PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0247%/8h= −27.0% APRnext payment −$1.23 per $10,000 · paid last 24h −0.072%

Price spread now: MEXC against BloFin−0.303%109s7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as 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−$420.415% of the position

Long on BloFin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.504%−$50 on $10k

Price spread, last 4 days (all we have)+0.193%+$19 · spread now −0.303%, 7d avg −0.032%

Together, before fees−0.310%−$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and MEXC is 0.271% cheaper against BloFin than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.032%). Swap the legs. The two prices were read 109 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	0.5942	0.0747	pay 0.0373% / 4h	1h 19m	$1.7M	$946K	20x
Short	MEXC PONS_USDT	0.5924	0.0500	get 0.0250% / 4h	1h 19m	$7.5M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.303%Rate

Funding earned: −$51.81
Price spread: −0.303% → −0.032%: −$27.07
Slippage, 4 orders: −$29.54
Fee BloFin: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$120.42
Costs to cover: 0.415%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; MEXC: 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, 3 min ago	1.68 bp	20.1 bp −$20	47.8 bp −$478	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.84 bp	4.3 bp −$4	11.4 bp −$114	338.5 bp −$33.9K	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 +0.0032% / S −0.0030%	1h	0.5934	−0.143%	$243K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.463%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5930	−0.197%	$413K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5927	−0.252%	$22K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5930	−0.209%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5929	−0.211%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5933	−0.155%	$29K	$314K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5926	−0.271%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5925	−0.295%	$26K	$583K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5957	+0.259%	$65K	$525K	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	0.5928	−0.236%	$1.6M	$3.2M	20x	as long as short
Hyperliquid PONS	+0.0181%	1h	0.5924	−0.301%	$60.2M	$29.5M	3x	as long as short
Aevo PONS-PERP	+0.0200%	1h	0.5925	−0.286%	$369	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0405%	4h	0.5922	−0.337%	$13.4M	$55.5M	20x	as long as short
Aster PONSUSDT	+0.0457%	4h	0.5925	−0.283%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDTshort	+0.0500%	4h	0.5924	−0.303%	$7.5M	$4.7M	20x
Binance PONSUSDT	+0.0501%	4h	0.5924	−0.297%	$37.3M	$98.2M	20x	as long as short
Extended PONS-USD	+0.0504%	1h	0.5920	−0.366%	$101K	$808K	5x	as long as short
edgeX PONSUSDC	+0.0527%	4h	0.5951	+0.159%	$20K	$291K	10x	as long as short
Polymarket Perps PONS-USD	+0.0541%	1h	0.5926	−0.273%	$92K	$1.9M	3x	as long as short
Pacifica PONS	+0.0556%	1h	0.5927	−0.259%	$45K	$68K	3x	as long as short
Variational Omni PONS	+0.0577%	4h	0.5938	−0.068%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0604%	4h	0.5924	−0.300%	$1.6M	$3.8M	20x	as long as short
Bitget PONSUSDT	+0.0674%	4h	0.5926	−0.269%	$4.7M	$12.2M	20x	as long as short
BingX PONS-USDT	+0.0692%	4h	0.5925	−0.286%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0715%	4h	0.5921	−0.353%	$17.6M	$31.3M	20x	as long as short
BloFin PONS-USDTlong	+0.0747%	4h	0.5942	long leg	$1.7M	$946K	20x
Gate PONS_USDT	+0.0828%	4h	0.5925	−0.286%	$5.3M	$6.3M	20x	as long as short
Lighter PONS	+0.0904%	1h	0.5931	−0.187%	$1.6M	$832K	3x	as long as short
Phoenix PONS	+0.1472%	1h	0.5949	+0.113%	$45K	$127K	3x	as long as short