PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1575%/8h= −172.5% APRnext payment −$1.97 per $10,000 · paid last 24h −0.406%

Price spread now: gTrade (Gains Network) against Phoenix−0.367%63s7-day average −0.139% · you buy dearer than you sell

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−$4,62246.222% of the position

Long on Phoenix Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.492%−$49 on $10k

Price spread, last 3 days (all we have)+0.274%+$27 · spread now −0.367%, 7d avg −0.139%

Together, before fees−0.217%−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$47 a day on $10k at the current rate, and gTrade (Gains Network) is 0.228% cheaper against Phoenix than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.139%). Swap the legs. 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	Phoenix PONS	0.6110	0.1608	pay 0.0201% / 1h	26m 03s	$32K	$113K	3x
Short	gTrade (Gains Network) PONS/USD	0.6087	L +0.0033% / S −0.0033%	get 0.0004% / 1h	26m 03s	$241K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Phoenix. 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 PhoenixbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.367%Rate

Funding earned: −$330.83
Price spread: −0.367% → −0.139%: −$22.81
Slippage, 4 orders: −$4,603.18
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,975.82
Costs to cover: 46.222%
Break-even: never at this rate

Slippage from Phoenix: live order book, 22 min ago; gTrade (Gains Network): virtual book (oracle venue), 48 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 Phoenix live order book, 22 min ago	3.14 bp	15.7 bp −$16	48.9 bp −$489	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 48 min ago	130.01 bp	2471.1 bp −$2,471	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/USDshort	L +0.0033% / S −0.0033%	1h	0.6087	−0.367%	$241K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.296%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6099	−0.185%	$431K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6113	+0.052%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6090	−0.324%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6116	+0.097%	$34K	$358K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6106	−0.062%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6106	−0.064%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6099	−0.177%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6106	−0.059%	$65K	$510K	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	0.6096	−0.226%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6098	−0.193%	$380	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0175%	4h	0.6095	−0.242%	$13.9M	$57.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0186%	4h	0.6100	−0.167%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0248%	4h	0.6098	−0.201%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0280%	4h	0.6101	−0.151%	$1.1M	$2.1M	20x	as long as short
MEXC PONS_USDT	+0.0366%	4h	0.6099	−0.177%	$8.0M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0368%	4h	0.6098	−0.193%	$40.0M	$96.7M	20x	as long as short
edgeX PONSUSDC	+0.0368%	4h	0.6115	+0.089%	$21K	$292K	10x	as long as short
Extended PONS-USD	+0.0368%	1h	0.6098	−0.199%	$253K	$679K	5x	as long as short
Lighter PONS	+0.0472%	1h	0.6100	−0.162%	$1.7M	$932K	3x	as long as short
BloFin PONS-USDT	+0.0608%	4h	0.6117	+0.118%	$1.8M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0608%	1h	0.6112	+0.035%	$106K	$115K	5x	as long as short
BingX PONS-USDT	+0.0648%	4h	0.6098	−0.193%	—	$3.1M	—	as long as short
Pacifica PONS	+0.0665%	1h	0.6111	+0.020%	$48K	$78K	3x	as long as short
Bybit PONSUSDT	+0.0681%	4h	0.6096	−0.226%	$18.3M	$31.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0776%	1h	0.6110	+0.008%	$44K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0886%	1h	0.6099	−0.177%	$62.0M	$29.3M	3x	as long as short
Gate PONS_USDT	+0.1050%	4h	0.6097	−0.209%	$5.3M	$6.2M	20x	as long as short
Phoenix PONSlong	+0.1608%	1h	0.6110	long leg	$32K	$113K	3x