PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0321%/8h= −35.1% APRnext payment −$1.60 per $10,000 · paid last 24h −0.171%

Price spread now: Phemex against BloFin−0.186%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$204as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1101.103% of the position

Long on BloFin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.938%−$94 on $10k

Price spread, last 3 days (all we have)+0.027%+$3 · spread now −0.186%, 7d avg −0.051%

Together, before fees−0.911%−$91 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Phemex is 0.135% cheaper against BloFin than usual: you would sell low and buy high (−$14 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	BloFin PONS-USDT	0.5912	0.0421	pay 0.0210% / 4h	2h 28m	$1.7M	$970K	20x
Short	Phemex PONSUSDT	0.5901	0.0100	get 0.0050% / 4h	2h 28m	$1.7M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.186%Rate

Funding earned: −$67.31
Price spread: −0.186% → −0.051%: −$13.5
Slippage, 4 orders: −$86.26
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$191.07
Costs to cover: 1.103%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 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 BloFin live order book, 4 min ago	6.78 bp	15.4 bp −$15	30.7 bp −$307	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	0.85 bp	37.0 bp −$37	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	0.5895	−0.281%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.129%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5907	−0.085%	$21K	$447K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5907	−0.085%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5903	−0.152%	$13.5M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5907	−0.081%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5906	−0.101%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5903	−0.148%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5903	−0.156%	$34K	$332K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5914	+0.032%	$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	0.5909	−0.052%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5907	−0.076%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5915	+0.049%	$64K	$504K	20x	as long as short
Phemex PONSUSDTshort	+0.0100%	4h	0.5901	−0.186%	$1.7M	$3.3M	20x
Nado PONS-PERP	+0.0108%	1h	0.5910	−0.035%	$89K	$103K	5x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5907	−0.086%	$368	—	3x	as long as short
MEXC PONS_USDT	+0.0180%	4h	0.5906	−0.101%	$7.5M	$5.2M	20x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5898	−0.237%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0184%	1h	0.5908	−0.062%	$105K	$533K	5x	as long as short
Binance PONSUSDT	+0.0185%	4h	0.5900	−0.195%	$38.3M	$98.4M	20x	as long as short
edgeX PONSUSDC	+0.0187%	4h	0.5907	−0.091%	$21K	$294K	10x	as long as short
Aster PONSUSDT	+0.0215%	4h	0.5904	−0.130%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0337%	1h	0.5908	−0.069%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDTlong	+0.0421%	4h	0.5912	long leg	$1.7M	$970K	20x
Pacifica PONS	+0.0474%	1h	0.5910	−0.034%	$47K	$103K	3x	as long as short
Gate PONS_USDT	+0.0498%	4h	0.5905	−0.118%	$5.2M	$6.8M	20x	as long as short
Hyperliquid PONS	+0.0526%	1h	0.5906	−0.110%	$59.0M	$30.0M	3x	as long as short
Lighter RH PONS	+0.0616%	1h	0.5911	−0.024%	$395K	$2.6M	3x	as long as short
Lighter PONS	+0.1128%	1h	0.5915	+0.049%	$1.7M	$882K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5899	−0.220%	$27K	$86K	3x	as long as short