Funding you earn now, next payment 03:00 UTC−0.0925%/8h= −101.3% APRpaid last 24h −0.231%
Price spread now: BloFin against Phoenix−0.110%7-day average +0.037% · you buy dearer than you sell
Net, funding: paid 7d − costs−$186as in the Funding arb table
Net, price: spread back to 7d avg − costs−$91as in the Price arb table
costs, in and out, $10k−$760.765% of the position
Funding, last 7 days−1.098%−$110 on $10k
+Price spread, last 4 days (all we have)+0.613%+$61 · spread now −0.110%, 7d avg +0.037%
=Both sides work against this trade now: funding costs −$28 a day on $10k at the current rate, and BloFin is 0.147% cheaper against Phoenix than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.037%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix PONS | 0.5981 | 0.1736 | pay 0.0217% / 1h | 28m 11s | $31K | $104K | 3x |
| Short | BloFin PONS-USDT | 0.5974 | 0.0810 | get 0.0405% / 4h | 28m 11s | $1.7M | $953K | 20x |
Phoenix PONS
BloFin PONS-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Phoenix. 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
- −$194.34
- Price spread: −0.110% → +0.037%
- −$14.69
- Slippage, 4 orders
- −$57.47
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$285.5
- Costs to cover
- 0.765%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 22 min ago; BloFin: live order book, 5 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 Phoenix live order book, 22 min ago | 4.57 bp | 20.8 bp −$21 | 67.5 bp −$675 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 5 min ago | 9.18 bp | 15.2 bp −$15 | 32.7 bp −$327 | 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 +0.0033% / S −0.0032% | 1h | 0.5982 | +0.029% | $238K | — | 150x | as long as short |
| Injective PONS/USDC PERP | +0.0033% | 1h | 0.5969 | −0.186% | $614 | $10K | 5.5x | as long as short |
| Popdex PONSUSDT | +0.0096% | 1h | 0.5966 | −0.244% | $20K | $435K | 20x | as long as short |
| Gate PONS_USDT | +0.0100% | 4h | 0.5979 | −0.027% | $5.3M | $6.3M | 20x | as long as short |
| ApeX Omni PONSUSDT | +0.0100% | 1h | 0.6004 | +0.390% | $34K | $349K | 5x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.0100% | 4h | 0.5991 | +0.181% | $2K | $3K | 10x | as long as short |
| SunX PONS-USDT | +0.0100% | 4h | 0.5968 | −0.202% | — | $1.3M | 10x | as long as short |
| SoDEX PONS-USD | +0.0100% | 1h | 0.5989 | +0.149% | $26K | $534K | 3x | as long as short |
| HTX PONS-USDT | +0.0100% | 4h | 0.5983 | +0.033% | $65K | $512K | 20x | as long as short |
| Phemex PONSUSDT | +0.0100% | 4h | 0.5977 | −0.060% | $1.6M | $3.2M | 20x | as long as short |
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-USDT
Phemex PONSUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter PONS | +0.0160% | 1h | 0.5985 | +0.074% | $1.6M | $884K | 3x | as long as short |
| Variational Omni PONS | +0.0215% | 4h | 0.5965 | −0.253% | $1.4M | $3.9M | — | as long as short |
| Aevo PONS-PERP | +0.0224% | 1h | 0.5980 | −0.002% | $373 | — | 3x | as long as short |
| Nado PONS-PERP | +0.0249% | 1h | 0.5965 | −0.257% | $70K | $129K | 5x | as long as short |
| Lighter RH PONS | +0.0304% | 1h | 0.5985 | +0.080% | $402K | $2.5M | 3x | as long as short |
| OKX PONS-USDT-SWAP | +0.0312% | 4h | 0.5980 | −0.010% | $13.6M | $54.8M | 20x | as long as short |
| Aster PONSUSDT | +0.0425% | 4h | 0.5971 | −0.162% | $1.1M | $2.1M | 20x | as long as short |
| Bybit PONSUSDT | +0.0459% | 4h | 0.5980 | −0.010% | $17.8M | $30.8M | 20x | as long as short |
| Bitget PONSUSDT | +0.0460% | 4h | 0.5986 | +0.087% | $4.6M | $11.5M | 20x | as long as short |
| BingX PONS-USDT | +0.0536% | 4h | 0.5982 | +0.023% | — | $3.0M | — | as long as short |
| edgeX PONSUSDC | +0.0568% | 4h | 0.5980 | −0.009% | $18K | $294K | 10x | as long as short |
| Extended PONS-USD | +0.0568% | 1h | 0.5978 | −0.049% | $107K | $809K | 5x | as long as short |
| MEXC PONS_USDT | +0.0570% | 4h | 0.5984 | +0.057% | $7.6M | $4.7M | 20x | as long as short |
| Binance PONSUSDT | +0.0571% | 4h | 0.5982 | +0.023% | $39.1M | $94.9M | 20x | as long as short |
| KuCoin PONSUSDTM | +0.0646% | 4h | 0.5986 | +0.095% | $1.6M | $3.7M | 20x | as long as short |
| Hyperliquid PONS | +0.0715% | 1h | 0.5986 | +0.097% | $61.2M | $28.0M | 3x | as long as short |
| BloFin PONS-USDTshort | +0.0810% | 4h | 0.5974 | −0.110% | $1.7M | $953K | 20x | |
| Pacifica PONS | +0.0859% | 1h | 0.5965 | −0.267% | $47K | $67K | 3x | as long as short |
| Polymarket Perps PONS-USD | +0.0900% | 1h | 0.5968 | −0.216% | $66K | $1.6M | 3x | as long as short |
| Phoenix PONSlong | +0.1736% | 1h | 0.5981 | long leg | $31K | $104K | 3x |
Lighter PONS
Variational Omni PONS
Aevo PONS-PERP
Nado PONS-PERP
Lighter RH PONS
OKX PONS-USDT-SWAP
Aster PONSUSDT
Bybit PONSUSDT
Bitget PONSUSDT
BingX PONS-USDT
edgeX PONSUSDC
Extended PONS-USD
MEXC PONS_USDT
Binance PONSUSDT
KuCoin PONSUSDTM
Hyperliquid PONS
Pacifica PONS
Polymarket Perps PONS-USD