Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0182%/8h= +20.0% APRpaid last 24h +0.059%

Price spread now: Extended against OKX−0.088%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$760.759% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.303%+$30 on $10k

Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.088%, 7d avg +0.004%

Together, before fees+0.411%+ Points / potential airdropExtended: Active · farm board+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.092% cheaper against OKX than usual: you would sell low and buy high (spread −0.088% now, against its 7-day average of +0.004%). If the spread goes back, that is −$9 on $10k: about 40 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PONS-USDT-SWAP	0.6116	0.0170	pay 0.0085% / 4h	3h 29m	$13.9M	$57.2M	20x
Short	Extended PONS-USD	0.6111	0.0352	get 0.0044% / 1h	29m 20s	$252K	$679K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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 OKXbpFee ExtendedbpOrdersPrice spread, now −0.088%Rate

Funding earned: $38.29
Price spread: −0.088% → +0.004%: −$9.17
Slippage, 4 orders: −$60.88
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$46.76
Costs to cover: 0.759%
Break-even: 15.5 days

Slippage from OKX: live order book, 4 min ago; Extended: live order book, 44 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 OKX live order book, 4 min ago	0.82 bp	12.1 bp −$12	22.9 bp −$229	doesn't fit	doesn't fit
Sell Extended live order book, 44 min ago	10.10 bp	23.7 bp −$24	216.2 bp −$2,162	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 +0.0033% / S −0.0033%	1h	0.6098	−0.298%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.395%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6108	−0.132%	$432K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6108	−0.131%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6105	−0.187%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6102	−0.229%	$33K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6115	−0.023%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6104	−0.199%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6110	−0.101%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6122	+0.096%	$65K	$510K	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	0.6106	−0.164%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6112	−0.065%	$381	—	3x	as long as short
OKX PONS-USDT-SWAPlong	+0.0170%	4h	0.6116	long leg	$13.9M	$57.2M	20x
KuCoin PONSUSDTM	+0.0182%	4h	0.6109	−0.123%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0238%	4h	0.6110	−0.096%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0257%	4h	0.6106	−0.159%	$1.1M	$2.1M	20x	as long as short
edgeX PONSUSDC	+0.0344%	4h	0.6106	−0.164%	$21K	$294K	10x	as long as short
MEXC PONS_USDT	+0.0348%	4h	0.6110	−0.098%	$8.0M	$4.8M	20x	as long as short
Extended PONS-USDshort	+0.0352%	1h	0.6111	−0.088%	$252K	$679K	5x
Binance PONSUSDT	+0.0353%	4h	0.6111	−0.075%	$40.1M	$96.7M	20x	as long as short
Lighter PONS	+0.0472%	1h	0.6111	−0.083%	$1.7M	$926K	3x	as long as short
BloFin PONS-USDT	+0.0593%	4h	0.6107	−0.147%	$1.8M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0611%	1h	0.6108	−0.131%	$105K	$115K	5x	as long as short
Pacifica PONS	+0.0665%	1h	0.6106	−0.165%	$48K	$78K	3x	as long as short
Bybit PONSUSDT	+0.0681%	4h	0.6112	−0.065%	$18.4M	$30.9M	20x	as long as short
BingX PONS-USDT	+0.0682%	4h	0.6111	−0.082%	—	$3.1M	—	as long as short
Polymarket Perps PONS-USD	+0.0764%	1h	0.6109	−0.123%	$44K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0898%	1h	0.6109	−0.123%	$62.1M	$29.2M	3x	as long as short
Gate PONS_USDT	+0.0906%	4h	0.6103	−0.213%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6110	−0.101%	$32K	$113K	3x	as long as short