Funding you earn now, next payment 22:00 UTC+0.0386%/8h= +42.2% APRpaid last 24h +0.184%
Price spread now: Hyperliquid against Phemex+0.109%7-day average +0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$65as in the Funding arb table
Net, price: spread back to 7d avg − costs−$96as in the Price arb table
costs, in and out, $10k−$1071.066% of the position
Funding, last 7 days+0.413%+$41 on $10k
+Price spread, last 3 days (all we have)−0.339%−$34 · spread now +0.109%, 7d avg +0.006%
=Together, before fees+0.074%+ Points / potential airdropHyperliquid: Season 2 · farm board+$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Hyperliquid is 0.102% dearer against Phemex than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.006%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PONSUSDT | 0.5875 | 0.0100 | pay 0.0050% / 4h | 2h 12m | $1.6M | $3.3M | 20x |
| Short | Hyperliquid PONS | 0.5881 | 0.0486 | get 0.0061% / 1h | 12m 46s | $58.9M | $30.1M | 3x |
Phemex PONSUSDT
Hyperliquid PONSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $81.01
- Price spread: +0.109% → +0.006%
- $10.25
- Slippage, 4 orders
- −$85.56
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$15.3
- Costs to cover
- 1.066%
- Break-even
- 8.3 days
Slippage from Phemex: live order book, 6 min ago; Hyperliquid: 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, 6 min ago | 1.70 bp | 43.4 bp −$43 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 0.09 bp | 14.0 bp −$14 | 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 −0.0034% | 1h | 0.5879 | +0.077% | $216K | — | 150x | as long as short |
| Injective PONS/USDC PERP | +0.0066% | 1h | 0.5920 | +0.759% | $609 | $6K | 5.5x | as long as short |
| Popdex PONSUSDT | +0.0096% | 1h | 0.5887 | +0.204% | $21K | $443K | 20x | as long as short |
| Bybit PONSUSDT | +0.0100% | 4h | 0.5871 | −0.068% | $17.5M | $31.8M | 20x | as long as short |
| OKX PONS-USDT-SWAP | +0.0100% | 4h | 0.5876 | +0.017% | $13.4M | $55.9M | 20x | as long as short |
| KuCoin PONSUSDTM | +0.0100% | 4h | 0.5879 | +0.061% | $1.7M | $3.7M | 20x | as long as short |
| Bitget PONSUSDT | +0.0100% | 4h | 0.5880 | +0.085% | $4.6M | $11.7M | 20x | as long as short |
| Variational Omni PONS | +0.0100% | 4h | 0.5905 | +0.515% | $1.3M | $4.3M | — | as long as short |
| ApeX Omni PONSUSDT | +0.0100% | 1h | 0.5909 | +0.580% | $34K | $336K | 5x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.0100% | 4h | 0.5884 | +0.153% | $2K | $3K | 10x | as long as short |
gTrade (Gains Network) PONS/USD
Injective PONS/USDC PERP
Popdex PONSUSDT
Bybit PONSUSDT
OKX PONS-USDT-SWAP
KuCoin PONSUSDTM
Bitget PONSUSDT
Variational Omni PONS
ApeX Omni PONSUSDT
Orderly PERP_PONS_USDC_mythosShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX PONS-USDT | +0.0100% | 4h | 0.5900 | +0.431% | — | $1.4M | 10x | as long as short |
| SoDEX PONS-USD | +0.0100% | 1h | 0.5879 | +0.063% | $27K | $549K | 3x | as long as short |
| HTX PONS-USDT | +0.0100% | 4h | 0.5899 | +0.403% | $63K | $505K | 20x | as long as short |
| Phemex PONSUSDTlong | +0.0100% | 4h | 0.5875 | long leg | $1.6M | $3.3M | 20x | |
| Nado PONS-PERP | +0.0103% | 1h | 0.5892 | +0.289% | $89K | $103K | 5x | as long as short |
| Aevo PONS-PERP | +0.0128% | 1h | 0.5883 | +0.140% | $367 | — | 3x | as long as short |
| Aster PONSUSDT | +0.0168% | 4h | 0.5878 | +0.056% | $1.1M | $2.2M | 20x | as long as short |
| Binance PONSUSDT | +0.0177% | 4h | 0.5876 | +0.017% | $38.2M | $98.3M | 20x | as long as short |
| BingX PONS-USDT | +0.0178% | 4h | 0.5875 | 0.000% | — | $3.1M | — | as long as short |
| MEXC PONS_USDT | +0.0180% | 4h | 0.5875 | 0.000% | $7.5M | $5.2M | 20x | as long as short |
| Extended PONS-USD | +0.0184% | 1h | 0.5878 | +0.044% | $106K | $533K | 5x | as long as short |
| edgeX PONSUSDC | +0.0194% | 4h | 0.5909 | +0.572% | $21K | $294K | 10x | as long as short |
| Polymarket Perps PONS-USD | +0.0364% | 1h | 0.5886 | +0.192% | $37K | $1.8M | 3x | as long as short |
| BloFin PONS-USDT | +0.0422% | 4h | 0.5890 | +0.255% | $1.7M | $964K | 20x | as long as short |
| Pacifica PONS | +0.0474% | 1h | 0.5876 | +0.018% | $47K | $103K | 3x | as long as short |
| Hyperliquid PONSshort | +0.0486% | 1h | 0.5881 | +0.109% | $58.9M | $30.1M | 3x | |
| Lighter RH PONS | +0.0536% | 1h | 0.5878 | +0.048% | $413K | $2.6M | 3x | as long as short |
| Gate PONS_USDT | +0.0784% | 4h | 0.5877 | +0.034% | $5.1M | $6.8M | 20x | as long as short |
| Lighter PONS | +0.0992% | 1h | 0.5881 | +0.099% | $1.7M | $889K | 3x | as long as short |
| Phoenix PONS | +0.1275% | 1h | 0.5911 | +0.606% | $30K | $86K | 3x | as long as short |
SunX PONS-USDT
SoDEX PONS-USD
HTX PONS-USDT
Nado PONS-PERP
Aevo PONS-PERP
Aster PONSUSDT
Binance PONSUSDT
BingX PONS-USDT
MEXC PONS_USDT
Extended PONS-USD
edgeX PONSUSDC
Polymarket Perps PONS-USD
BloFin PONS-USDT
Pacifica PONS
Lighter RH PONS
Gate PONS_USDT
Lighter PONS
Phoenix PONS