Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h −0.092%

Price spread now: Orderly against Extended+0.035%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.035% dearer against Extended than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.6112	0.0304	pay 0.0038% / 1h	23m 03s	$253K	$682K	5x
Short	Orderly PERP_PONS_USDC_mythos	0.6114	0.0100	get 0.0050% / 4h	23m 03s	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.035%Rate

Funding earned: −$42.84
Price spread: +0.035% → 0.000%: $3.54
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$50.3
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 55 min ago; Orderly: no order-book sample. Net counts fees only.

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, 55 min ago	11.94 bp	28.6 bp −$29	198.0 bp −$1,980	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.335%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6099	−0.218%	$241K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6109	−0.055%	$426K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6104	−0.135%	$20K	$436K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6107	−0.086%	$88K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6113	+0.013%	$18.4M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6115	+0.045%	$13.9M	$58.0M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6129	+0.279%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6132	+0.322%	$34K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythosshort	+0.0100%	4h	0.6114	+0.035%	$2K	$3K	10x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.6111	−0.012%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6112	−0.010%	$28K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6130	+0.296%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6114	+0.029%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0120%	4h	0.6109	−0.061%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0146%	4h	0.6116	+0.060%	$4.8M	$11.7M	20x	as long as short
Aster PONSUSDT	+0.0156%	4h	0.6113	+0.011%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0160%	1h	0.6112	−0.002%	$381	—	3x	as long as short
edgeX PONSUSDC	+0.0304%	4h	0.6119	+0.117%	$21K	$292K	10x	as long as short
Lighter PONS	+0.0304%	1h	0.6110	−0.028%	$1.7M	$923K	3x	as long as short
Extended PONS-USDlong	+0.0304%	1h	0.6112	long leg	$253K	$682K	5x
MEXC PONS_USDT	+0.0304%	4h	0.6114	+0.029%	$8.0M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0304%	4h	0.6114	+0.023%	$40.1M	$98.7M	20x	as long as short
BingX PONS-USDT	+0.0304%	4h	0.6117	+0.078%	—	$3.0M	—	as long as short
BloFin PONS-USDT	+0.0544%	4h	0.6111	−0.020%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0648%	1h	0.6109	−0.053%	$42K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0865%	1h	0.6119	+0.117%	$62.3M	$30.0M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6109	−0.057%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6121	+0.137%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2406%	4h	0.6107	−0.086%	$5.3M	$6.3M	20x	as long as short