Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.001%

Price spread now: Extended against Bybit−0.011%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$840.844% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.184%+$18 on $10k

Price spread, last 4 days (all we have)−0.083%−$8 · spread now −0.011%, 7d avg 0.000%

Together, before fees+0.101%+ Points / potential airdropExtended: Active · farm board+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of 0.000%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.184%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PONSUSDT	0.6344	0.0852	pay 0.0426% / 4h	2h 01m	$19.3M	$32.7M	20x
Short	Extended PONS-USD	0.6343	0.0672	get 0.0084% / 1h	1m 14s	$179K	$877K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$37.86
Price spread: −0.011% → 0.000%: −$1.09
Slippage, 4 orders: −$68.43
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$123.37
Costs to cover: 0.844%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Extended: live order book, 49 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 Bybit live order book, 1 min ago	1.58 bp	18.0 bp −$18	38.9 bp −$389	doesn't fit	doesn't fit
Sell Extended live order book, 49 min ago	10.83 bp	26.8 bp −$27	133.1 bp −$1,331	doesn't fit	doesn't fit

PONS on 30 exchanges

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	0.6328	−0.253%	$249K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−6.392%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6343	−0.016%	$23K	$405K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6335	−0.140%	$77K	$109K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6348	+0.066%	$32K	$280K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6347	+0.052%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6344	−0.006%	—	$905K	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6347	+0.049%	$27K	$636K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6348	+0.060%	$67K	$535K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6351	+0.110%	$1.7M	$3.2M	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0240%	1h	0.6368	+0.380%	$397	—	3x	as long as short
Hyperliquid PONS	+0.0383%	1h	0.6342	−0.037%	$65.0M	$31.0M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0414%	4h	0.6345	+0.016%	$14.4M	$60.4M	20x	as long as short
Lighter RH PONS	+0.0472%	1h	0.6337	−0.110%	$445K	$2.7M	3x	as long as short
KuCoin PONSUSDTM	+0.0478%	4h	0.6340	−0.060%	$1.8M	$4.3M	20x	as long as short
Polymarket Perps PONS-USD	+0.0519%	1h	0.6340	−0.063%	$75K	$2.2M	3x	as long as short
Aster PONSUSDT	+0.0528%	4h	0.6335	−0.142%	$1.2M	$2.2M	20x	as long as short
Lighter PONS	+0.0608%	1h	0.6338	−0.099%	$1.8M	$875K	3x	as long as short
Variational Omni PONS	+0.0658%	4h	0.6345	+0.016%	$1.6M	$4.3M	—	as long as short
Extended PONS-USDshort	+0.0672%	1h	0.6343	−0.011%	$179K	$877K	5x
MEXC PONS_USDT	+0.0672%	4h	0.6346	+0.032%	$7.9M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0673%	4h	0.6344	+0.006%	$41.6M	$101.4M	20x	as long as short
edgeX PONSUSDC	+0.0701%	4h	0.6341	−0.045%	$19K	$294K	10x	as long as short
Bitget PONSUSDT	+0.0754%	4h	0.6352	+0.121%	$5.1M	$13.6M	20x	as long as short
BingX PONS-USDT	+0.0794%	4h	0.6339	−0.079%	—	$3.1M	—	as long as short
Pacifica PONS	+0.0810%	1h	0.6337	−0.104%	$46K	$76K	3x	as long as short
Bybit PONSUSDTlong	+0.0852%	4h	0.6344	long leg	$19.3M	$32.7M	20x
BloFin PONS-USDT	+0.0915%	4h	0.6347	+0.047%	$1.9M	$1.1M	20x	as long as short
Gate PONS_USDT	+0.0954%	4h	0.6338	−0.095%	$5.5M	$6.6M	20x	as long as short
Phoenix PONS	+0.1668%	1h	0.6353	+0.139%	$48K	$162K	3x	as long as short