Funding you earn now, next payment 04:00 UTC+0.0404%/8h= +44.2% APRnext payment +$2.02 per $10,000 · paid last 24h +0.129%
Price spread now: BingX against Phemex−0.034%7-day average +0.025% · you buy dearer than you sell
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$106as in the Price arb table
costs, in and out, $10k−$1000.997% of the position
Funding, last 7 days+0.633%+$63 on $10k
+Price spread, last 4 days (all we have)−0.686%−$69 · spread now −0.034%, 7d avg +0.025%
=Funding pays, the price is against you. BingX is 0.058% cheaper against Phemex than usual: you would sell low and buy high (spread −0.034% now, against its 7-day average of +0.025%). If the spread goes back, that is −$6 on $10k: about 12 hours of funding at the current rate (+$12 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PONSUSDT | 0.5923 | 0.0100 | pay 0.0050% / 4h | 52m 15s | $1.6M | $3.2M | 20x |
| Short | BingX PONS-USDT | 0.5921 | 0.0504 | get 0.0252% / 4h | 52m 15s | — | $3.0M | — |
Phemex PONSUSDT
BingX PONS-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Phemex. 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
- $84.84
- Price spread: −0.034% → +0.025%
- −$5.84
- Slippage, 4 orders
- −$77.71
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$20.71
- Costs to cover
- 0.997%
- Break-even
- 8.7 days
Slippage from Phemex: live order book, 1 min ago; BingX: live order book, 13 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, 1 min ago | 2.53 bp | 36.1 bp −$36 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 13 min ago | 3.36 bp | 12.4 bp −$12 | 30.6 bp −$306 | 122.1 bp −$12.2K | 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 | 0.5906 | −0.284% | $235K | — | 150x | as long as short |
| Injective PONS/USDC PERP | +0.0033% | 1h | 0.5969 | +0.785% | $614 | $10K | 5.5x | as long as short |
| Popdex PONSUSDT | +0.0096% | 1h | 0.5911 | −0.203% | $21K | $434K | 20x | as long as short |
| Gate PONS_USDT | +0.0100% | 4h | 0.5916 | −0.118% | $5.2M | $6.2M | 20x | as long as short |
| ApeX Omni PONSUSDT | +0.0100% | 1h | 0.5932 | +0.155% | $34K | $351K | 5x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.0100% | 4h | 0.5920 | −0.057% | $2K | $3K | 10x | as long as short |
| SunX PONS-USDT | +0.0100% | 4h | 0.5916 | −0.111% | — | $1.3M | 10x | as long as short |
| SoDEX PONS-USD | +0.0100% | 1h | 0.5913 | −0.177% | $25K | $524K | 3x | as long as short |
| HTX PONS-USDT | +0.0100% | 4h | 0.5924 | +0.020% | $64K | $512K | 20x | as long as short |
| Phemex PONSUSDTlong | +0.0100% | 4h | 0.5923 | long leg | $1.6M | $3.2M | 20x |
gTrade (Gains Network) PONS/USD
Injective PONS/USDC PERP
Popdex PONSUSDT
Gate PONS_USDT
ApeX Omni PONSUSDT
Orderly PERP_PONS_USDC_mythos
SunX PONS-USDT
SoDEX PONS-USD
HTX PONS-USDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter PONS | +0.0120% | 1h | 0.5914 | −0.159% | $1.6M | $877K | 3x | as long as short |
| Variational Omni PONS | +0.0189% | 4h | 0.5947 | +0.406% | $1.4M | $3.9M | — | as long as short |
| Aevo PONS-PERP | +0.0216% | 1h | 0.5911 | −0.194% | $368 | — | 3x | as long as short |
| Nado PONS-PERP | +0.0317% | 1h | 0.5907 | −0.270% | $69K | $129K | 5x | as long as short |
| OKX PONS-USDT-SWAP | +0.0334% | 4h | 0.5916 | −0.118% | $13.4M | $54.1M | 20x | as long as short |
| Lighter RH PONS | +0.0336% | 1h | 0.5913 | −0.169% | $404K | $2.4M | 3x | as long as short |
| Aster PONSUSDT | +0.0393% | 4h | 0.5907 | −0.265% | $1.1M | $2.1M | 20x | as long as short |
| Bitget PONSUSDT | +0.0442% | 4h | 0.5918 | −0.083% | $4.6M | $11.4M | 20x | as long as short |
| Bybit PONSUSDT | +0.0449% | 4h | 0.5913 | −0.169% | $17.7M | $30.7M | 20x | as long as short |
| BingX PONS-USDTshort | +0.0504% | 4h | 0.5921 | −0.034% | — | $3.0M | — | |
| Extended PONS-USD | +0.0528% | 1h | 0.5913 | −0.161% | $106K | $808K | 5x | as long as short |
| MEXC PONS_USDT | +0.0528% | 4h | 0.5916 | −0.118% | $7.5M | $4.7M | 20x | as long as short |
| Binance PONSUSDT | +0.0529% | 4h | 0.5915 | −0.129% | $38.9M | $94.9M | 20x | as long as short |
| edgeX PONSUSDC | +0.0532% | 4h | 0.5937 | +0.236% | $18K | $292K | 10x | as long as short |
| KuCoin PONSUSDTM | +0.0536% | 4h | 0.5915 | −0.137% | $1.6M | $3.7M | 20x | as long as short |
| BloFin PONS-USDT | +0.0770% | 4h | 0.5931 | +0.135% | $1.7M | $954K | 20x | as long as short |
| Hyperliquid PONS | +0.0794% | 1h | 0.5917 | −0.108% | $60.2M | $27.8M | 3x | as long as short |
| Pacifica PONS | +0.0859% | 1h | 0.5913 | −0.167% | $47K | $67K | 3x | as long as short |
| Polymarket Perps PONS-USD | +0.0905% | 1h | 0.5911 | −0.201% | $66K | $1.6M | 3x | as long as short |
| Phoenix PONS | +0.1736% | 1h | 0.5937 | +0.230% | $31K | $104K | 3x | as long as short |
Lighter PONS
Variational Omni PONS
Aevo PONS-PERP
Nado PONS-PERP
OKX PONS-USDT-SWAP
Lighter RH PONS
Aster PONSUSDT
Bitget PONSUSDT
Bybit PONSUSDT
Extended PONS-USD
MEXC PONS_USDT
Binance PONSUSDT
edgeX PONSUSDC
KuCoin PONSUSDTM
BloFin PONS-USDT
Hyperliquid PONS
Pacifica PONS
Polymarket Perps PONS-USD
Phoenix PONS