PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1487%/8h= −162.8% APRnext payment −$1.86 per $10,000 · paid last 24h −0.322%

Price spread now: Nado against Phoenix−0.257%57s7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1391.390% of the position

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−1.179%−$118 on $10k

Price spread, last 4 days (all we have)+0.374%+$37 · spread now −0.257%, 7d avg −0.004%

Together, before fees−0.806%+ Points / potential airdropNado: Active · farm board−$81 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$45 a day on $10k at the current rate, and Nado is 0.253% cheaper against Phoenix than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.004%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

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	27m 50s	$31K	$104K	3x
Short	Nado PONS-PERP	0.5965	0.0249	get 0.0031% / 1h	27m 50s	$70K	$129K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.257%Rate

Funding earned: −$312.22
Price spread: −0.257% → −0.004%: −$25.28
Slippage, 4 orders: −$131.97
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 0 bp × 2 orders: $0
Net: −$476.47
Costs to cover: 1.390%
Break-even: never at this rate

Slippage from Phoenix: live order book, 22 min ago; Nado: live order book, 21 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 Nado live order book, 21 min ago	17.02 bp	47.6 bp −$48	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 +0.0033% / 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

Show 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-PERPshort	+0.0249%	1h	0.5965	−0.257%	$70K	$129K	5x
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	0.5998	+0.291%	$13.6M	$54.9M	20x	as long as short
Aster PONSUSDT	+0.0425%	4h	0.5974	−0.118%	$1.1M	$2.1M	20x	as long as short
Bybit PONSUSDT	+0.0459%	4h	0.5994	+0.224%	$17.9M	$30.8M	20x	as long as short
Bitget PONSUSDT	+0.0460%	4h	0.6007	+0.443%	$4.6M	$11.5M	20x	as long as short
BingX PONS-USDT	+0.0538%	4h	0.5998	+0.291%	—	$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	0.5988	+0.130%	$107K	$809K	5x	as long as short
MEXC PONS_USDT	+0.0570%	4h	0.5994	+0.224%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0571%	4h	0.5993	+0.214%	$39.2M	$94.9M	20x	as long as short
KuCoin PONSUSDTM	+0.0646%	4h	0.5987	+0.099%	$1.6M	$3.7M	20x	as long as short
Hyperliquid PONS	+0.0723%	1h	0.6004	+0.398%	$61.4M	$28.0M	3x	as long as short
BloFin PONS-USDT	+0.0810%	4h	0.5974	−0.110%	$1.7M	$953K	20x	as long as short
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