Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0224%/8h= −24.5% APRpaid last 24h −0.072%

Price spread now: OKX against Extended+0.036%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$780.784% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.304%−$30 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now +0.036%, 7d avg −0.004%

Together, before fees−0.291%+ Points / potential airdropExtended: Active · farm board−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.041% dearer against Extended than usual: you sell high and buy low (spread +0.036% now, against its 7-day average of −0.004%): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.6178	0.0632	pay 0.0079% / 1h	32m 16s	$104K	$828K	5x
Short	OKX PONS-USDT-SWAP	0.6180	0.0408	get 0.0204% / 4h	3h 32m	$14.2M	$60.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$46.98
Price spread: +0.036% → −0.004%: $4.06
Slippage, 4 orders: −$63.45
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$121.37
Costs to cover: 0.784%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; OKX: live order book, 1 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, 1 min ago	10.52 bp	24.8 bp −$25	214.2 bp −$2,142	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.81 bp	13.5 bp −$13	36.5 bp −$365	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	0.6168	−0.155%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−3.873%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6180	+0.036%	$23K	$437K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6171	−0.107%	$72K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6239	+0.987%	$31K	$291K	5x	as long as short
Polymarket Perps PONS-USD	+0.0100%	1h	0.6169	−0.142%	$72K	$2.2M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6179	+0.025%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6182	+0.066%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6180	+0.030%	$26K	$622K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6195	+0.284%	$66K	$527K	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	0.6178	+0.004%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6175	−0.039%	$385	—	3x	as long as short
Hyperliquid PONS	+0.0306%	1h	0.6179	+0.020%	$63.3M	$30.7M	3x	as long as short
Lighter RH PONS	+0.0376%	1h	0.6182	+0.072%	$418K	$2.7M	3x	as long as short
OKX PONS-USDT-SWAPshort	+0.0408%	4h	0.6180	+0.036%	$14.2M	$60.6M	20x
Aster PONSUSDT	+0.0428%	4h	0.6176	−0.032%	$1.1M	$2.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0474%	4h	0.6179	+0.025%	$1.6M	$4.1M	20x	as long as short
Lighter PONS	+0.0544%	1h	0.6183	+0.090%	$1.7M	$868K	3x	as long as short
Variational Omni PONS	+0.0577%	4h	0.6231	+0.870%	$1.6M	$4.4M	—	as long as short
Extended PONS-USDlong	+0.0632%	1h	0.6178	long leg	$104K	$828K	5x
Binance PONSUSDT	+0.0634%	4h	0.6179	+0.017%	$40.5M	$104.3M	20x	as long as short
MEXC PONS_USDT	+0.0638%	4h	0.6182	+0.069%	$7.9M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0651%	4h	0.6214	+0.579%	$20K	$292K	10x	as long as short
Bitget PONSUSDT	+0.0718%	4h	0.6185	+0.121%	$5.0M	$13.2M	20x	as long as short
Gate PONS_USDT	+0.0728%	4h	0.6169	−0.142%	$5.4M	$6.4M	20x	as long as short
Pacifica PONS	+0.0853%	1h	0.6178	+0.007%	$46K	$77K	3x	as long as short
BloFin PONS-USDT	+0.0879%	4h	0.6191	+0.214%	$1.8M	$1.1M	20x	as long as short
Bybit PONSUSDT	+0.1034%	4h	0.6179	+0.020%	$18.6M	$33.1M	20x	as long as short
BingX PONS-USDT	+0.1064%	4h	0.6174	−0.061%	—	$3.2M	—	as long as short
Phoenix PONS	+0.1714%	1h	0.6208	+0.496%	$47K	$159K	3x	as long as short