Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h −0.023%

Price spread now: Extended against Bybit+0.037%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$840.844% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.222%+$22 on $10k

Price spread, last 4 days (all we have)−0.014%−$1 · spread now +0.037%, 7d avg +0.002%

Together, before fees+0.209%+ Points / potential airdropExtended: Active · farm board+$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Extended is 0.034% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PONSUSDT	0.6056	0.0296	pay 0.0148% / 4h	2h 19m	$18.2M	$30.5M	20x
Short	Extended PONS-USD	0.6058	0.0424	get 0.0053% / 1h	19m 47s	$250K	$672K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now +0.037%Rate

Funding earned: $26.83
Price spread: +0.037% → +0.002%: $3.43
Slippage, 4 orders: −$68.41
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$54.15
Costs to cover: 0.844%
Break-even: 21.1 days

Slippage from Bybit: live order book, 4 min ago; Extended: live order book, 48 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 Bybit live order book, 4 min ago	2.48 bp	16.6 bp −$17	36.1 bp −$361	doesn't fit	doesn't fit
Sell Extended live order book, 48 min ago	11.01 bp	24.6 bp −$25	178.2 bp −$1,782	doesn't fit	doesn't fit

PONS on 29 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	0.6045	−0.175%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.428%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6059	+0.050%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6066	+0.171%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6063	+0.119%	$33K	$354K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6059	+0.046%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6071	+0.256%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6053	−0.050%	$26K	$519K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6086	+0.494%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6053	−0.050%	$1.7M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0184%	1h	0.6054	−0.041%	$377	—	3x	as long as short
Lighter RH PONS	+0.0192%	1h	0.6057	+0.023%	$427K	$2.5M	3x	as long as short
Nado PONS-PERP	+0.0214%	1h	0.6058	+0.025%	$71K	$131K	5x	as long as short
KuCoin PONSUSDTM	+0.0230%	4h	0.6060	+0.068%	$1.7M	$3.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0239%	4h	0.6058	+0.033%	$13.9M	$55.2M	20x	as long as short
Lighter PONS	+0.0248%	1h	0.6059	+0.048%	$1.7M	$885K	3x	as long as short
Bybit PONSUSDTlong	+0.0296%	4h	0.6056	long leg	$18.2M	$30.5M	20x
Bitget PONSUSDT	+0.0320%	4h	0.6059	+0.054%	$4.7M	$11.3M	20x	as long as short
BingX PONS-USDT	+0.0398%	4h	0.6061	+0.083%	—	$3.0M	—	as long as short
Aster PONSUSDT	+0.0402%	4h	0.6061	+0.077%	$1.1M	$2.0M	20x	as long as short
MEXC PONS_USDT	+0.0422%	4h	0.6060	+0.066%	$7.8M	$4.8M	20x	as long as short
Extended PONS-USDshort	+0.0424%	1h	0.6058	+0.037%	$250K	$672K	5x
Binance PONSUSDT	+0.0426%	4h	0.6057	+0.024%	$39.7M	$94.7M	20x	as long as short
edgeX PONSUSDC	+0.0428%	4h	0.6064	+0.129%	$21K	$292K	10x	as long as short
Gate PONS_USDT	+0.0592%	4h	0.6054	−0.033%	$5.3M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0683%	1h	0.6058	+0.033%	$61.7M	$28.0M	3x	as long as short
Polymarket Perps PONS-USD	+0.0743%	1h	0.6058	+0.026%	$45K	$1.5M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6062	+0.105%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6073	+0.281%	$31K	$107K	3x	as long as short