PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0306%/8h= −33.5% APRnext payment −$1.53 per $10,000 · paid last 24h −0.026%

Price spread now: Phemex against OKX−0.017%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1041.042% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.261%−$26 on $10k

Price spread, last 4 days (all we have)+0.093%+$9 · spread now −0.017%, 7d avg +0.034%

Together, before fees−0.169%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Phemex is 0.051% cheaper against OKX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PONS-USDT-SWAP	0.5911	0.0406	pay 0.0203% / 4h	1h 36m	$13.3M	$55.8M	20x
Short	Phemex PONSUSDT	0.5910	0.0100	get 0.0050% / 4h	1h 36m	$1.6M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against OKX. 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 OKXbpFee PhemexbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$64.23
Price spread: −0.017% → +0.034%: −$5.09
Slippage, 4 orders: −$82.18
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$173.5
Costs to cover: 1.042%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Phemex: live order book, 2 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 OKX live order book, 2 min ago	0.85 bp	11.6 bp −$12	32.8 bp −$328	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	2.54 bp	37.2 bp −$37	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 +0.0033% / S −0.0032%	1h	0.5901	−0.168%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.990%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5905	−0.105%	$415K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5910	−0.017%	$22K	$421K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5921	+0.176%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5915	+0.074%	$69K	$131K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5921	+0.173%	$29K	$317K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5916	+0.090%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5913	+0.034%	$25K	$586K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5913	+0.036%	$64K	$524K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDTshort	+0.0100%	4h	0.5910	−0.017%	$1.6M	$3.2M	20x
Aevo PONS-PERP	+0.0216%	1h	0.5914	+0.042%	$368	—	3x	as long as short
Hyperliquid PONS	+0.0228%	1h	0.5909	−0.042%	$60.0M	$29.5M	3x	as long as short
Gate PONS_USDT	+0.0366%	4h	0.5902	−0.152%	$5.2M	$6.3M	20x	as long as short
OKX PONS-USDT-SWAPlong	+0.0406%	4h	0.5911	long leg	$13.3M	$55.8M	20x
Polymarket Perps PONS-USD	+0.0447%	1h	0.5915	+0.059%	$94K	$1.9M	3x	as long as short
Aster PONSUSDT	+0.0459%	4h	0.5907	−0.076%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0520%	1h	0.5902	−0.156%	$101K	$811K	5x	as long as short
MEXC PONS_USDT	+0.0522%	4h	0.5904	−0.118%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0524%	4h	0.5908	−0.043%	$37.2M	$98.5M	20x	as long as short
edgeX PONSUSDC	+0.0555%	4h	0.5918	+0.111%	$20K	$291K	10x	as long as short
Pacifica PONS	+0.0556%	1h	0.5906	−0.091%	$45K	$68K	3x	as long as short
Variational Omni PONS	+0.0609%	4h	0.5918	+0.126%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0638%	4h	0.5906	−0.086%	$1.6M	$3.8M	20x	as long as short
Bitget PONSUSDT	+0.0672%	4h	0.5911	+0.008%	$4.7M	$12.2M	20x	as long as short
Lighter PONS	+0.0704%	1h	0.5909	−0.039%	$1.6M	$829K	3x	as long as short
BingX PONS-USDT	+0.0724%	4h	0.5907	−0.068%	—	$3.0M	—	as long as short
BloFin PONS-USDT	+0.0764%	4h	0.5918	+0.118%	$1.7M	$953K	20x	as long as short
Bybit PONSUSDT	+0.0764%	4h	0.5908	−0.051%	$17.5M	$31.4M	20x	as long as short
Phoenix PONS	+0.1472%	1h	0.5925	+0.237%	$45K	$127K	3x	as long as short