PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1111%/8h= −121.7% APRnext payment −$1.39 per $10,000 · paid last 24h −0.298%

Price spread now: Extended against Phoenix−0.133%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$238as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$890.888% of the position

Long on Phoenix Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−1.487%−$149 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.133%, 7d avg −0.034%

Together, before fees−1.404%+ Points / potential airdropExtended: Active · farm board−$140 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and Extended is 0.099% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix PONS	0.5922	0.1719	pay 0.0215% / 1h	41m 14s	$45K	$121K	3x
Short	Extended PONS-USD	0.5914	0.0608	get 0.0076% / 1h	41m 14s	$106K	$807K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Phoenix. 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 PhoenixbpFee ExtendedbpOrdersPrice spread, now −0.133%Rate

Funding earned: −$233.38
Price spread: −0.133% → −0.034%: −$9.91
Slippage, 4 orders: −$76.85
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$332.13
Costs to cover: 0.888%
Break-even: never at this rate

Slippage from Phoenix: live order book, 64 min ago; Extended: live order book, 7 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, 64 min ago	3.66 bp	17.7 bp −$18	56.1 bp −$561	doesn't fit	doesn't fit
Sell Extended live order book, 7 min ago	12.04 bp	26.4 bp −$26	146.6 bp −$1,466	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	0.5906	−0.270%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.809%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5912	−0.162%	$417K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5919	−0.044%	$21K	$417K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5918	−0.060%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5914	−0.135%	$34K	$335K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5922	+0.005%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5918	−0.059%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5915	−0.117%	$25K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5944	+0.382%	$64K	$512K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.5915	−0.111%	$1.6M	$3.2M	20x	as long as short
Gate PONS_USDT	+0.0150%	4h	0.5911	−0.179%	$5.2M	$6.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5907	−0.243%	$368	—	3x	as long as short
Hyperliquid PONS	+0.0260%	1h	0.5917	−0.074%	$60.0M	$29.0M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0365%	4h	0.5915	−0.111%	$13.4M	$54.7M	20x	as long as short
Aster PONSUSDT	+0.0482%	4h	0.5914	−0.125%	$1.1M	$2.2M	20x	as long as short
Variational Omni PONS	+0.0538%	4h	0.5931	+0.167%	$1.4M	$4.1M	—	as long as short
Bitget PONSUSDT	+0.0556%	4h	0.5916	−0.096%	$4.7M	$11.8M	20x	as long as short
Extended PONS-USDshort	+0.0608%	1h	0.5914	−0.133%	$106K	$807K	5x
MEXC PONS_USDT	+0.0608%	4h	0.5918	−0.061%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0608%	4h	0.5912	−0.162%	$38.7M	$94.7M	20x	as long as short
edgeX PONSUSDC	+0.0627%	4h	0.5923	+0.028%	$20K	$294K	10x	as long as short
Pacifica PONS	+0.0715%	1h	0.5920	−0.028%	$46K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0738%	4h	0.5917	−0.074%	$1.6M	$3.8M	20x	as long as short
Lighter PONS	+0.0760%	1h	0.5916	−0.095%	$1.6M	$886K	3x	as long as short
Polymarket Perps PONS-USD	+0.0791%	1h	0.5918	−0.061%	$87K	$1.7M	3x	as long as short
BingX PONS-USDT	+0.0808%	4h	0.5914	−0.128%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0832%	4h	0.5912	−0.162%	$17.7M	$31.0M	20x	as long as short
BloFin PONS-USDT	+0.0848%	4h	0.5919	−0.044%	$1.7M	$943K	20x	as long as short
Phoenix PONSlong	+0.1719%	1h	0.5922	long leg	$45K	$121K	3x