Aster PONSUSDT	+0.0450%	4h	0.6254	−0.061%	$1.1M	$2.3M	20x	as long as short
Lighter PONS	+0.0480%	1h	0.6259	+0.016%	$1.7M	$870K	3x	as long as short
KuCoin PONSUSDTM	+0.0480%	4h	0.6258	+0.005%	$1.7M	$4.1M	20x	as long as short
Variational Omni PONS	+0.0562%	4h	0.6214	−0.698%	$1.6M	$4.5M	—	as long as short
Extended PONS-USDshort	+0.0648%	1h	0.6259	+0.020%	$105K	$814K	5x
MEXC PONS_USDT	+0.0648%	4h	0.6260	+0.032%	$8.0M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0656%	4h	0.6224	−0.545%	$21K	$291K	10x	as long as short
Binance PONSUSDT	+0.0665%	4h	0.6259	+0.016%	$41.1M	$103.9M	20x	as long as short
Bitget PONSUSDT	+0.0728%	4h	0.6261	+0.050%	$5.0M	$13.2M	20x	as long as short
Pacifica PONS	+0.0853%	1h	0.6255	−0.045%	$47K	$78K	3x	as long as short
BloFin PONS-USDTlong	+0.0888%	4h	0.6258	long leg	$1.8M	$1.1M	20x
BingX PONS-USDT	+0.0936%	4h	0.6256	−0.032%	—	$3.2M	—	as long as short
Bybit PONSUSDT	+0.0998%	4h	0.6255	−0.048%	$18.8M	$33.2M	20x	as long as short
Gate PONS_USDT	+0.1180%	4h	0.6244	−0.224%	$5.4M	$6.4M	20x	as long as short
Phoenix PONS	+0.1714%	1h	0.6229	−0.471%	$47K	$159K	3x	as long as short