PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0264%/8h= +28.9% APRnext payment +$1.32 per $10,000 · paid last 24h +0.084%

Price spread now: Binance against Phemex+0.181%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1161.162% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.437%+$44 on $10k

Price spread, last 3 days (all we have)−0.210%−$21 · spread now +0.181%, 7d avg +0.002%

Together, before fees+0.227%+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Binance is 0.178% dearer against Phemex than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.6091	0.0100	pay 0.0050% / 4h	3h 16m	$1.7M	$3.2M	20x
Short	Binance PONSUSDT	0.6102	0.0364	get 0.0182% / 4h	3h 16m	$40.1M	$96.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now +0.181%Rate

Funding earned: $55.5
Price spread: +0.181% → +0.002%: $17.84
Slippage, 4 orders: −$94.15
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$42.82
Costs to cover: 1.162%
Break-even: 12.4 days

Slippage from Phemex: live order book, 2 min ago; Binance: live order book, 11 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 Phemex live order book, 2 min ago	4.93 bp	40.9 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	1.63 bp	13.4 bp −$13	44.5 bp −$445	275.5 bp −$27.5K	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	0.6079	−0.202%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.995%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6091	−0.003%	$429K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6095	+0.066%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6082	−0.148%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6093	+0.039%	$33K	$358K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6098	+0.108%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6094	+0.053%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6092	+0.013%	$28K	$544K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6103	+0.192%	$65K	$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 PONSUSDTlong	+0.0100%	4h	0.6091	long leg	$1.7M	$3.2M	20x
Aevo PONS-PERP	+0.0168%	1h	0.6082	−0.150%	$379	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0185%	4h	0.6100	+0.148%	$13.9M	$56.6M	20x	as long as short
KuCoin PONSUSDTM	+0.0198%	4h	0.6103	+0.199%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0262%	4h	0.6105	+0.231%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0271%	4h	0.6097	+0.102%	$1.1M	$2.1M	20x	as long as short
MEXC PONS_USDT	+0.0360%	4h	0.6100	+0.148%	$7.9M	$4.8M	20x	as long as short
Binance PONSUSDTshort	+0.0364%	4h	0.6102	+0.181%	$40.1M	$96.3M	20x
Extended PONS-USD	+0.0368%	1h	0.6099	+0.131%	$252K	$678K	5x	as long as short
edgeX PONSUSDC	+0.0379%	4h	0.6082	−0.151%	$21K	$293K	10x	as long as short
Lighter PONS	+0.0424%	1h	0.6091	+0.005%	$1.7M	$933K	3x	as long as short
BingX PONS-USDT	+0.0560%	4h	0.6103	+0.197%	—	$3.1M	—	as long as short
BloFin PONS-USDT	+0.0604%	4h	0.6096	+0.082%	$1.8M	$990K	20x	as long as short
Nado PONS-PERP	+0.0612%	1h	0.6094	+0.049%	$105K	$115K	5x	as long as short
Bybit PONSUSDT	+0.0614%	4h	0.6098	+0.115%	$18.3M	$30.9M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6092	+0.016%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0770%	1h	0.6093	+0.038%	$44K	$1.6M	3x	as long as short
Gate PONS_USDT	+0.0780%	4h	0.6089	−0.033%	$5.3M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0874%	1h	0.6098	+0.121%	$62.0M	$29.1M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6094	+0.044%	$32K	$113K	3x	as long as short