Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0239%/8h= +26.2% APRpaid last 24h +0.070%

Price spread now: BloFin against Extended+0.572%94s7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$800.796% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.381%+$38 on $10k

Price spread, last 4 days (all we have)+0.015%+$1 · spread now +0.572%, 7d avg +0.078%

Together, before fees+0.395%+ Points / potential airdropExtended: Active · farm board+$40 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.494% dearer against Extended than usual: you sell high and buy low: +$49 more if the spread goes back to its 7-day average of +0.078%. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.5995	0.0528	pay 0.0066% / 1h	9m 29s	$248K	$671K	5x
Short	BloFin PONS-USDT	0.6029	0.0767	get 0.0384% / 4h	1h 09m	$1.7M	$968K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.572%Rate

Funding earned: $50.21
Price spread: +0.572% → +0.078%: $49.4
Slippage, 4 orders: −$62.6
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: $20.01
Costs to cover: 0.796%
Break-even: 4.2 days

Slippage from Extended: live order book, 53 min ago; BloFin: live order book, 3 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 Extended live order book, 53 min ago	10.07 bp	24.0 bp −$24	190.3 bp −$1,903	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	6.64 bp	14.3 bp −$14	26.9 bp −$269	90.0 bp −$9,002	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	0.5987	−0.132%	$237K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.421%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5993	−0.029%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6015	+0.337%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6022	+0.455%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6019	+0.405%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6016	+0.347%	$26K	$528K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6018	+0.387%	$64K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6004	+0.155%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0178%	4h	0.6018	+0.394%	$1.4M	$3.9M	—	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	+0.0216%	1h	0.6018	+0.390%	$375	—	3x	as long as short
Nado PONS-PERP	+0.0235%	1h	0.5996	+0.021%	$70K	$129K	5x	as long as short
Gate PONS_USDT	+0.0236%	4h	0.5991	−0.062%	$5.2M	$6.3M	20x	as long as short
Lighter RH PONS	+0.0312%	1h	0.5996	+0.021%	$417K	$2.5M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0316%	4h	0.5993	−0.029%	$13.6M	$54.9M	20x	as long as short
Lighter PONS	+0.0344%	1h	0.6003	+0.136%	$1.7M	$877K	3x	as long as short
Bitget PONSUSDT	+0.0422%	4h	0.5999	+0.066%	$4.7M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0450%	4h	0.5999	+0.080%	$1.1M	$2.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0470%	4h	0.6000	+0.081%	$1.7M	$3.7M	20x	as long as short
Bybit PONSUSDT	+0.0484%	4h	0.5994	−0.012%	$17.9M	$30.7M	20x	as long as short
BingX PONS-USDT	+0.0506%	4h	0.5996	+0.021%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0526%	4h	0.5996	+0.021%	$7.6M	$4.7M	20x	as long as short
Extended PONS-USDlong	+0.0528%	1h	0.5995	long leg	$248K	$671K	5x
Binance PONSUSDT	+0.0532%	4h	0.5998	+0.054%	$39.5M	$94.7M	20x	as long as short
edgeX PONSUSDC	+0.0536%	4h	0.6026	+0.522%	$18K	$292K	10x	as long as short
Hyperliquid PONS	+0.0755%	1h	0.5998	+0.052%	$61.1M	$27.8M	3x	as long as short
Pacifica PONS	+0.0755%	1h	0.5993	−0.032%	$47K	$69K	3x	as long as short
BloFin PONS-USDTshort	+0.0767%	4h	0.6029	+0.572%	$1.7M	$968K	20x
Polymarket Perps PONS-USD	+0.0848%	1h	0.5997	+0.035%	$68K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.6017	+0.378%	$31K	$98K	3x	as long as short