Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against SunX−0.015%7-day average −0.041% · you buy dearer than you sell

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

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.486%−$49 · spread now −0.015%, 7d avg −0.041%

Together, before fees−0.470%−$47 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.026% dearer against SunX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PONS-USDT	0.5993	0.0100	pay 0.0050% / 4h	1h 42m	—	$1.3M	10x
Short	Phemex PONSUSDT	0.5992	0.0100	get 0.0050% / 4h	1h 42m	$1.6M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SunX. 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 SunXbpFee PhemexbpOrdersPrice spread, now −0.015%Rate

Funding earned: $0
Price spread: −0.015% → −0.041%: $2.59
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$17.41
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 2 min ago; Phemex: live order book, 2 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 SunX live order book, 2 min ago	104.62 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	7.50 bp	40.5 bp −$41	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 −0.0033%	1h	0.5982	−0.175%	$237K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.390%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6002	+0.152%	$20K	$424K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5979	−0.235%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5996	+0.047%	$2K	$3K	10x	as long as short
SunX PONS-USDTlong	+0.0100%	4h	0.5993	long leg	—	$1.3M	10x
SoDEX PONS-USD	+0.0100%	1h	0.5992	−0.017%	$26K	$516K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6004	+0.192%	$64K	$507K	20x	as long as short
Phemex PONSUSDTshort	+0.0100%	4h	0.5992	−0.015%	$1.6M	$3.2M	20x
Variational Omni PONS	+0.0105%	4h	0.5961	−0.533%	$1.4M	$3.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0120%	1h	0.5992	−0.017%	$419K	$2.5M	3x	as long as short
Lighter PONS	+0.0184%	1h	0.5992	−0.017%	$1.7M	$874K	3x	as long as short
Aevo PONS-PERP	+0.0200%	1h	0.5994	+0.012%	$373	—	3x	as long as short
Nado PONS-PERP	+0.0241%	1h	0.5999	+0.110%	$70K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0286%	4h	0.5991	−0.032%	$13.7M	$54.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0348%	4h	0.5995	+0.032%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0388%	4h	0.5993	+0.008%	$4.7M	$11.2M	20x	as long as short
Aster PONSUSDT	+0.0429%	4h	0.5991	−0.032%	$1.1M	$2.0M	20x	as long as short
Gate PONS_USDT	+0.0460%	4h	0.5991	−0.032%	$5.2M	$6.2M	20x	as long as short
MEXC PONS_USDT	+0.0470%	4h	0.5992	−0.015%	$7.6M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0479%	4h	0.5984	−0.146%	$18K	$295K	10x	as long as short
Binance PONSUSDT	+0.0479%	4h	0.5989	−0.062%	$39.2M	$93.8M	20x	as long as short
Extended PONS-USD	+0.0480%	1h	0.5991	−0.025%	$248K	$670K	5x	as long as short
BingX PONS-USDT	+0.0480%	4h	0.5994	+0.018%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0491%	4h	0.5986	−0.115%	$17.9M	$30.3M	20x	as long as short
BloFin PONS-USDT	+0.0711%	4h	0.6008	+0.252%	$1.8M	$957K	20x	as long as short
Hyperliquid PONS	+0.0717%	1h	0.5991	−0.028%	$61.1M	$27.8M	3x	as long as short
Pacifica PONS	+0.0755%	1h	0.6006	+0.212%	$47K	$72K	3x	as long as short
Polymarket Perps PONS-USD	+0.0793%	1h	0.5996	+0.053%	$49K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.5984	−0.150%	$31K	$98K	3x	as long as short