Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h +0.003%

Price spread now: edgeX against Extended−0.263%73s7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$910.913% of the position

Long on Extended Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 3 days (all we have)+0.458%+$46 · spread now −0.263%, 7d avg +0.027%

Together, before fees+0.350%+ Points / potential airdropExtended: Active · edgeX: Active · farm board+$35 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: edgeX is 0.291% cheaper against Extended than usual: you would sell low and buy high, −$29 on $10k if it goes back to its 7-day average of +0.027%. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.5905	0.0176	pay 0.0022% / 1h	0m 10s	$106K	$532K	5x
Short	edgeX PONSUSDC	0.5890	0.0179	get 0.0090% / 4h	2h 00m	$21K	$294K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.263%Rate

Funding earned: $0.71
Price spread: −0.263% → +0.027%: −$29.07
Slippage, 4 orders: −$77.32
Fee Extended: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$119.67
Costs to cover: 0.913%
Break-even: 1187.2 days

Slippage from Extended: live order book, 23 min ago; edgeX: live order book, 23 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, 23 min ago	9.50 bp	24.7 bp −$25	163.3 bp −$1,633	doesn't fit	doesn't fit
Sell edgeX live order book, 23 min ago	11.86 bp	20.3 bp −$20	doesn't fit	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	0.5897	−0.134%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.245%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5904	−0.019%	$21K	$442K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5897	−0.137%	$17.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5897	−0.137%	$13.4M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5894	−0.193%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5900	−0.080%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5901	−0.066%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5865	−0.684%	$34K	$339K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5913	+0.132%	$2K	$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	0.5907	+0.024%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5901	−0.070%	$27K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5901	−0.064%	$63K	$505K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5899	−0.103%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5905	−0.002%	$368	—	3x	as long as short
Nado PONS-PERP	+0.0142%	1h	0.5907	+0.033%	$89K	$103K	5x	as long as short
Aster PONSUSDT	+0.0153%	4h	0.5899	−0.096%	$1.1M	$2.2M	20x	as long as short
BingX PONS-USDT	+0.0168%	4h	0.5895	−0.171%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0170%	4h	0.5903	−0.036%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0173%	4h	0.5901	−0.067%	$38.3M	$98.2M	20x	as long as short
Extended PONS-USDlong	+0.0176%	1h	0.5905	long leg	$106K	$532K	5x
edgeX PONSUSDCshort	+0.0179%	4h	0.5890	−0.263%	$21K	$294K	10x
Polymarket Perps PONS-USD	+0.0387%	1h	0.5904	−0.022%	$37K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0411%	4h	0.5904	−0.019%	$1.7M	$967K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5906	+0.020%	$47K	$103K	3x	as long as short
Lighter RH PONS	+0.0504%	1h	0.5904	−0.019%	$418K	$2.7M	3x	as long as short
Hyperliquid PONS	+0.0535%	1h	0.5904	−0.024%	$59.3M	$30.1M	3x	as long as short
Gate PONS_USDT	+0.0800%	4h	0.5894	−0.188%	$5.1M	$6.8M	20x	as long as short
Lighter PONS	+0.0984%	1h	0.5906	+0.007%	$1.7M	$900K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5888	−0.290%	$30K	$86K	3x	as long as short