PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1302%/8h= −142.6% APRnext payment −$1.63 per $10,000 · paid last 24h −0.400%

Price spread now: Popdex against Phoenix−0.034%54s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$39 a day on $10k at the current rate, and Popdex is 0.034% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 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	0.6092	0.1398	pay 0.0175% / 1h	55m 56s	$31K	$102K	3x
Short	Popdex PONSUSDT	0.6090	0.0096	get 0.0012% / 1h	55m 56s	$21K	$450K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$273.45
Price spread: −0.034% → 0.000%: −$3.45
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$290.3
Costs to cover: 0.134%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Popdex: live order book, 23 min ago. Net counts fees only.

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 no order-book sample	—	—	—	—	—
Sell Popdex live order book, 23 min ago	10.77 bp	87.6 bp −$88	doesn't fit	doesn't fit	doesn't fit

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−2.012%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6079	−0.216%	$229K	—	150x	as long as short
Popdex PONSUSDTshort	+0.0096%	1h	0.6090	−0.034%	$21K	$450K	20x
Nado PONS-PERP	+0.0100%	1h	0.6089	−0.047%	$86K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6087	−0.084%	$18.4M	$31.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6086	−0.100%	$13.8M	$57.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6087	−0.082%	$1.8M	$3.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6093	+0.018%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6095	+0.041%	$33K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6092	+0.002%	$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	0.6094	+0.026%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6089	−0.057%	$28K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6092	+0.005%	$65K	$508K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6079	−0.215%	$1.7M	$3.3M	20x	as long as short
Bitget PONSUSDT	+0.0106%	4h	0.6090	−0.033%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0144%	1h	0.6089	−0.046%	$379	—	3x	as long as short
Lighter RH PONS	+0.0152%	1h	0.6090	−0.041%	$429K	$2.6M	3x	as long as short
Aster PONSUSDT	+0.0176%	4h	0.6087	−0.086%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0240%	1h	0.6089	−0.043%	$1.7M	$921K	3x	as long as short
Extended PONS-USD	+0.0248%	1h	0.6088	−0.063%	$251K	$680K	5x	as long as short
MEXC PONS_USDT	+0.0248%	4h	0.6091	−0.018%	$8.1M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0250%	4h	0.6091	−0.018%	$39.7M	$98.7M	20x	as long as short
BingX PONS-USDT	+0.0252%	4h	0.6088	−0.067%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0258%	4h	0.6096	+0.063%	$21K	$292K	10x	as long as short
BloFin PONS-USDT	+0.0489%	4h	0.6098	+0.097%	$1.7M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0704%	1h	0.6091	−0.021%	$40K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6085	−0.112%	$48K	$96K	3x	as long as short
Hyperliquid PONS	+0.0900%	1h	0.6093	+0.021%	$61.8M	$30.6M	3x	as long as short
Phoenix PONSlong	+0.1398%	1h	0.6092	long leg	$31K	$102K	3x
Gate PONS_USDT	+0.1786%	4h	0.6085	−0.117%	$5.3M	$6.2M	20x	as long as short