PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.2286%/8h= +250.3% APRnext payment +$11.43 per $10,000 · paid last 24h +0.094%

Price spread now: Gate against Phemex−0.082%7-day average −0.057% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1411.406% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.417%+$42 on $10k

Price spread, last 3 days (all we have)−0.157%−$16 · spread now −0.082%, 7d avg −0.057%

Together, before fees+0.260%+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.024% cheaper against Phemex than usual: you would sell low and buy high (spread −0.082% now, against its 7-day average of −0.057%). If the spread goes back, that is −$2 on $10k: about under an hour of funding at the current rate (+$69 a day). At the pace of the last 7 days (+0.417% in total) that is about 10 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.417% in total (about 21.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$11.43 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.6116	0.0100	pay 0.0050% / 4h	25m 12s	$1.7M	$3.3M	20x
Short	Gate PONS_USDT	0.6111	0.2386	get 0.1193% / 4h	25m 12s	$5.4M	$6.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.082%Rate

Funding earned: $480.06
Price spread: −0.082% → −0.057%: −$2.43
Slippage, 4 orders: −$113.65
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $336.98
Costs to cover: 1.406%
Break-even: 2.1 days

Slippage from Phemex: live order book, 3 min ago; Gate: 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 Phemex live order book, 3 min ago	5.71 bp	45.0 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	0.82 bp	24.0 bp −$24	59.1 bp −$591	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.395%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6109	−0.115%	$242K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6115	−0.016%	$429K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6117	+0.016%	$20K	$435K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6114	−0.029%	$88K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6119	+0.049%	$18.4M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6119	+0.049%	$13.9M	$58.1M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6129	+0.217%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6144	+0.456%	$34K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6120	+0.065%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.6119	+0.054%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6118	+0.025%	$28K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6129	+0.211%	$65K	$509K	20x	as long as short
Phemex PONSUSDTlong	+0.0100%	4h	0.6116	long leg	$1.7M	$3.3M	20x
KuCoin PONSUSDTM	+0.0122%	4h	0.6114	−0.026%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0146%	4h	0.6122	+0.095%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0160%	1h	0.6116	−0.002%	$381	—	3x	as long as short
Aster PONSUSDT	+0.0162%	4h	0.6113	−0.055%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0288%	1h	0.6118	+0.029%	$1.7M	$923K	3x	as long as short
MEXC PONS_USDT	+0.0300%	4h	0.6117	+0.016%	$8.1M	$4.9M	20x	as long as short
Extended PONS-USD	+0.0304%	1h	0.6115	−0.022%	$253K	$682K	5x	as long as short
Binance PONSUSDT	+0.0306%	4h	0.6117	+0.016%	$40.1M	$98.6M	20x	as long as short
BingX PONS-USDT	+0.0306%	4h	0.6118	+0.033%	—	$3.0M	—	as long as short
edgeX PONSUSDC	+0.0308%	4h	0.6133	+0.276%	$21K	$292K	10x	as long as short
BloFin PONS-USDT	+0.0546%	4h	0.6114	−0.033%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0658%	1h	0.6118	+0.026%	$42K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0872%	1h	0.6118	+0.034%	$62.2M	$30.5M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6114	−0.026%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6121	+0.075%	$31K	$102K	3x	as long as short
Gate PONS_USDTshort	+0.2386%	4h	0.6111	−0.082%	$5.4M	$6.3M	20x