PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0327%/8h= −35.8% APRnext payment −$1.64 per $10,000 · paid last 24h −0.021%

Price spread now: Bybit against BloFin−0.267%82s7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

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

costs, in and out, $10k−$630.634% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.600%−$60 on $10k

Price spread, last 3 days (all we have)−0.020%−$2 · spread now −0.267%, 7d avg −0.079%

Together, before fees−0.620%−$62 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bybit is 0.188% cheaper against BloFin than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.079%). Swap the legs. The two prices were read 82 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	BloFin PONS-USDT	0.5992	0.0427	pay 0.0214% / 4h	1h 15m	$1.7M	$982K	20x
Short	Bybit PONSUSDT	0.5976	0.0100	get 0.0050% / 4h	1h 15m	$17.9M	$31.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now −0.267%Rate

Funding earned: −$68.71
Price spread: −0.267% → −0.079%: −$18.78
Slippage, 4 orders: −$40.42
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$150.92
Costs to cover: 0.634%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Bybit: live order book, 3 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 BloFin live order book, 2 min ago	1.67 bp	16.3 bp −$16	36.1 bp −$361	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.83 bp	15.4 bp −$15	43.6 bp −$436	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 −0.0036%	1h	0.5976	−0.269%	$224K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.376%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5987	−0.083%	$20K	$439K	20x	as long as short
Bybit PONSUSDTshort	+0.0100%	4h	0.5976	−0.267%	$17.9M	$31.5M	20x
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5978	−0.234%	$13.5M	$56.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5980	−0.204%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5984	−0.142%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5988	−0.071%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5993	+0.012%	$35K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5990	−0.035%	$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	0.5988	−0.058%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5981	−0.184%	$27K	$545K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5997	+0.083%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5977	−0.250%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5987	−0.083%	$373	—	3x	as long as short
Aster PONSUSDT	+0.0137%	4h	0.5981	−0.182%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0184%	1h	0.5979	−0.218%	$248K	$667K	5x	as long as short
Binance PONSUSDT	+0.0185%	4h	0.5980	−0.200%	$38.9M	$97.7M	20x	as long as short
MEXC PONS_USDT	+0.0186%	4h	0.5978	−0.234%	$7.7M	$4.9M	20x	as long as short
BingX PONS-USDT	+0.0192%	4h	0.5974	−0.300%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0192%	4h	0.5985	−0.120%	$21K	$293K	10x	as long as short
Nado PONS-PERP	+0.0222%	1h	0.5986	−0.100%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0304%	1h	0.5980	−0.195%	$422K	$2.7M	3x	as long as short
BloFin PONS-USDTlong	+0.0427%	4h	0.5992	long leg	$1.7M	$982K	20x
Pacifica PONS	+0.0451%	1h	0.5986	−0.102%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0485%	1h	0.5985	−0.122%	$37K	$1.7M	3x	as long as short
Lighter PONS	+0.0648%	1h	0.5980	−0.199%	$1.7M	$999K	3x	as long as short
Hyperliquid PONS	+0.0684%	1h	0.5979	−0.217%	$60.4M	$30.2M	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.5991	−0.015%	$30K	$96K	3x	as long as short
Gate PONS_USDT	+0.1402%	4h	0.5978	−0.234%	$5.2M	$6.5M	20x	as long as short