PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0211%/8h= −23.1% APRnext payment −$1.05 per $10,000 · paid last 24h +0.047%

Price spread now: Bybit against edgeX−0.046%101s7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as 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−$710.707% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.123%−$12 on $10k

Price spread, last 3 days (all we have)−0.024%−$2 · spread now −0.046%, 7d avg −0.020%

Together, before fees−0.146%+ Points / potential airdropedgeX: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.026% cheaper against edgeX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.020%). Swap the legs. The two prices were read 101 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.123% in total (about -6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.05 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX PONSUSDC	0.6094	0.0311	pay 0.0155% / 4h	9m 53s	$21K	$292K	10x
Short	Bybit PONSUSDT	0.6091	0.0100	get 0.0050% / 4h	9m 53s	$18.3M	$31.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$44.29
Price spread: −0.046% → −0.020%: −$2.55
Slippage, 4 orders: −$50.7
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$117.54
Costs to cover: 0.707%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 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 edgeX live order book, 3 min ago	11.48 bp	19.8 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.82 bp	15.6 bp −$16	38.4 bp −$384	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	−2.040%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6093	−0.014%	$241K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6099	+0.094%	$426K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6110	+0.266%	$20K	$426K	20x	as long as short
Bybit PONSUSDTshort	+0.0100%	4h	0.6091	−0.046%	$18.3M	$31.4M	20x
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6091	−0.046%	$13.9M	$57.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6091	−0.052%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6087	−0.113%	$32K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6107	+0.218%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6112	+0.294%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USD	+0.0100%	1h	0.6097	+0.053%	$28K	$544K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6126	+0.532%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6093	−0.013%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0130%	4h	0.6098	+0.064%	$1.7M	$3.7M	20x	as long as short
Aster PONSUSDT	+0.0142%	4h	0.6095	+0.023%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6098	+0.076%	$380	—	3x	as long as short
Bitget PONSUSDT	+0.0164%	4h	0.6096	+0.033%	$4.7M	$11.7M	20x	as long as short
Nado PONS-PERP	+0.0184%	1h	0.6109	+0.243%	$105K	$116K	5x	as long as short
Extended PONS-USD	+0.0296%	1h	0.6095	+0.017%	$252K	$682K	5x	as long as short
MEXC PONS_USDT	+0.0298%	4h	0.6095	+0.020%	$8.0M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0299%	4h	0.6094	+0.003%	$39.9M	$98.4M	20x	as long as short
BingX PONS-USDT	+0.0306%	4h	0.6094	+0.003%	—	$3.1M	—	as long as short
edgeX PONSUSDClong	+0.0311%	4h	0.6094	long leg	$21K	$292K	10x
Lighter PONS	+0.0352%	1h	0.6101	+0.120%	$1.7M	$932K	3x	as long as short
BloFin PONS-USDT	+0.0539%	4h	0.6092	−0.029%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0648%	1h	0.6107	+0.222%	$42K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0846%	1h	0.6098	+0.074%	$62.1M	$30.1M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6098	+0.069%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6100	+0.102%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2364%	4h	0.6093	−0.013%	$5.3M	$6.3M	20x	as long as short