PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0194%/8h= +21.2% APRnext payment +$0.97 per $10,000 · paid last 24h +0.098%

Price spread now: MEXC against Phemex+0.277%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$1101.097% of the position

Long on Phemex Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.433%+$43 on $10k

Price spread, last 3 days (all we have)−0.353%−$35 · spread now +0.277%, 7d avg +0.003%

Together, before fees+0.080%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and MEXC is 0.274% dearer against Phemex than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.6138	0.0100	pay 0.0050% / 4h	50m 32s	$1.7M	$3.3M	20x
Short	MEXC PONS_USDT	0.6155	0.0294	get 0.0147% / 4h	50m 32s	$8.2M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.277%Rate

Funding earned: $40.74
Price spread: +0.277% → +0.003%: $27.43
Slippage, 4 orders: −$97.69
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$41.53
Costs to cover: 1.097%
Break-even: 14.1 days

Slippage from Phemex: live order book, 3 min ago; MEXC: 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 Phemex live order book, 3 min ago	2.44 bp	64.0 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.81 bp	3.3 bp −$3	10.0 bp −$100	290.4 bp −$29.0K	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.745%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6136	−0.034%	$231K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6157	+0.310%	$20K	$461K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6157	+0.312%	$87K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6153	+0.244%	$18.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6154	+0.261%	$14.0M	$58.7M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6148	+0.169%	$1.8M	$3.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6082	−0.909%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6163	+0.404%	$33K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6154	+0.266%	$3K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.6142	+0.073%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6145	+0.109%	$28K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6157	+0.316%	$65K	$509K	20x	as long as short
Phemex PONSUSDTlong	+0.0100%	4h	0.6138	long leg	$1.7M	$3.3M	20x
Bitget PONSUSDT	+0.0116%	4h	0.6160	+0.355%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6149	+0.171%	$383	—	3x	as long as short
Aster PONSUSDT	+0.0208%	4h	0.6147	+0.153%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0252%	4h	0.6109	−0.467%	$21K	$292K	10x	as long as short
BingX PONS-USDT	+0.0265%	4h	0.6151	+0.212%	—	$3.1M	—	as long as short
Binance PONSUSDT	+0.0291%	4h	0.6158	+0.318%	$40.1M	$99.3M	20x	as long as short
MEXC PONS_USDTshort	+0.0294%	4h	0.6155	+0.277%	$8.2M	$4.8M	20x
Extended PONS-USD	+0.0296%	1h	0.6154	+0.257%	$254K	$682K	5x	as long as short
Lighter PONS	+0.0464%	1h	0.6152	+0.235%	$1.7M	$921K	3x	as long as short
BloFin PONS-USDT	+0.0535%	4h	0.6149	+0.179%	$1.7M	$1.0M	20x	as long as short
Lighter RH PONS	+0.0592%	1h	0.6151	+0.217%	$433K	$2.6M	3x	as long as short
Polymarket Perps PONS-USD	+0.0771%	1h	0.6159	+0.336%	$42K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6153	+0.242%	$48K	$96K	3x	as long as short
Hyperliquid PONS	+0.1102%	1h	0.6159	+0.344%	$62.7M	$30.7M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6117	−0.342%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.1984%	4h	0.6144	+0.098%	$5.4M	$6.2M	20x	as long as short