PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1372%/8h= +150.3% APRnext payment +$1.72 per $10,000 · paid last 24h +0.398%

Price spread now: Phoenix against SoDEX+0.203%7-day average +0.002% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1681.684% of the position

Long on SoDEX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+1.387%+$139 on $10k

Price spread, last 4 days (all we have)−0.419%−$42 · spread now +0.203%, 7d avg +0.002%

Together, before fees+0.967%+$97 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$41 a day on $10k at the current rate, and Phoenix is 0.201% dearer against SoDEX than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PONS-USD	0.5913	0.0100	pay 0.0013% / 1h	36m 21s	$25K	$586K	3x
Short	Phoenix PONS	0.5925	0.1472	get 0.0184% / 1h	36m 21s	$45K	$127K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against SoDEX. 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 SoDEXbpFee PhoenixbpOrdersPrice spread, now +0.203%Rate

Funding earned: $288.19
Price spread: +0.203% → +0.002%: $20.1
Slippage, 4 orders: −$153.36
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $139.94
Costs to cover: 1.684%
Break-even: 3.6 days

Slippage from SoDEX: live order book, 7 min ago; Phoenix: live order book, 64 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 SoDEX live order book, 7 min ago	1.69 bp	66.2 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 64 min ago	4.06 bp	19.3 bp −$19	64.7 bp −$647	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	0.5907	−0.105%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.956%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5905	−0.139%	$415K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5910	−0.051%	$22K	$421K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5916	+0.051%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5908	−0.077%	$69K	$131K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5921	+0.139%	$29K	$317K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5916	+0.056%	—	$1.3M	10x	as long as short
SoDEX PONS-USDlong	+0.0100%	1h	0.5913	long leg	$25K	$586K	3x
HTX PONS-USDT	+0.0100%	4h	0.5913	+0.002%	$64K	$524K	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	0.5910	−0.051%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0216%	1h	0.5914	+0.008%	$368	—	3x	as long as short
Hyperliquid PONS	+0.0228%	1h	0.5913	0.000%	$60.0M	$29.5M	3x	as long as short
Gate PONS_USDT	+0.0366%	4h	0.5904	−0.152%	$5.3M	$6.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0406%	4h	0.5916	+0.051%	$13.3M	$55.9M	20x	as long as short
Polymarket Perps PONS-USD	+0.0442%	1h	0.5911	−0.027%	$94K	$1.9M	3x	as long as short
Aster PONSUSDT	+0.0459%	4h	0.5908	−0.078%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0520%	1h	0.5902	−0.190%	$101K	$811K	5x	as long as short
MEXC PONS_USDT	+0.0522%	4h	0.5915	+0.034%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0524%	4h	0.5915	+0.041%	$37.2M	$98.5M	20x	as long as short
edgeX PONSUSDC	+0.0555%	4h	0.5918	+0.077%	$20K	$291K	10x	as long as short
Pacifica PONS	+0.0556%	1h	0.5906	−0.125%	$45K	$68K	3x	as long as short
Variational Omni PONS	+0.0609%	4h	0.5918	+0.092%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0638%	4h	0.5909	−0.059%	$1.6M	$3.8M	20x	as long as short
Bitget PONSUSDT	+0.0672%	4h	0.5914	+0.010%	$4.7M	$12.2M	20x	as long as short
Lighter PONS	+0.0704%	1h	0.5909	−0.073%	$1.6M	$829K	3x	as long as short
BingX PONS-USDT	+0.0724%	4h	0.5914	+0.017%	—	$3.0M	—	as long as short
BloFin PONS-USDT	+0.0764%	4h	0.5918	+0.085%	$1.7M	$953K	20x	as long as short
Bybit PONSUSDT	+0.0764%	4h	0.5915	+0.034%	$17.6M	$31.4M	20x	as long as short
Phoenix PONSshort	+0.1472%	1h	0.5925	+0.203%	$45K	$127K	3x