Abstract: The model and possibility of real-time precise point positioning(PPP) are studied based on PANDA.The experimental results show that based on Ultra-broadcast ephemeris provided by IGS Center,with the data of 43 IGS stations around world,the accuracy of real-time global PPP can be better than 10-20 cm by PANDA.Meantime with 6-7 IGS stations in China,the accuracy of real-time PPP can reach 10-20 cm around China by PANDA.