Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Phemex−0.051%7-day average +0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$331as in the Funding arb table

Net, price: spread back to 7d avg − costs−$339as in the Price arb table

costs, in and out, $10k−$3293.295% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 3 days (all we have)+0.052%+$5 · spread now −0.051%, 7d avg +0.042%

Together, before fees+0.036%+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.093% cheaper against Phemex than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.6046	0.0100	pay 0.0050% / 4h	2h 24m	$1.7M	$3.2M	20x
Short	SunX PONS-USDT	0.6043	0.0100	get 0.0050% / 4h	2h 24m	—	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.051%Rate

Funding earned: $0
Price spread: −0.051% → +0.042%: −$9.33
Slippage, 4 orders: −$309.49
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$338.82
Costs to cover: 3.295%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; SunX: live order book, 9 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, 4 min ago	4.98 bp	39.5 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	104.63 bp	124.4 bp −$124	doesn't fit	doesn't fit	doesn't fit

PONS on 29 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	0.6037	−0.141%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.265%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6042	−0.066%	$20K	$422K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6026	−0.339%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6017	−0.473%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6049	+0.048%	$2K	$3K	10x	as long as short
SunX PONS-USDTshort	+0.0100%	4h	0.6043	−0.051%	—	$1.3M	10x
SoDEX PONS-USD	+0.0100%	1h	0.6046	0.000%	$26K	$518K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6063	+0.280%	$65K	$509K	20x	as long as short
Phemex PONSUSDTlong	+0.0100%	4h	0.6046	long leg	$1.7M	$3.2M	20x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0184%	1h	0.6071	+0.412%	$428K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0184%	1h	0.6043	−0.049%	$376	—	3x	as long as short
KuCoin PONSUSDTM	+0.0218%	4h	0.6065	+0.319%	$1.7M	$3.6M	20x	as long as short
Nado PONS-PERP	+0.0224%	1h	0.6042	−0.059%	$71K	$131K	5x	as long as short
Bybit PONSUSDT	+0.0240%	4h	0.6067	+0.347%	$18.2M	$30.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0241%	4h	0.6065	+0.314%	$13.9M	$55.2M	20x	as long as short
Lighter PONS	+0.0256%	1h	0.6070	+0.394%	$1.7M	$884K	3x	as long as short
Bitget PONSUSDT	+0.0306%	4h	0.6075	+0.481%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0374%	4h	0.6062	+0.271%	$1.1M	$2.0M	20x	as long as short
BingX PONS-USDT	+0.0388%	4h	0.6069	+0.380%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0400%	1h	0.6062	+0.271%	$250K	$672K	5x	as long as short
MEXC PONS_USDT	+0.0402%	4h	0.6070	+0.397%	$7.8M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0408%	4h	0.6073	+0.447%	$39.8M	$94.8M	20x	as long as short
edgeX PONSUSDC	+0.0416%	4h	0.6024	−0.367%	$21K	$291K	10x	as long as short
Gate PONS_USDT	+0.0452%	4h	0.6050	+0.066%	$5.3M	$6.1M	20x	as long as short
Hyperliquid PONS	+0.0689%	1h	0.6072	+0.438%	$61.9M	$28.0M	3x	as long as short
Polymarket Perps PONS-USD	+0.0739%	1h	0.6046	+0.002%	$45K	$1.5M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6071	+0.420%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6031	−0.240%	$31K	$107K	3x	as long as short