PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0069%/8h= −7.6% APRnext payment −$0.35 per $10,000 · paid last 24h −0.098%

Price spread now: Phemex against Binance−0.498%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$140as in the Funding arb table

Net, price: spread back to 7d avg − costs−$146as in the Price arb table

costs, in and out, $10k−$970.968% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.434%−$43 on $10k

Price spread, last 3 days (all we have)+0.711%+$71 · spread now −0.498%, 7d avg −0.002%

Together, before fees+0.277%+$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.496% cheaper against Binance than usual: you would sell low and buy high (−$50 if the spread goes back to its 7-day average of −0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PONSUSDT	0.5895	0.0169	pay 0.0085% / 4h	2h 35m	$38.3M	$98.3M	20x
Short	Phemex PONSUSDT	0.5866	0.0100	get 0.0050% / 4h	2h 35m	$1.6M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Binance. 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 BinancebpFee PhemexbpOrdersPrice spread, now −0.498%Rate

Funding earned: −$14.49
Price spread: −0.498% → −0.002%: −$49.6
Slippage, 4 orders: −$74.84
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$160.93
Costs to cover: 0.968%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Phemex: live order book, 3 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 Binance live order book, 7 min ago	0.86 bp	9.6 bp −$10	23.6 bp −$236	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.57 bp	41.4 bp −$41	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 −0.0034%	1h	0.5856	−0.659%	$215K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.411%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5896	+0.011%	$21K	$447K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5894	−0.023%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5898	+0.045%	$13.4M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5891	−0.079%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5897	+0.037%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5819	−1.303%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5866	−0.496%	$34K	$330K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5873	−0.388%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5870	−0.437%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5866	−0.501%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5863	−0.552%	$63K	$504K	20x	as long as short
Phemex PONSUSDTshort	+0.0100%	4h	0.5866	−0.498%	$1.6M	$3.3M	20x
Aevo PONS-PERP	+0.0120%	1h	0.5867	−0.472%	$366	—	3x	as long as short
Nado PONS-PERP	+0.0148%	1h	0.5895	−0.006%	$89K	$103K	5x	as long as short
Gate PONS_USDT	+0.0148%	4h	0.5873	−0.379%	$5.1M	$6.8M	20x	as long as short
BingX PONS-USDT	+0.0154%	4h	0.5894	−0.023%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0160%	1h	0.5888	−0.127%	$105K	$533K	5x	as long as short
MEXC PONS_USDT	+0.0160%	4h	0.5885	−0.176%	$7.5M	$5.2M	20x	as long as short
edgeX PONSUSDC	+0.0163%	4h	0.5834	−1.049%	$20K	$292K	10x	as long as short
Binance PONSUSDTlong	+0.0169%	4h	0.5895	long leg	$38.3M	$98.3M	20x
Aster PONSUSDT	+0.0197%	4h	0.5885	−0.177%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0338%	1h	0.5897	+0.026%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0396%	4h	0.5860	−0.600%	$1.7M	$961K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5887	−0.135%	$47K	$103K	3x	as long as short
Lighter RH PONS	+0.0504%	1h	0.5880	−0.260%	$392K	$2.6M	3x	as long as short
Hyperliquid PONS	+0.0557%	1h	0.5884	−0.196%	$58.8M	$29.9M	3x	as long as short
Lighter PONS	+0.1056%	1h	0.5883	−0.211%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5836	−1.000%	$27K	$86K	3x	as long as short