Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.078%

Price spread now: Extended against BloFin+0.020%7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$125as in the Funding arb table

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

costs, in and out, $10k−$870.874% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.376%−$38 on $10k

Price spread, last 3 days (all we have)−0.311%−$31 · spread now +0.020%, 7d avg −0.076%

Together, before fees−0.687%+ Points / potential airdropExtended: Active · farm board−$69 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.096% dearer against BloFin than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.076%): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PONS-USDT	0.6111	0.0544	pay 0.0272% / 4h	22m 58s	$1.8M	$1.0M	20x
Short	Extended PONS-USD	0.6112	0.0304	get 0.0038% / 1h	22m 58s	$253K	$682K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$50.48
Price spread: +0.020% → −0.076%: $9.63
Slippage, 4 orders: −$70.36
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$128.21
Costs to cover: 0.874%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Extended: live order book, 55 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 BloFin live order book, 5 min ago	0.81 bp	11.1 bp −$11	26.0 bp −$260	doesn't fit	doesn't fit
Sell Extended live order book, 55 min ago	11.94 bp	26.3 bp −$26	183.1 bp −$1,831	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.315%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6099	−0.198%	$241K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6109	−0.034%	$426K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6104	−0.115%	$20K	$436K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6107	−0.065%	$88K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6112	+0.016%	$18.4M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6115	+0.065%	$13.9M	$58.0M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6129	+0.299%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6132	+0.342%	$34K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6114	+0.056%	$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	0.6111	+0.008%	—	$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	+0.316%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6114	+0.049%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0120%	4h	0.6113	+0.029%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0146%	4h	0.6116	+0.080%	$4.8M	$11.7M	20x	as long as short
Aster PONSUSDT	+0.0156%	4h	0.6111	−0.006%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0160%	1h	0.6112	+0.018%	$381	—	3x	as long as short
edgeX PONSUSDC	+0.0304%	4h	0.6119	+0.137%	$21K	$292K	10x	as long as short
Lighter PONS	+0.0304%	1h	0.6110	−0.008%	$1.7M	$923K	3x	as long as short
Extended PONS-USDshort	+0.0304%	1h	0.6112	+0.020%	$253K	$682K	5x
MEXC PONS_USDT	+0.0304%	4h	0.6117	+0.098%	$8.0M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0304%	4h	0.6115	+0.065%	$40.1M	$98.7M	20x	as long as short
BingX PONS-USDT	+0.0304%	4h	0.6116	+0.082%	—	$3.0M	—	as long as short
BloFin PONS-USDTlong	+0.0544%	4h	0.6111	long leg	$1.8M	$1.0M	20x
Polymarket Perps PONS-USD	+0.0648%	1h	0.6109	−0.033%	$42K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0865%	1h	0.6119	+0.137%	$62.3M	$30.0M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6109	−0.037%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6121	+0.157%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2406%	4h	0.6109	−0.033%	$5.3M	$6.3M	20x	as long as short