PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0177%/8h= −19.4% APRnext payment −$0.22 per $10,000 · paid last 24h −0.095%

Price spread now: Pacifica against Hyperliquid−0.095%54s7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as 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−$550.554% of the position

Long on Hyperliquid Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 4 days (all we have)+0.175%+$18 · spread now −0.095%, 7d avg −0.011%

Together, before fees+0.115%+ Points / potential airdropHyperliquid: Season 2 · Pacifica: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Pacifica is 0.084% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.011%). Swap the legs. The two prices were read 54 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	Hyperliquid PONS	0.5903	0.0628	pay 0.0078% / 1h	57m 51s	$59.3M	$30.1M	3x
Short	Pacifica PONS	0.5897	0.0451	get 0.0056% / 1h	57m 51s	$47K	$103K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Hyperliquid. 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 HyperliquidbpFee PacificabpOrdersPrice spread, now −0.095%Rate

Funding earned: −$37.16
Price spread: −0.095% → −0.011%: −$8.42
Slippage, 4 orders: −$38.42
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$101
Costs to cover: 0.554%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Pacifica: live order book, 24 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 Hyperliquid live order book, 6 min ago	0.09 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 24 min ago	6.26 bp	16.8 bp −$17	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	0.5891	−0.198%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5920	+0.285%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5897	−0.098%	$21K	$442K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5896	−0.115%	$17.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5898	−0.081%	$13.4M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5890	−0.215%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5900	−0.039%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5901	−0.026%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5908	+0.090%	$34K	$340K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5901	−0.034%	$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	0.5902	−0.013%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5894	−0.152%	$27K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5906	+0.058%	$63K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5895	−0.132%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5897	−0.107%	$367	—	3x	as long as short
Aster PONSUSDT	+0.0147%	4h	0.5892	−0.184%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0168%	1h	0.5894	−0.147%	$106K	$532K	5x	as long as short
BingX PONS-USDT	+0.0169%	4h	0.5894	−0.149%	—	$3.1M	—	as long as short
Binance PONSUSDT	+0.0169%	4h	0.5897	−0.105%	$38.3M	$98.1M	20x	as long as short
MEXC PONS_USDT	+0.0172%	4h	0.5897	−0.098%	$7.5M	$4.9M	20x	as long as short
Nado PONS-PERP	+0.0175%	1h	0.5900	−0.048%	$89K	$103K	5x	as long as short
edgeX PONSUSDC	+0.0175%	4h	0.5905	+0.039%	$21K	$294K	10x	as long as short
Lighter RH PONS	+0.0304%	1h	0.5897	−0.090%	$417K	$2.6M	3x	as long as short
BloFin PONS-USDT	+0.0413%	4h	0.5901	−0.030%	$1.7M	$966K	20x	as long as short
Pacifica PONSshort	+0.0451%	1h	0.5897	−0.095%	$47K	$103K	3x
Polymarket Perps PONS-USD	+0.0496%	1h	0.5898	−0.076%	$37K	$1.8M	3x	as long as short
Hyperliquid PONSlong	+0.0628%	1h	0.5903	long leg	$59.3M	$30.1M	3x
Gate PONS_USDT	+0.0820%	4h	0.5893	−0.166%	$5.2M	$6.4M	20x	as long as short
Lighter PONS	+0.1176%	1h	0.5901	−0.032%	$1.7M	$878K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5888	−0.251%	$30K	$86K	3x	as long as short