Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h +0.041%

Price spread now: BingX against Extended+0.043%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$780.779% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 4 days (all we have)−0.140%−$14 · spread now +0.043%, 7d avg +0.047%

Together, before fees−0.067%+ Points / potential airdropExtended: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.047%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.073%, 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	Extended PONS-USD	0.6041	0.0600	pay 0.0075% / 1h	23m 13s	$108K	$812K	5x
Short	BingX PONS-USDT	0.6044	0.0542	get 0.0271% / 4h	23m 13s	—	$3.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$12.18
Price spread: +0.043% → +0.047%: −$0.49
Slippage, 4 orders: −$62.9
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$90.56
Costs to cover: 0.779%
Break-even: never at this rate

Slippage from Extended: live order book, 35 min ago; BingX: live order book, 11 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 Extended live order book, 35 min ago	13.20 bp	27.2 bp −$27	224.6 bp −$2,246	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	0.84 bp	10.0 bp −$10	36.1 bp −$361	157.8 bp −$15.8K	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 −0.0032%	1h	0.6027	−0.232%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.191%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6034	−0.123%	$20K	$435K	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.6037	−0.073%	$5.3M	$6.3M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6027	−0.234%	$35K	$348K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6042	+0.006%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6049	+0.134%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6040	−0.020%	$26K	$534K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6055	+0.230%	$66K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6032	−0.156%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0224%	1h	0.6048	+0.109%	$377	—	3x	as long as short
Variational Omni PONS	+0.0242%	4h	0.6026	−0.249%	$1.4M	$4.0M	—	as long as short
Nado PONS-PERP	+0.0281%	1h	0.6036	−0.092%	$71K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0316%	4h	0.6040	−0.024%	$13.7M	$55.4M	20x	as long as short
Lighter PONS	+0.0320%	1h	0.6041	−0.014%	$1.7M	$884K	3x	as long as short
Bybit PONSUSDT	+0.0453%	4h	0.6041	−0.007%	$18.0M	$30.8M	20x	as long as short
Lighter RH PONS	+0.0472%	1h	0.6041	+0.001%	$409K	$2.5M	3x	as long as short
Bitget PONSUSDT	+0.0474%	4h	0.6041	−0.009%	$4.6M	$11.5M	20x	as long as short
Aster PONSUSDT	+0.0475%	4h	0.6038	−0.048%	$1.1M	$2.1M	20x	as long as short
BingX PONS-USDTshort	+0.0542%	4h	0.6044	+0.043%	—	$3.0M	—
edgeX PONSUSDC	+0.0579%	4h	0.6042	+0.006%	$18K	$292K	10x	as long as short
Extended PONS-USDlong	+0.0600%	1h	0.6041	long leg	$108K	$812K	5x
MEXC PONS_USDT	+0.0600%	4h	0.6039	−0.040%	$7.7M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0601%	4h	0.6041	−0.010%	$39.5M	$95.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0656%	4h	0.6039	−0.045%	$1.7M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0772%	1h	0.6043	+0.026%	$61.7M	$28.2M	3x	as long as short
BloFin PONS-USDT	+0.0841%	4h	0.6046	+0.076%	$1.7M	$960K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.6039	−0.035%	$48K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0898%	1h	0.6035	−0.103%	$73K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6020	−0.358%	$31K	$104K	3x	as long as short