Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.5% APRpaid last 24h +0.002%

Price spread now: edgeX against Extended−0.046%73s7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as 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−$850.853% of the position

Long on Extended Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 4 days (all we have)+0.161%+$16 · spread now −0.046%, 7d avg +0.029%

Together, before fees+0.080%+ Points / potential airdropExtended: Active · edgeX: Active · farm board+$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.075% cheaper against Extended than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.029%. The two prices were read 73 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	0.5920	0.0496	pay 0.0062% / 1h	4m 19s	$101K	$807K	5x
Short	edgeX PONSUSDC	0.5918	0.0500	get 0.0250% / 4h	1h 04m	$20K	$290K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.046%Rate

Funding earned: $0.93
Price spread: −0.046% → +0.029%: −$7.55
Slippage, 4 orders: −$71.29
Fee Extended: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$91.91
Costs to cover: 0.853%
Break-even: 697.0 days

Slippage from Extended: live order book, 39 min ago; edgeX: live order book, 39 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, 39 min ago	9.30 bp	23.3 bp −$23	209.9 bp −$2,099	doesn't fit	doesn't fit
Sell edgeX live order book, 39 min ago	10.98 bp	19.4 bp −$19	doesn't fit	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 +0.0032% / S −0.0030%	1h	0.5918	−0.042%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	+0.308%	$610	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5922	+0.028%	$410K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5931	+0.181%	$22K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5927	+0.105%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5930	+0.164%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5921	+0.009%	$29K	$314K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5931	+0.190%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5922	+0.029%	$26K	$581K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5937	+0.290%	$65K	$525K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.5917	−0.055%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0200%	1h	0.5923	+0.052%	$369	—	3x	as long as short
Hyperliquid PONS	+0.0296%	1h	0.5931	+0.183%	$60.2M	$29.5M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0412%	4h	0.5919	−0.021%	$13.4M	$55.3M	20x	as long as short
Aster PONSUSDT	+0.0455%	4h	0.5930	+0.167%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0488%	4h	0.5927	+0.114%	$7.7M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0492%	4h	0.5921	+0.013%	$37.3M	$98.0M	20x	as long as short
Extended PONS-USDlong	+0.0496%	1h	0.5920	long leg	$101K	$807K	5x
edgeX PONSUSDCshort	+0.0500%	4h	0.5918	−0.046%	$20K	$290K	10x
Variational Omni PONS	+0.0548%	4h	0.5964	+0.747%	$1.4M	$4.1M	—	as long as short
Pacifica PONS	+0.0556%	1h	0.5932	+0.200%	$45K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0594%	4h	0.5931	+0.175%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0653%	1h	0.5928	+0.131%	$85K	$1.9M	3x	as long as short
Bybit PONSUSDT	+0.0655%	4h	0.5917	−0.055%	$17.5M	$31.2M	20x	as long as short
BingX PONS-USDT	+0.0656%	4h	0.5922	+0.029%	—	$3.0M	—	as long as short
Bitget PONSUSDT	+0.0684%	4h	0.5925	+0.072%	$4.7M	$12.2M	20x	as long as short
Gate PONS_USDT	+0.0708%	4h	0.5932	+0.198%	$5.3M	$6.4M	20x	as long as short
BloFin PONS-USDT	+0.0730%	4h	0.5949	+0.485%	$1.7M	$946K	20x	as long as short
Lighter PONS	+0.0872%	1h	0.5923	+0.048%	$1.6M	$832K	3x	as long as short
Phoenix PONS	+0.1472%	1h	0.5918	−0.036%	$45K	$127K	3x	as long as short