PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0240%/8h= −26.3% APRnext payment −$1.20 per $10,000 · paid last 24h −0.072%

Price spread now: Binance against BloFin−0.121%71s7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$650.654% of the position

Long on BloFin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.504%−$50 on $10k

Price spread, last 4 days (all we have)−0.078%−$8 · spread now −0.121%, 7d avg −0.033%

Together, before fees−0.581%−$58 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Binance is 0.088% cheaper against BloFin than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.033%). Swap the legs. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PONS-USDT	0.5949	0.0851	pay 0.0425% / 4h	3h 12m	$1.8M	$946K	20x
Short	Binance PONSUSDT	0.5942	0.0611	get 0.0305% / 4h	3h 12m	$38.9M	$94.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BloFin. 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 BloFinbpFee BinancebpOrdersPrice spread, now −0.121%Rate

Funding earned: −$50.4
Price spread: −0.121% → −0.033%: −$8.79
Slippage, 4 orders: −$43.44
Fee BloFin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$124.64
Costs to cover: 0.654%
Break-even: never at this rate

Slippage from BloFin: live order book, 11 min ago; Binance: live order book, 1 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 BloFin live order book, 11 min ago	7.53 bp	18.6 bp −$19	58.9 bp −$589	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	0.84 bp	15.2 bp −$15	41.4 bp −$414	193.2 bp −$19.3K	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	0.5930	−0.313%	$236K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.345%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5940	−0.153%	$419K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5936	−0.219%	$21K	$417K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5937	−0.202%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5956	+0.109%	$34K	$339K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5945	−0.076%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5939	−0.168%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5943	−0.101%	$26K	$537K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5951	+0.042%	$65K	$512K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.5945	−0.067%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5938	−0.178%	$370	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0358%	4h	0.5937	−0.202%	$13.5M	$54.3M	20x	as long as short
Variational Omni PONS	+0.0455%	4h	0.5941	−0.127%	$1.4M	$4.0M	—	as long as short
Lighter PONS	+0.0464%	1h	0.5940	−0.151%	$1.6M	$894K	3x	as long as short
Hyperliquid PONS	+0.0483%	1h	0.5947	−0.032%	$60.8M	$28.1M	3x	as long as short
Gate PONS_USDT	+0.0502%	4h	0.5939	−0.168%	$5.2M	$6.2M	20x	as long as short
Aster PONSUSDT	+0.0515%	4h	0.5940	−0.148%	$1.1M	$2.2M	20x	as long as short
Bitget PONSUSDT	+0.0536%	4h	0.5938	−0.183%	$4.6M	$11.6M	20x	as long as short
Extended PONS-USD	+0.0608%	1h	0.5936	−0.212%	$106K	$807K	5x	as long as short
MEXC PONS_USDT	+0.0610%	4h	0.5942	−0.118%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDTshort	+0.0611%	4h	0.5942	−0.121%	$38.9M	$94.1M	20x
edgeX PONSUSDC	+0.0635%	4h	0.5932	−0.278%	$18K	$294K	10x	as long as short
BingX PONS-USDT	+0.0716%	4h	0.5950	+0.017%	—	$3.0M	—	as long as short
KuCoin PONSUSDTM	+0.0728%	4h	0.5941	−0.134%	$1.6M	$3.8M	20x	as long as short
Bybit PONSUSDT	+0.0729%	4h	0.5936	−0.219%	$17.7M	$30.6M	20x	as long as short
Polymarket Perps PONS-USD	+0.0734%	1h	0.5935	−0.234%	$81K	$1.7M	3x	as long as short
BloFin PONS-USDTlong	+0.0851%	4h	0.5949	long leg	$1.8M	$946K	20x
Pacifica PONS	+0.1081%	1h	0.5940	−0.149%	$46K	$68K	3x	as long as short
Phoenix PONS	+0.1586%	1h	0.5990	+0.689%	$45K	$109K	3x	as long as short