Ponds associated with peatlands cover large areas in boreal regions and are potentially important sources of greenhouse gases to the atmosphere. At this point, little is known about the magnitude of these fluxes, where they are generated, and how they are controlled. We analyzed CH₄ and CO₂ summer exchange in a pond and bog located in Ontario and identified sources, mechanisms, and controls on gas exchange. The pond was a hot spot of gas release, with the shore being particularly important.