PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1232%/8h= +134.9% APRnext payment +$1.54 per $10,000 · paid last 24h +0.298%

Price spread now: Phoenix against Extended+0.407%88s7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs+$64as 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−$820.815% of the position

Long on Extended Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+1.459%+$146 on $10k

Price spread, last 3 days (all we have)−0.346%−$35 · spread now +0.407%, 7d avg +0.023%

Together, before fees+1.113%+ Points / potential airdropExtended: Active · farm board+$111 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$37 a day on $10k at the current rate, and Phoenix is 0.384% dearer against Extended than usual: you sell high and buy low: +$38 more if the spread goes back to its 7-day average of +0.023%. The two prices were read 88 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	Extended PONS-USD	0.6012	0.0376	pay 0.0047% / 1h	53m 58s	$248K	$682K	5x
Short	Phoenix PONS	0.6036	0.1608	get 0.0201% / 1h	53m 58s	$31K	$107K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Extended. 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 ExtendedbpFee PhoenixbpOrdersPrice spread, now +0.407%Rate

Funding earned: $258.71
Price spread: +0.407% → +0.023%: $38.42
Slippage, 4 orders: −$69.55
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $215.59
Costs to cover: 0.815%
Break-even: 1.2 days

Slippage from Extended: live order book, 14 min ago; Phoenix: live order book, 54 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 Extended live order book, 14 min ago	11.01 bp	25.4 bp −$25	193.8 bp −$1,938	doesn't fit	doesn't fit
Sell Phoenix live order book, 54 min ago	3.14 bp	15.9 bp −$16	51.5 bp −$515	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 −0.0033%	1h	0.5976	−0.598%	$237K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.702%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5985	−0.444%	$421K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5981	−0.511%	$17K	$419K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5976	−0.601%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6016	+0.066%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5982	−0.499%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5987	−0.414%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5986	−0.429%	$26K	$532K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5987	−0.413%	$64K	$510K	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	0.6002	−0.162%	$1.7M	$3.2M	20x	as long as short
Lighter PONS	+0.0136%	1h	0.5984	−0.461%	$1.7M	$881K	3x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.5981	−0.508%	$373	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0228%	4h	0.6008	−0.062%	$13.8M	$55.5M	20x	as long as short
KuCoin PONSUSDTM	+0.0240%	4h	0.6017	+0.088%	$1.7M	$3.7M	20x	as long as short
Aster PONSUSDT	+0.0284%	4h	0.5982	−0.502%	$1.1M	$2.0M	20x	as long as short
Bitget PONSUSDT	+0.0288%	4h	0.6018	+0.100%	$4.7M	$11.4M	20x	as long as short
Binance PONSUSDT	+0.0374%	4h	0.6009	−0.051%	$39.4M	$96.0M	20x	as long as short
Extended PONS-USDlong	+0.0376%	1h	0.6012	long leg	$248K	$682K	5x
Nado PONS-PERP	+0.0377%	1h	0.5984	−0.461%	$103K	$115K	5x	as long as short
MEXC PONS_USDT	+0.0378%	4h	0.6002	−0.162%	$7.7M	$4.7M	20x	as long as short
Bybit PONSUSDT	+0.0384%	4h	0.6009	−0.045%	$18.1M	$30.8M	20x	as long as short
edgeX PONSUSDC	+0.0403%	4h	0.6016	+0.072%	$21K	$291K	10x	as long as short
BingX PONS-USDT	+0.0434%	4h	0.6012	+0.005%	—	$3.1M	—	as long as short
BloFin PONS-USDT	+0.0619%	4h	0.5985	−0.444%	$1.8M	$980K	20x	as long as short
Hyperliquid PONS	+0.0643%	1h	0.6013	+0.016%	$61.1M	$28.6M	3x	as long as short
Polymarket Perps PONS-USD	+0.0688%	1h	0.5982	−0.501%	$46K	$1.6M	3x	as long as short
Gate PONS_USDT	+0.0836%	4h	0.6006	−0.095%	$5.3M	$6.0M	20x	as long as short
Pacifica PONS	+0.0869%	1h	0.5987	−0.417%	$47K	$78K	3x	as long as short
Phoenix PONSshort	+0.1608%	1h	0.6036	+0.407%	$31K	$107K	3x