PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0260%/8h= +28.5% APRnext payment +$1.30 per $10,000 · paid last 24h −0.055%

Price spread now: Bybit against BloFin0.000%82s7-day average −0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as 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−$500.498% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.605%−$60 on $10k

Price spread, last 4 days (all we have)−0.287%−$29 · spread now 0.000%, 7d avg −0.060%

Together, before fees−0.892%−$89 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Bybit is 0.060% dearer against BloFin than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.060%. Mind the row above: over the last 7 days funding on this pair cost −0.605%, so the current rate has only just turned in your favour. The two prices were read 82 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	0.6031	0.0863	pay 0.0432% / 4h	3h 31m	$1.7M	$966K	20x
Short	Bybit PONSUSDT	0.6031	0.1123	get 0.0562% / 4h	3h 31m	$18.1M	$30.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $54.62
Price spread: 0.000% → −0.060%: $6.05
Slippage, 4 orders: −$26.8
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $10.87
Costs to cover: 0.498%
Break-even: 5.6 days

Slippage from BloFin: live order book, 6 min ago; Bybit: live order book, 2 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, 6 min ago	0.83 bp	11.7 bp −$12	40.2 bp −$402	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.65 bp	8.8 bp −$9	29.6 bp −$296	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	0.6018	−0.211%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.020%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6031	0.000%	$21K	$416K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6030	−0.017%	$71K	$129K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6023	−0.134%	$35K	$342K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6036	+0.088%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6025	−0.093%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6027	−0.075%	$26K	$531K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6037	+0.104%	$65K	$513K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6029	−0.033%	$1.7M	$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 RH PONS	+0.0144%	1h	0.6026	−0.083%	$412K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6031	+0.008%	$376	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0347%	4h	0.6030	−0.017%	$13.7M	$55.2M	20x	as long as short
Variational Omni PONS	+0.0398%	4h	0.6017	−0.225%	$1.5M	$3.9M	—	as long as short
Hyperliquid PONS	+0.0487%	1h	0.6027	−0.066%	$61.6M	$28.0M	3x	as long as short
Lighter PONS	+0.0512%	1h	0.6029	−0.035%	$1.7M	$892K	3x	as long as short
Aster PONSUSDT	+0.0518%	4h	0.6030	−0.014%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0522%	4h	0.6031	−0.003%	$4.6M	$11.5M	20x	as long as short
MEXC PONS_USDT	+0.0622%	4h	0.6029	−0.033%	$7.7M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0623%	4h	0.6032	+0.015%	$39.5M	$94.3M	20x	as long as short
Extended PONS-USD	+0.0624%	1h	0.6026	−0.089%	$108K	$808K	5x	as long as short
edgeX PONSUSDC	+0.0627%	4h	0.6032	+0.013%	$18K	$293K	10x	as long as short
Gate PONS_USDT	+0.0646%	4h	0.6020	−0.182%	$5.3M	$6.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0689%	1h	0.6028	−0.048%	$72K	$1.6M	3x	as long as short
KuCoin PONSUSDTM	+0.0740%	4h	0.6029	−0.027%	$1.6M	$3.8M	20x	as long as short
BingX PONS-USDT	+0.0808%	4h	0.6032	+0.017%	—	$2.9M	—	as long as short
BloFin PONS-USDTlong	+0.0863%	4h	0.6031	long leg	$1.7M	$966K	20x
Pacifica PONS	+0.1081%	1h	0.6028	−0.058%	$47K	$67K	3x	as long as short
Bybit PONSUSDTshort	+0.1123%	4h	0.6031	0.000%	$18.1M	$30.6M	20x
Phoenix PONS	+0.1586%	1h	0.6028	−0.041%	$46K	$109K	3x	as long as short