Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h −0.003%

Price spread now: Bybit against Extended−0.056%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$800.799% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 4 days (all we have)+0.116%+$12 · spread now −0.056%, 7d avg 0.000%

Together, before fees−0.071%+ Points / potential airdropExtended: Active · farm board−$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.056% cheaper against Extended than usual: you would sell low and buy high (spread −0.056% now, against its 7-day average of 0.000%). If the spread goes back, that is −$6 on $10k: about 24 hours of funding at the current rate (+$6 a day). Mind the row above: over the last 7 days funding on this pair cost −0.188%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.6312	0.0552	pay 0.0069% / 1h	51m 33s	$182K	$849K	5x
Short	Bybit PONSUSDT	0.6308	0.0740	get 0.0370% / 4h	51m 33s	$18.9M	$31.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.056%Rate

Funding earned: $39.52
Price spread: −0.056% → 0.000%: −$5.55
Slippage, 4 orders: −$63.95
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$45.98
Costs to cover: 0.799%
Break-even: 15.1 days

Slippage from Extended: live order book, 55 min ago; Bybit: live order book, 5 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, 55 min ago	11.46 bp	25.3 bp −$25	197.8 bp −$1,978	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.79 bp	11.7 bp −$12	38.6 bp −$386	doesn't fit	doesn't fit

PONS on 30 exchanges

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 +0.0031% / S −0.0029%	1h	0.6318	+0.102%	$248K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−5.910%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6309	−0.040%	$21K	$396K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6323	+0.182%	$77K	$92K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6338	+0.419%	$32K	$286K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6329	+0.278%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6332	+0.324%	—	$830K	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6332	+0.324%	$27K	$594K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6327	+0.240%	$65K	$549K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6326	+0.229%	$1.7M	$3.2M	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0224%	1h	0.6329	+0.272%	$394	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0266%	4h	0.6308	−0.056%	$13.9M	$59.2M	20x	as long as short
Hyperliquid PONS	+0.0377%	1h	0.6311	−0.007%	$64.6M	$29.4M	3x	as long as short
Aster PONSUSDT	+0.0411%	4h	0.6308	−0.049%	$1.2M	$2.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0500%	4h	0.6313	+0.025%	$1.8M	$4.3M	20x	as long as short
Pacifica PONS	+0.0517%	1h	0.6313	+0.020%	$46K	$73K	3x	as long as short
Gate PONS_USDT	+0.0528%	4h	0.6308	−0.056%	$5.4M	$6.4M	20x	as long as short
Extended PONS-USDlong	+0.0552%	1h	0.6312	long leg	$182K	$849K	5x
Binance PONSUSDT	+0.0552%	4h	0.6314	+0.034%	$40.7M	$98.1M	20x	as long as short
MEXC PONS_USDT	+0.0556%	4h	0.6310	−0.024%	$7.7M	$4.5M	20x	as long as short
Polymarket Perps PONS-USD	+0.0558%	1h	0.6311	−0.007%	$87K	$2.0M	3x	as long as short
Variational Omni PONS	+0.0581%	4h	0.6329	+0.274%	$1.5M	$3.9M	—	as long as short
edgeX PONSUSDC	+0.0585%	4h	0.6327	+0.253%	$18K	$294K	10x	as long as short
Lighter RH PONS	+0.0656%	1h	0.6315	+0.063%	$461K	$2.6M	3x	as long as short
Bitget PONSUSDT	+0.0684%	4h	0.6310	−0.026%	$5.0M	$13.1M	20x	as long as short
BingX PONS-USDT	+0.0712%	4h	0.6310	−0.024%	—	$3.1M	—	as long as short
Bybit PONSUSDTshort	+0.0740%	4h	0.6308	−0.056%	$18.9M	$31.4M	20x
Lighter PONS	+0.0784%	1h	0.6317	+0.087%	$1.8M	$848K	3x	as long as short
BloFin PONS-USDT	+0.0805%	4h	0.6317	+0.087%	$1.8M	$1.1M	20x	as long as short
Phoenix PONS	+0.1439%	1h	0.6328	+0.255%	$48K	$153K	3x	as long as short