PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0687%/8h= −75.3% APRnext payment −$0.86 per $10,000 · paid last 24h −0.160%

Price spread now: SoDEX against Hyperliquid+0.012%7-day average −0.012% · 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−$150as in the Price arb table

costs, in and out, $10k−$1521.523% of the position

Long on Hyperliquid Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.360%−$36 on $10k

Price spread, last 4 days (all we have)+0.242%+$24 · spread now +0.012%, 7d avg −0.012%

Together, before fees−0.118%+ Points / potential airdropHyperliquid: Season 2 · farm board−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.024% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.012% now, against its 7-day average of −0.012%): +$2 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PONS	0.6056	0.0787	pay 0.0098% / 1h	21m 17s	$61.9M	$28.2M	3x
Short	SoDEX PONS-USD	0.6057	0.0100	get 0.0013% / 1h	21m 17s	$26K	$534K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Hyperliquid. 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 HyperliquidbpFee SoDEXbpOrdersPrice spread, now +0.012%Rate

Funding earned: −$144.36
Price spread: +0.012% → −0.012%: $2.37
Slippage, 4 orders: −$135.31
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$294.3
Costs to cover: 1.523%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; SoDEX: live order book, 37 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 Hyperliquid live order book, 12 min ago	3.09 bp	7.6 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX live order book, 37 min ago	1.01 bp	71.7 bp −$72	doesn't fit	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	0.6041	−0.246%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.433%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6052	−0.071%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6027	−0.479%	$35K	$348K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6060	+0.064%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6055	−0.018%	—	$1.3M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6057	+0.012%	$26K	$534K	3x
HTX PONS-USDT	+0.0100%	4h	0.6065	+0.142%	$66K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6035	−0.352%	$1.7M	$3.2M	20x	as long as short
Gate PONS_USDT	+0.0166%	4h	0.6049	−0.121%	$5.3M	$6.3M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0232%	1h	0.6055	−0.023%	$377	—	3x	as long as short
Variational Omni PONS	+0.0242%	4h	0.6026	−0.494%	$1.4M	$4.0M	—	as long as short
Nado PONS-PERP	+0.0285%	1h	0.6050	−0.104%	$71K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0326%	4h	0.6051	−0.088%	$13.7M	$55.6M	20x	as long as short
Lighter PONS	+0.0344%	1h	0.6053	−0.054%	$1.7M	$884K	3x	as long as short
Bybit PONSUSDT	+0.0462%	4h	0.6053	−0.054%	$18.0M	$30.8M	20x	as long as short
Aster PONSUSDT	+0.0478%	4h	0.6055	−0.030%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0478%	4h	0.6056	−0.003%	$4.6M	$11.5M	20x	as long as short
Lighter RH PONS	+0.0504%	1h	0.6054	−0.040%	$410K	$2.5M	3x	as long as short
BingX PONS-USDT	+0.0570%	4h	0.6054	−0.038%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0598%	4h	0.6053	−0.054%	$7.7M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0600%	1h	0.6053	−0.048%	$108K	$812K	5x	as long as short
Binance PONSUSDT	+0.0601%	4h	0.6054	−0.038%	$39.6M	$95.1M	20x	as long as short
edgeX PONSUSDC	+0.0605%	4h	0.6041	−0.258%	$18K	$292K	10x	as long as short
KuCoin PONSUSDTM	+0.0666%	4h	0.6049	−0.112%	$1.7M	$3.8M	20x	as long as short
Hyperliquid PONSlong	+0.0787%	1h	0.6056	long leg	$61.9M	$28.2M	3x
BloFin PONS-USDT	+0.0841%	4h	0.6046	−0.170%	$1.7M	$960K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.6055	−0.020%	$48K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0896%	1h	0.6054	−0.033%	$73K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6049	−0.127%	$31K	$104K	3x	as long as short