PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0140%/8h= −15.3% APRnext payment −$0.70 per $10,000 · paid last 24h +0.073%

Price spread now: BloFin against Bybit−0.175%52s7-day average +0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as 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−$760.764% of the position

Long on Bybit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.596%+$60 on $10k

Price spread, last 4 days (all we have)+0.762%+$76 · spread now −0.175%, 7d avg +0.057%

Together, before fees+1.358%+$136 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and BloFin is 0.232% cheaper against Bybit than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of +0.057%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.596%, so the current rate has only just turned against you. The two prices were read 52 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	Bybit PONSUSDT	0.6269	0.1028	pay 0.0514% / 4h	3h 24m	$18.8M	$33.2M	20x
Short	BloFin PONS-USDT	0.6258	0.0888	get 0.0444% / 4h	3h 24m	$1.8M	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Bybit. 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 BybitbpFee BloFinbpOrdersPrice spread, now −0.175%Rate

Funding earned: −$29.31
Price spread: −0.175% → +0.057%: −$23.21
Slippage, 4 orders: −$53.4
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$128.91
Costs to cover: 0.764%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; BloFin: live order book, 4 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 Bybit live order book, 4 min ago	2.41 bp	19.6 bp −$20	49.9 bp −$499	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	2.41 bp	18.9 bp −$19	41.2 bp −$412	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 +0.0032% / S −0.0030%	1h	0.6243	−0.420%	$244K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−5.272%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6261	−0.128%	$23K	$437K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6263	−0.096%	$73K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6217	−0.834%	$31K	$290K	5x	as long as short
Polymarket Perps PONS-USD	+0.0100%	1h	0.6250	−0.311%	$73K	$2.2M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6271	+0.030%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6258	−0.177%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6263	−0.096%	$27K	$628K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6281	+0.195%	$66K	$528K	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	0.6258	−0.175%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6268	−0.021%	$390	—	3x	as long as short
Hyperliquid PONS	+0.0306%	1h	0.6261	−0.134%	$64.1M	$30.4M	3x	as long as short
Lighter RH PONS	+0.0360%	1h	0.6265	−0.070%	$423K	$2.7M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0438%	4h	0.6269	0.000%	$14.4M	$60.9M	20x	as long as short
Aster PONSUSDT	+0.0450%	4h	0.6254	−0.236%	$1.1M	$2.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0480%	4h	0.6265	−0.064%	$1.7M	$4.1M	20x	as long as short
Lighter PONS	+0.0496%	1h	0.6267	−0.037%	$1.7M	$870K	3x	as long as short
Variational Omni PONS	+0.0562%	4h	0.6214	−0.873%	$1.6M	$4.5M	—	as long as short
MEXC PONS_USDT	+0.0648%	4h	0.6263	−0.096%	$8.0M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0656%	4h	0.6224	−0.720%	$21K	$291K	10x	as long as short
Extended PONS-USD	+0.0664%	1h	0.6266	−0.043%	$105K	$814K	5x	as long as short
Binance PONSUSDT	+0.0665%	4h	0.6269	0.000%	$41.2M	$103.9M	20x	as long as short
Bitget PONSUSDT	+0.0728%	4h	0.6267	−0.040%	$5.0M	$13.2M	20x	as long as short
Pacifica PONS	+0.0853%	1h	0.6255	−0.220%	$47K	$78K	3x	as long as short
BloFin PONS-USDTshort	+0.0888%	4h	0.6258	−0.175%	$1.8M	$1.1M	20x
BingX PONS-USDT	+0.0936%	4h	0.6268	−0.016%	—	$3.2M	—	as long as short
Bybit PONSUSDTlong	+0.1028%	4h	0.6269	long leg	$18.8M	$33.2M	20x
Gate PONS_USDT	+0.1180%	4h	0.6248	−0.335%	$5.4M	$6.4M	20x	as long as short
Phoenix PONS	+0.1714%	1h	0.6229	−0.646%	$47K	$159K	3x	as long as short