PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0408%/8h= +44.7% APRnext payment +$2.04 per $10,000 · paid last 24h +0.108%

Price spread now: Bybit against Phemex+0.367%7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$1331.328% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.338%+$34 on $10k

Price spread, last 3 days (all we have)−0.430%−$43 · spread now +0.367%, 7d avg −0.029%

Together, before fees−0.092%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Bybit is 0.396% dearer against Phemex than usual: you sell high and buy low: +$40 more if the spread goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.6000	0.0100	pay 0.0050% / 4h	1h 56m	$1.6M	$3.2M	20x
Short	Bybit PONSUSDT	0.6022	0.0508	get 0.0254% / 4h	1h 56m	$18.0M	$30.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phemex. 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 PhemexbpFee BybitbpOrdersPrice spread, now +0.367%Rate

Funding earned: $85.78
Price spread: +0.367% → −0.029%: $39.61
Slippage, 4 orders: −$109.8
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$7.41
Costs to cover: 1.328%
Break-even: 7.6 days

Slippage from Phemex: live order book, 2 min ago; Bybit: live order book, 2 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 Phemex live order book, 2 min ago	9.13 bp	51.9 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	2.49 bp	19.2 bp −$19	35.6 bp −$356	doesn't fit	doesn't fit

PONS on 29 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 −0.0033%	1h	0.5995	−0.087%	$237K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.508%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6000	0.000%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6048	+0.799%	$1.4M	$3.9M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6042	+0.702%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6007	+0.117%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6008	+0.127%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6000	+0.008%	$26K	$519K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6007	+0.110%	$64K	$508K	20x	as long as short
Phemex PONSUSDTlong	+0.0100%	4h	0.6000	long leg	$1.6M	$3.2M	20x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0120%	1h	0.6012	+0.198%	$421K	$2.5M	3x	as long as short
Lighter PONS	+0.0136%	1h	0.6012	+0.198%	$1.7M	$871K	3x	as long as short
Aevo PONS-PERP	+0.0192%	1h	0.5998	−0.040%	$374	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0272%	4h	0.6027	+0.450%	$13.8M	$54.3M	20x	as long as short
Nado PONS-PERP	+0.0306%	1h	0.5998	−0.040%	$70K	$131K	5x	as long as short
KuCoin PONSUSDTM	+0.0332%	4h	0.6011	+0.185%	$1.7M	$3.6M	20x	as long as short
Bitget PONSUSDT	+0.0376%	4h	0.6034	+0.558%	$4.7M	$11.2M	20x	as long as short
Aster PONSUSDT	+0.0412%	4h	0.5994	−0.096%	$1.1M	$2.0M	20x	as long as short
Binance PONSUSDT	+0.0446%	4h	0.6017	+0.277%	$39.3M	$93.6M	20x	as long as short
MEXC PONS_USDT	+0.0452%	4h	0.6017	+0.283%	$7.7M	$4.6M	20x	as long as short
Extended PONS-USD	+0.0456%	1h	0.6020	+0.340%	$249K	$670K	5x	as long as short
edgeX PONSUSDC	+0.0459%	4h	0.6058	+0.959%	$21K	$293K	10x	as long as short
Polymarket Perps PONS-USD	+0.0484%	1h	0.6002	+0.035%	$47K	$1.5M	3x	as long as short
BingX PONS-USDT	+0.0506%	4h	0.6033	+0.550%	—	$3.0M	—	as long as short
Bybit PONSUSDTshort	+0.0508%	4h	0.6022	+0.367%	$18.0M	$30.3M	20x
Hyperliquid PONS	+0.0663%	1h	0.6018	+0.297%	$61.3M	$27.8M	3x	as long as short
Pacifica PONS	+0.0755%	1h	0.6016	+0.267%	$47K	$72K	3x	as long as short
Gate PONS_USDT	+0.0812%	4h	0.6014	+0.233%	$5.3M	$6.1M	20x	as long as short
Phoenix PONS	+0.1695%	1h	0.6002	+0.032%	$31K	$98K	3x	as long as short