PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1619%/8h= +177.3% APRnext payment +$2.02 per $10,000 · paid last 24h +0.393%

Price spread now: Phoenix against ApeX Omni+1.056%7-day average −0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs+$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$1641.640% of the position

Long on ApeX Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+2.066%+$207 on $10k

Price spread, last 4 days (all we have)−1.144%−$114 · spread now +1.056%, 7d avg −0.096%

Together, before fees+0.922%+$92 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$49 a day on $10k at the current rate, and Phoenix is 1.152% dearer against ApeX Omni than usual: you sell high and buy low: +$115 more if the spread goes back to its 7-day average of −0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PONSUSDT	0.5873	0.0100	pay 0.0013% / 1h	30m 14s	$29K	$332K	5x
Short	Phoenix PONS	0.5935	0.1719	get 0.0215% / 1h	30m 14s	$45K	$121K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against ApeX Omni. 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 ApeX OmnibpFee PhoenixbpOrdersPrice spread, now +1.056%Rate

Funding earned: $340.06
Price spread: +1.056% → −0.096%: $115.19
Slippage, 4 orders: −$147.04
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $291.21
Costs to cover: 1.640%
Break-even: 1.0 days

Slippage from ApeX Omni: live order book, 17 min ago; Phoenix: live order book, 10 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 ApeX Omni live order book, 17 min ago	32.31 bp	54.6 bp −$55	130.2 bp −$1,302	doesn't fit	doesn't fit
Sell Phoenix live order book, 10 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	0.5879	+0.088%	$234K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.636%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5887	+0.225%	$411K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5890	+0.283%	$21K	$418K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5886	+0.213%	$69K	$130K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5888	+0.249%	$5.2M	$6.2M	20x	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.5873	long leg	$29K	$332K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5893	+0.329%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5884	+0.180%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5889	+0.259%	$25K	$547K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDT	+0.0100%	4h	0.5895	+0.368%	$64K	$513K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5898	+0.419%	$1.6M	$3.2M	20x	as long as short
Hyperliquid PONS	+0.0228%	1h	0.5887	+0.223%	$60.0M	$29.2M	3x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5886	+0.222%	$367	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0375%	4h	0.5888	+0.249%	$13.3M	$54.5M	20x	as long as short
Aster PONSUSDT	+0.0470%	4h	0.5888	+0.246%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0544%	1h	0.5891	+0.295%	$1.6M	$887K	3x	as long as short
Bitget PONSUSDT	+0.0574%	4h	0.5890	+0.291%	$4.6M	$11.9M	20x	as long as short
Variational Omni PONS	+0.0594%	4h	0.5889	+0.259%	$1.4M	$4.1M	—	as long as short
MEXC PONS_USDT	+0.0598%	4h	0.5890	+0.283%	$7.4M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0599%	4h	0.5892	+0.317%	$38.4M	$94.9M	20x	as long as short
Extended PONS-USD	+0.0600%	1h	0.5889	+0.273%	$100K	$812K	5x	as long as short
edgeX PONSUSDC	+0.0621%	4h	0.5885	+0.191%	$20K	$296K	10x	as long as short
Pacifica PONS	+0.0715%	1h	0.5887	+0.239%	$46K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0736%	4h	0.5887	+0.233%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0800%	1h	0.5888	+0.254%	$109K	$1.7M	3x	as long as short
BingX PONS-USDT	+0.0826%	4h	0.5890	+0.283%	—	$3.0M	—	as long as short
BloFin PONS-USDT	+0.0839%	4h	0.5885	+0.198%	$1.7M	$939K	20x	as long as short
Bybit PONSUSDT	+0.0874%	4h	0.5890	+0.283%	$17.6M	$31.0M	20x	as long as short
Phoenix PONSshort	+0.1719%	1h	0.5935	+1.056%	$45K	$121K	3x