PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0201%/8h= −22.0% APRnext payment −$0.25 per $10,000 · paid last 24h −0.167%

Price spread now: Popdex against Hyperliquid+0.124%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$217as in the Price arb table

costs, in and out, $10k−$2292.290% of the position

Long on Hyperliquid Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.387%−$39 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now +0.124%, 7d avg +0.001%

Together, before fees−0.467%+ Points / potential airdropHyperliquid: Season 2 · farm board−$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.123% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.124% now, against its 7-day average of +0.001%): +$12 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PONS	0.5924	0.0297	pay 0.0037% / 1h	4m 01s	$60.2M	$29.5M	3x
Short	Popdex PONSUSDT	0.5931	0.0096	get 0.0012% / 1h	4m 01s	$22K	$420K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.124%Rate

Funding earned: −$42.21
Price spread: +0.124% → +0.001%: $12.33
Slippage, 4 orders: −$213.58
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$258.86
Costs to cover: 2.290%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Popdex: live order book, 40 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, 10 min ago	0.93 bp	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 40 min ago	4.72 bp	126.1 bp −$126	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 −0.0030%	1h	0.5918	−0.099%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	+0.251%	$610	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5922	−0.030%	$410K	$2.6M	3x	as long as short
Popdex PONSUSDTshort	+0.0096%	1h	0.5931	+0.124%	$22K	$420K	20x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5927	+0.048%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5930	+0.107%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5921	−0.048%	$29K	$314K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5931	+0.133%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5922	−0.028%	$26K	$581K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5937	+0.232%	$65K	$525K	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	0.5917	−0.112%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0200%	1h	0.5923	−0.006%	$369	—	3x	as long as short
Hyperliquid PONSlong	+0.0297%	1h	0.5924	long leg	$60.2M	$29.5M	3x
OKX PONS-USDT-SWAP	+0.0412%	4h	0.5921	−0.045%	$13.4M	$55.3M	20x	as long as short
Aster PONSUSDT	+0.0455%	4h	0.5928	+0.070%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0488%	4h	0.5921	−0.045%	$7.6M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0492%	4h	0.5921	−0.045%	$37.3M	$98.0M	20x	as long as short
Extended PONS-USD	+0.0496%	1h	0.5920	−0.057%	$101K	$807K	5x	as long as short
edgeX PONSUSDC	+0.0500%	4h	0.5918	−0.103%	$20K	$290K	10x	as long as short
Variational Omni PONS	+0.0548%	4h	0.5964	+0.689%	$1.4M	$4.1M	—	as long as short
Pacifica PONS	+0.0556%	1h	0.5932	+0.142%	$45K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0594%	4h	0.5922	−0.033%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0653%	1h	0.5928	+0.073%	$85K	$1.9M	3x	as long as short
Bybit PONSUSDT	+0.0655%	4h	0.5920	−0.062%	$17.5M	$31.2M	20x	as long as short
BingX PONS-USDT	+0.0656%	4h	0.5920	−0.062%	—	$3.0M	—	as long as short
Bitget PONSUSDT	+0.0684%	4h	0.5922	−0.026%	$4.7M	$12.2M	20x	as long as short
Gate PONS_USDT	+0.0708%	4h	0.5929	+0.090%	$5.3M	$6.4M	20x	as long as short
BloFin PONS-USDT	+0.0730%	4h	0.5949	+0.428%	$1.7M	$946K	20x	as long as short
Lighter PONS	+0.0872%	1h	0.5923	−0.009%	$1.6M	$832K	3x	as long as short
Phoenix PONS	+0.1472%	1h	0.5918	−0.094%	$45K	$127K	3x	as long as short