PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1439%/8h= +157.6% APRnext payment +$1.80 per $10,000 · paid last 24h +0.419%

Price spread now: Phoenix against gTrade (Gains Network)+0.214%63s7-day average +0.149% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$4,62946.289% of the position

Long on gTrade (Gains Network)Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.619%+$62 on $10k

Price spread, last 4 days (all we have)−0.121%−$12 · spread now +0.214%, 7d avg +0.149%

Together, before fees+0.497%+$50 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$43 a day on $10k at the current rate, and Phoenix is 0.066% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.149%. The two prices were read 63 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	gTrade (Gains Network) PONS/USD	0.5899	L +0.0033% / S −0.0032%	pay 0.0004% / 1h	46m 03s	$234K	—	150x
Short	Phoenix PONS	0.5912	0.1472	get 0.0184% / 1h	46m 03s	$45K	$127K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhoenixbpOrdersPrice spread, now +0.214%Rate

Funding earned: $302.29
Price spread: +0.214% → +0.149%: $6.55
Slippage, 4 orders: −$4,609.9
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$4,320.06
Costs to cover: 46.289%
Break-even: 107.0 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 63 min ago; Phoenix: live order book, 54 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 gTrade (Gains Network) virtual book (oracle venue), 63 min ago	130.01 bp	2119.4 bp −$2,119	16868.4 bp −$168.7K	doesn't fit	doesn't fit
Sell Phoenix live order book, 54 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/USDlong	L +0.0033% / S −0.0032%	1h	0.5899	long leg	$234K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.192%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5907	+0.136%	$404K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5907	+0.133%	$21K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5913	+0.226%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5907	+0.126%	$69K	$131K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5908	+0.148%	$29K	$320K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5910	+0.177%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5908	+0.143%	$25K	$586K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5913	+0.241%	$64K	$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	0.5906	+0.116%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0216%	1h	0.5908	+0.158%	$368	—	3x	as long as short
Gate PONS_USDT	+0.0272%	4h	0.5905	+0.099%	$5.3M	$6.3M	20x	as long as short
Hyperliquid PONS	+0.0296%	1h	0.5908	+0.146%	$60.0M	$29.6M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0414%	4h	0.5912	+0.217%	$13.4M	$55.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0450%	1h	0.5907	+0.140%	$91K	$1.9M	3x	as long as short
Aster PONSUSDT	+0.0466%	4h	0.5907	+0.138%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0552%	1h	0.5907	+0.129%	$101K	$811K	5x	as long as short
MEXC PONS_USDT	+0.0552%	4h	0.5911	+0.201%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0554%	4h	0.5908	+0.151%	$37.2M	$98.6M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5908	+0.152%	$45K	$68K	3x	as long as short
edgeX PONSUSDC	+0.0571%	4h	0.5914	+0.254%	$20K	$295K	10x	as long as short
Variational Omni PONS	+0.0644%	4h	0.5912	+0.209%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0652%	4h	0.5912	+0.219%	$1.6M	$3.8M	20x	as long as short
Bitget PONSUSDT	+0.0660%	4h	0.5913	+0.241%	$4.7M	$12.2M	20x	as long as short
BloFin PONS-USDT	+0.0794%	4h	0.5912	+0.217%	$1.7M	$958K	20x	as long as short
Lighter PONS	+0.0800%	1h	0.5910	+0.184%	$1.6M	$828K	3x	as long as short
BingX PONS-USDT	+0.0806%	4h	0.5904	+0.082%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0816%	4h	0.5909	+0.167%	$17.6M	$31.4M	20x	as long as short
Phoenix PONSshort	+0.1472%	1h	0.5912	+0.214%	$45K	$127K	3x