Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.003%

Price spread now: Extended against Bitget−0.008%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

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

costs, in and out, $10k−$900.898% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.181%+$18 on $10k

Price spread, last 4 days (all we have)−0.032%−$3 · spread now −0.008%, 7d avg −0.054%

Together, before fees+0.149%+ Points / potential airdropExtended: Active · farm board+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Extended is 0.046% dearer against Bitget than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PONSUSDT	0.6037	0.0502	pay 0.0251% / 4h	3h 54m	$4.6M	$11.6M	20x
Short	Extended PONS-USD	0.6036	0.0600	get 0.0075% / 1h	54m 44s	$108K	$813K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bitget. 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 BitgetbpFee ExtendedbpOrdersPrice spread, now −0.008%Rate

Funding earned: $20.58
Price spread: −0.008% → −0.054%: $4.56
Slippage, 4 orders: −$72.81
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$64.67
Costs to cover: 0.898%
Break-even: 29.0 days

Slippage from Bitget: live order book, 4 min ago; Extended: live order book, 63 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 Bitget live order book, 4 min ago	2.83 bp	19.0 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 63 min ago	13.20 bp	27.6 bp −$28	188.7 bp −$1,887	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 −0.0032%	1h	0.6032	−0.086%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.115%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6039	+0.036%	$21K	$435K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6033	−0.063%	$71K	$129K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6018	−0.305%	$35K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6038	+0.018%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6030	−0.111%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6046	+0.144%	$26K	$538K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6049	+0.195%	$66K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6049	+0.202%	$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	+0.0232%	1h	0.6036	−0.018%	$376	—	3x	as long as short
Variational Omni PONS	+0.0298%	4h	0.6012	−0.412%	$1.4M	$3.9M	—	as long as short
OKX PONS-USDT-SWAP	+0.0327%	4h	0.6034	−0.046%	$13.7M	$55.7M	20x	as long as short
Aster PONSUSDT	+0.0465%	4h	0.6040	+0.058%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDTlong	+0.0502%	4h	0.6037	long leg	$4.6M	$11.6M	20x
Bybit PONSUSDT	+0.0564%	4h	0.6036	−0.013%	$18.0M	$30.9M	20x	as long as short
Lighter RH PONS	+0.0568%	1h	0.6032	−0.075%	$414K	$2.5M	3x	as long as short
BingX PONS-USDT	+0.0572%	4h	0.6036	−0.013%	—	$3.0M	—	as long as short
edgeX PONSUSDC	+0.0597%	4h	0.6009	−0.463%	$18K	$292K	10x	as long as short
Lighter PONS	+0.0600%	1h	0.6034	−0.046%	$1.7M	$890K	3x	as long as short
Extended PONS-USDshort	+0.0600%	1h	0.6036	−0.008%	$108K	$813K	5x
MEXC PONS_USDT	+0.0600%	4h	0.6036	−0.013%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0614%	4h	0.6038	+0.014%	$39.5M	$95.4M	20x	as long as short
Gate PONS_USDT	+0.0640%	4h	0.6026	−0.179%	$5.2M	$6.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0698%	4h	0.6034	−0.051%	$1.6M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0762%	1h	0.6029	−0.128%	$61.6M	$28.3M	3x	as long as short
BloFin PONS-USDT	+0.0841%	4h	0.6044	+0.119%	$1.8M	$963K	20x	as long as short
Polymarket Perps PONS-USD	+0.0872%	1h	0.6041	+0.063%	$73K	$1.6M	3x	as long as short
Pacifica PONS	+0.1081%	1h	0.6035	−0.033%	$48K	$67K	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6005	−0.520%	$38K	$109K	3x	as long as short