PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0028%/8h= −3.0% APRnext payment −$0.14 per $10,000 · paid last 24h −0.021%

Price spread now: Bybit against BingX−0.084%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$600.600% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.296%−$30 on $10k

Price spread, last 4 days (all we have)+0.133%+$13 · spread now −0.084%, 7d avg −0.051%

Together, before fees−0.163%−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.033% cheaper against BingX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.051%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PONS-USDT	0.5937	0.0493	pay 0.0247% / 4h	54m 49s	—	$3.0M	—
Short	Bybit PONSUSDT	0.5932	0.0466	get 0.0233% / 4h	54m 49s	$17.7M	$30.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. 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 BingXbpFee BybitbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$5.8
Price spread: −0.084% → −0.051%: −$3.31
Slippage, 4 orders: −$38.96
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$69.07
Costs to cover: 0.600%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Bybit: live order book, 4 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 BingX live order book, 10 min ago	3.36 bp	12.0 bp −$12	25.1 bp −$251	450.9 bp −$45.1K	doesn't fit
Sell Bybit live order book, 4 min ago	2.53 bp	19.0 bp −$19	38.9 bp −$389	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 +0.0033% / S −0.0032%	1h	0.5926	−0.189%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.547%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5935	−0.034%	$21K	$434K	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5936	−0.017%	$5.2M	$6.2M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5932	−0.081%	$34K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5941	+0.067%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5938	+0.020%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5935	−0.035%	$26K	$524K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5948	+0.194%	$63K	$511K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5935	−0.034%	$1.6M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PONS	+0.0128%	1h	0.5936	−0.019%	$1.6M	$877K	3x	as long as short
Variational Omni PONS	+0.0189%	4h	0.5947	+0.169%	$1.4M	$3.9M	—	as long as short
Aevo PONS-PERP	+0.0208%	1h	0.5937	0.000%	$370	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0335%	4h	0.5930	−0.118%	$13.5M	$54.2M	20x	as long as short
Aster PONSUSDT	+0.0401%	4h	0.5932	−0.092%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0440%	4h	0.5939	+0.039%	$4.6M	$11.5M	20x	as long as short
Nado PONS-PERP	+0.0448%	1h	0.5932	−0.084%	$69K	$129K	5x	as long as short
Bybit PONSUSDTshort	+0.0466%	4h	0.5932	−0.084%	$17.7M	$30.7M	20x
BingX PONS-USDTlong	+0.0493%	4h	0.5937	long leg	—	$3.0M	—
Extended PONS-USD	+0.0528%	1h	0.5932	−0.077%	$106K	$808K	5x	as long as short
Binance PONSUSDT	+0.0530%	4h	0.5937	0.000%	$39.0M	$94.9M	20x	as long as short
MEXC PONS_USDT	+0.0530%	4h	0.5936	−0.017%	$7.5M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0530%	4h	0.5934	−0.054%	$18K	$292K	10x	as long as short
KuCoin PONSUSDTM	+0.0534%	4h	0.5938	+0.022%	$1.6M	$3.7M	20x	as long as short
Lighter RH PONS	+0.0568%	1h	0.5936	−0.022%	$402K	$2.4M	3x	as long as short
BloFin PONS-USDT	+0.0771%	4h	0.5933	−0.067%	$1.7M	$954K	20x	as long as short
Hyperliquid PONS	+0.0815%	1h	0.5936	−0.017%	$60.5M	$27.7M	3x	as long as short
Pacifica PONS	+0.0859%	1h	0.5935	−0.032%	$47K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0926%	1h	0.5931	−0.101%	$67K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.5918	−0.315%	$31K	$104K	3x	as long as short