Funding you earn now, next payment 00:00 UTC+0.0147%/8h= +16.1% APRpaid last 24h +0.170%
Price spread now: Bybit against Injective+1.985%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Bybit is 1.985% dearer against Injective than usual: you sell high and buy low: +$199 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective PONS/USDC PERP | 0.5969 | −0.0047 | get 0.0006% / 1h | 59m 04s | $614 | $10K | 5.5x |
| Short | Bybit PONSUSDT | 0.6088 | 0.0100 | get 0.0050% / 4h | 59m 04s | $18.3M | $31.8M | 20x |
Injective PONS/USDC PERP
Bybit PONSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $30.9
- Price spread: +1.985% → 0.000%
- $198.51
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $218.39
- Costs to cover
- 0.110%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Bybit: live order book, 5 min ago. Net counts fees only.
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 Injective no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 5 min ago | 0.83 bp | 15.5 bp −$16 | 39.2 bp −$392 | doesn't fit | doesn't fit |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 PERPlong | −0.0047% | 1h | 0.5969 | long leg | $614 | $10K | 5.5x | |
| gTrade (Gains Network) PONS/USD | L +0.0033% / S −0.0036% | 1h | 0.6085 | +1.934% | $229K | — | 150x | as long as short |
| Popdex PONSUSDT | +0.0096% | 1h | 0.6107 | +2.303% | $20K | $447K | 20x | as long as short |
| Bybit PONSUSDTshort | +0.0100% | 4h | 0.6088 | +1.985% | $18.3M | $31.8M | 20x | |
| OKX PONS-USDT-SWAP | +0.0100% | 4h | 0.6085 | +1.935% | $13.8M | $57.8M | 20x | as long as short |
| KuCoin PONSUSDTM | +0.0100% | 4h | 0.6094 | +2.079% | $1.8M | $3.7M | 20x | as long as short |
| Variational Omni PONS | +0.0100% | 4h | 0.6093 | +2.072% | $1.4M | $4.3M | — | as long as short |
| ApeX Omni PONSUSDT | +0.0100% | 1h | 0.6050 | +1.357% | $35K | $356K | 5x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.0100% | 4h | 0.6104 | +2.250% | $3K | $3K | 10x | as long as short |
| SunX PONS-USDT | +0.0100% | 4h | 0.6112 | +2.389% | — | $1.4M | 10x | as long as short |
gTrade (Gains Network) PONS/USD
Popdex PONSUSDT
OKX PONS-USDT-SWAP
KuCoin PONSUSDTM
Variational Omni PONS
ApeX Omni PONSUSDT
Orderly PERP_PONS_USDC_mythos
SunX PONS-USDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX PONS-USD | +0.0100% | 1h | 0.6092 | +2.055% | $28K | $548K | 3x | as long as short |
| HTX PONS-USDT | +0.0100% | 4h | 0.6108 | +2.318% | $65K | $509K | 20x | as long as short |
| Phemex PONSUSDT | +0.0100% | 4h | 0.6091 | +2.035% | $1.7M | $3.3M | 20x | as long as short |
| Bitget PONSUSDT | +0.0102% | 4h | 0.6090 | +2.020% | $4.8M | $11.7M | 20x | as long as short |
| Nado PONS-PERP | +0.0120% | 1h | 0.6106 | +2.287% | $86K | $107K | 5x | as long as short |
| Aevo PONS-PERP | +0.0136% | 1h | 0.6097 | +2.143% | $380 | — | 3x | as long as short |
| Aster PONSUSDT | +0.0183% | 4h | 0.6106 | +2.282% | $1.1M | $2.2M | 20x | as long as short |
| edgeX PONSUSDC | +0.0195% | 4h | 0.6058 | +1.475% | $21K | $294K | 10x | as long as short |
| BingX PONS-USDT | +0.0202% | 4h | 0.6087 | +1.968% | — | $3.1M | — | as long as short |
| MEXC PONS_USDT | +0.0238% | 4h | 0.6092 | +2.052% | $8.1M | $4.8M | 20x | as long as short |
| Extended PONS-USD | +0.0248% | 1h | 0.6097 | +2.138% | $253K | $680K | 5x | as long as short |
| Binance PONSUSDT | +0.0251% | 4h | 0.6093 | +2.061% | $39.7M | $98.7M | 20x | as long as short |
| Hyperliquid PONS | +0.0350% | 1h | 0.6093 | +2.071% | $61.8M | $30.5M | 3x | as long as short |
| Lighter RH PONS | +0.0368% | 1h | 0.6098 | +2.153% | $430K | $2.6M | 3x | as long as short |
| Lighter PONS | +0.0392% | 1h | 0.6098 | +2.153% | $1.7M | $921K | 3x | as long as short |
| Polymarket Perps PONS-USD | +0.0448% | 1h | 0.6103 | +2.238% | $40K | $1.7M | 3x | as long as short |
| Pacifica PONS | +0.0451% | 1h | 0.6109 | +2.342% | $48K | $96K | 3x | as long as short |
| BloFin PONS-USDT | +0.0491% | 4h | 0.6097 | +2.136% | $1.7M | $1.0M | 20x | as long as short |
| Phoenix PONS | +0.1398% | 1h | 0.6074 | +1.744% | $31K | $95K | 3x | as long as short |
| Gate PONS_USDT | +0.1746% | 4h | 0.6093 | +2.069% | $5.3M | $6.2M | 20x | as long as short |
SoDEX PONS-USD
HTX PONS-USDT
Phemex PONSUSDT
Bitget PONSUSDT
Nado PONS-PERP
Aevo PONS-PERP
Aster PONSUSDT
edgeX PONSUSDC
BingX PONS-USDT
MEXC PONS_USDT
Extended PONS-USD
Binance PONSUSDT
Hyperliquid PONS
Lighter RH PONS
Lighter PONS
Polymarket Perps PONS-USD
Pacifica PONS
BloFin PONS-USDT
Phoenix PONS
Gate PONS_USDT