PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0538%/8h= +58.9% APRnext payment +$2.69 per $10,000 · paid last 24h +0.080%

Price spread now: KuCoin against Phemex+0.029%50s7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as 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−$1381.381% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.267%+$27 on $10k

Price spread, last 4 days (all we have)−0.083%−$8 · spread now +0.029%, 7d avg −0.025%

Together, before fees+0.184%+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and KuCoin is 0.053% dearer against Phemex than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.025%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.267% in total (about 13.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.69 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	0.5920	0.0100	pay 0.0050% / 4h	1h 41m	$1.6M	$3.2M	20x
Short	KuCoin PONSUSDTM	0.5922	0.0638	get 0.0319% / 4h	1h 41m	$1.6M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.029%Rate

Funding earned: $112.98
Price spread: +0.029% → −0.025%: $5.34
Slippage, 4 orders: −$114.1
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$19.78
Costs to cover: 1.381%
Break-even: 8.2 days

Slippage from Phemex: live order book, 2 min ago; KuCoin: live order book, 6 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	0.84 bp	35.5 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	2.03 bp	33.8 bp −$34	116.6 bp −$1,166	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	0.5916	−0.071%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.836%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5921	+0.010%	$411K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5921	+0.017%	$22K	$421K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5926	+0.100%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5918	−0.034%	$69K	$131K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5925	+0.084%	$29K	$320K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5925	+0.090%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5921	+0.019%	$26K	$586K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5924	+0.071%	$65K	$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 PONSUSDTlong	+0.0100%	4h	0.5920	long leg	$1.6M	$3.2M	20x
Aevo PONS-PERP	+0.0216%	1h	0.5922	+0.031%	$369	—	3x	as long as short
Hyperliquid PONS	+0.0269%	1h	0.5920	+0.008%	$60.1M	$29.6M	3x	as long as short
Gate PONS_USDT	+0.0328%	4h	0.5920	0.000%	$5.3M	$6.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0419%	4h	0.5918	−0.034%	$13.3M	$55.9M	20x	as long as short
Aster PONSUSDT	+0.0467%	4h	0.5923	+0.046%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0470%	1h	0.5921	+0.014%	$94K	$1.9M	3x	as long as short
Binance PONSUSDT	+0.0541%	4h	0.5921	+0.017%	$37.2M	$98.5M	20x	as long as short
Extended PONS-USD	+0.0544%	1h	0.5920	−0.005%	$101K	$811K	5x	as long as short
MEXC PONS_USDT	+0.0544%	4h	0.5921	+0.017%	$7.5M	$4.7M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5921	+0.022%	$45K	$68K	3x	as long as short
edgeX PONSUSDC	+0.0565%	4h	0.5926	+0.105%	$20K	$296K	10x	as long as short
Variational Omni PONS	+0.0631%	4h	0.5904	−0.262%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTMshort	+0.0638%	4h	0.5922	+0.029%	$1.6M	$3.8M	20x
Bitget PONSUSDT	+0.0668%	4h	0.5924	+0.071%	$4.7M	$12.2M	20x	as long as short
Lighter PONS	+0.0744%	1h	0.5924	+0.068%	$1.6M	$828K	3x	as long as short
BingX PONS-USDT	+0.0756%	4h	0.5917	−0.051%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0777%	4h	0.5919	−0.017%	$17.6M	$31.4M	20x	as long as short
BloFin PONS-USDT	+0.0792%	4h	0.5919	−0.017%	$1.7M	$958K	20x	as long as short
Phoenix PONS	+0.1472%	1h	0.5925	+0.084%	$45K	$127K	3x	as long as short