PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0208%/8h= −22.8% APRnext payment −$1.04 per $10,000 · paid last 24h −0.159%

Price spread now: Phemex against BingX+0.163%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$163as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$1001.002% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.630%−$63 on $10k

Price spread, last 3 days (all we have)−0.035%−$3 · spread now +0.163%, 7d avg −0.026%

Together, before fees−0.665%−$67 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.190% dearer against BingX than usual: you sell high and buy low (spread +0.163% now, against its 7-day average of −0.026%): +$19 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PONS-USDT	0.6128	0.0308	pay 0.0154% / 4h	28m 36s	—	$3.0M	—
Short	Phemex PONSUSDT	0.6138	0.0100	get 0.0050% / 4h	28m 36s	$1.7M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.163%Rate

Funding earned: −$43.68
Price spread: +0.163% → −0.026%: $18.97
Slippage, 4 orders: −$78.19
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$124.91
Costs to cover: 1.002%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; Phemex: live order book, 5 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, 6 min ago	2.44 bp	13.0 bp −$13	19.5 bp −$195	262.5 bp −$26.2K	doesn't fit
Sell Phemex live order book, 5 min ago	4.89 bp	40.4 bp −$40	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.586%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6116	−0.196%	$242K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6131	+0.057%	$429K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6129	+0.016%	$20K	$438K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6124	−0.072%	$88K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6125	−0.049%	$18.4M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6128	0.000%	$14.0M	$58.1M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6124	−0.060%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6127	−0.016%	$34K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6128	−0.007%	$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	0.6125	−0.042%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6133	+0.083%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6134	+0.098%	$65K	$509K	20x	as long as short
Phemex PONSUSDTshort	+0.0100%	4h	0.6138	+0.163%	$1.7M	$3.3M	20x
KuCoin PONSUSDTM	+0.0114%	4h	0.6129	+0.011%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0146%	4h	0.6128	+0.005%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0160%	1h	0.6128	0.000%	$382	—	3x	as long as short
Aster PONSUSDT	+0.0163%	4h	0.6128	+0.008%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0302%	4h	0.6134	+0.098%	$8.1M	$4.9M	20x	as long as short
Lighter PONS	+0.0304%	1h	0.6132	+0.070%	$1.7M	$922K	3x	as long as short
Extended PONS-USD	+0.0304%	1h	0.6129	+0.014%	$253K	$682K	5x	as long as short
Binance PONSUSDT	+0.0306%	4h	0.6132	+0.065%	$40.2M	$98.7M	20x	as long as short
BingX PONS-USDTlong	+0.0308%	4h	0.6128	long leg	—	$3.0M	—
edgeX PONSUSDC	+0.0313%	4h	0.6129	+0.011%	$21K	$294K	10x	as long as short
BloFin PONS-USDT	+0.0544%	4h	0.6133	+0.082%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0668%	1h	0.6124	−0.070%	$42K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0897%	1h	0.6135	+0.121%	$62.3M	$30.4M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6131	+0.054%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6126	−0.034%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2332%	4h	0.6124	−0.065%	$5.4M	$6.3M	20x	as long as short