Yes, you can use fusion substitutes with Power Bond. However, the most important thing to note is what fusion can you use a fusion substitute for. If you intend to bring out the likes of Cyber Twin Dragon or Cyber End Dragon, look closely at their text: "A Fusion Summon of this card can only be conducted with the above Fusion Material Monsters". Simply put, you can't use a fusion substitute for them.
So yes you can use a fusion substitute for Power Bond, just be sure that the fusion monster you're trying to summon allows fusion substitutes.