Funding you earn now, next payment 02:00 UTC−0.1125%/8h= −123.1% APRpaid last 24h −0.299%
Price spread now: MEXC against Phoenix−0.331%107s7-day average +0.003% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−1.597%−$160 on $10k
+Price spread, last 4 days (all we have)−0.051%−$5 · spread now −0.331%, 7d avg +0.003%
=Both sides work against this trade now: funding costs −$34 a day on $10k at the current rate, and MEXC is 0.333% cheaper against Phoenix than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of +0.003%). Swap the legs. The two prices were read 107 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 | 0.5959 | 0.1639 | pay 0.0205% / 1h | 3m 34s | $31K | $98K | 3x |
| Short | MEXC PONS_USDT | 0.5939 | 0.0514 | get 0.0257% / 4h | 1h 03m | $7.5M | $4.7M | 20x |
Phoenix PONS
MEXC PONS_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$236.15
- Price spread: −0.331% → +0.003%
- −$33.35
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$276.49
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; MEXC: live order book, 4 min ago. Net counts fees only.
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 no order-book sample | — | — | — | — | — |
| Sell MEXC live order book, 4 min ago | 0.84 bp | 4.3 bp −$4 | 11.3 bp −$113 | 348.3 bp −$34.8K | doesn't fit |
Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 −0.0033% | 1h | 0.5945 | −0.237% | $235K | — | 150x | as long as short |
| Injective PONS/USDC PERP | +0.0033% | 1h | 0.5969 | +0.181% | $614 | $10K | 5.5x | as long as short |
| Popdex PONSUSDT | +0.0096% | 1h | 0.5947 | −0.196% | $21K | $435K | 20x | as long as short |
| Gate PONS_USDT | +0.0100% | 4h | 0.5944 | −0.247% | $5.2M | $6.3M | 20x | as long as short |
| ApeX Omni PONSUSDT | +0.0100% | 1h | 0.5954 | −0.076% | $33K | $351K | 5x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.0100% | 4h | 0.5955 | −0.070% | $2K | $3K | 10x | as long as short |
| SunX PONS-USDT | +0.0100% | 4h | 0.5956 | −0.039% | — | $1.3M | 10x | as long as short |
| SoDEX PONS-USD | +0.0100% | 1h | 0.5951 | −0.131% | $26K | $527K | 3x | as long as short |
| HTX PONS-USDT | +0.0100% | 4h | 0.5969 | +0.176% | $64K | $509K | 20x | as long as short |
| Phemex PONSUSDT | +0.0100% | 4h | 0.5954 | −0.079% | $1.6M | $3.2M | 20x | as long as short |
gTrade (Gains Network) PONS/USD
Injective PONS/USDC PERP
Popdex PONSUSDT
Gate PONS_USDT
ApeX Omni PONSUSDT
Orderly PERP_PONS_USDC_mythos
SunX PONS-USDT
SoDEX PONS-USD
HTX PONS-USDT
Phemex PONSUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni PONS | +0.0199% | 4h | 0.5951 | −0.124% | $1.4M | $3.9M | — | as long as short |
| Aevo PONS-PERP | +0.0208% | 1h | 0.5941 | −0.289% | $370 | — | 3x | as long as short |
| Nado PONS-PERP | +0.0242% | 1h | 0.5956 | −0.045% | $70K | $129K | 5x | as long as short |
| Lighter RH PONS | +0.0248% | 1h | 0.5945 | −0.230% | $403K | $2.5M | 3x | as long as short |
| Lighter PONS | +0.0288% | 1h | 0.5941 | −0.299% | $1.6M | $877K | 3x | as long as short |
| OKX PONS-USDT-SWAP | +0.0317% | 4h | 0.5933 | −0.431% | $13.5M | $54.4M | 20x | as long as short |
| Aster PONSUSDT | +0.0404% | 4h | 0.5941 | −0.297% | $1.1M | $2.1M | 20x | as long as short |
| Bitget PONSUSDT | +0.0426% | 4h | 0.5936 | −0.374% | $4.6M | $11.4M | 20x | as long as short |
| Bybit PONSUSDT | +0.0480% | 4h | 0.5949 | −0.163% | $17.8M | $30.7M | 20x | as long as short |
| KuCoin PONSUSDTM | +0.0484% | 4h | 0.5940 | −0.312% | $1.6M | $3.7M | 20x | as long as short |
| BingX PONS-USDT | +0.0506% | 4h | 0.5940 | −0.314% | — | $3.0M | — | as long as short |
| Extended PONS-USD | +0.0512% | 1h | 0.5938 | −0.353% | $246K | $672K | 5x | as long as short |
| MEXC PONS_USDTshort | +0.0514% | 4h | 0.5939 | −0.331% | $7.5M | $4.7M | 20x | |
| Binance PONSUSDT | +0.0515% | 4h | 0.5947 | −0.199% | $39.2M | $94.9M | 20x | as long as short |
| edgeX PONSUSDC | +0.0530% | 4h | 0.5953 | −0.104% | $18K | $293K | 10x | as long as short |
| BloFin PONS-USDT | +0.0754% | 4h | 0.5955 | −0.062% | $1.7M | $961K | 20x | as long as short |
| Pacifica PONS | +0.0755% | 1h | 0.5937 | −0.367% | $47K | $69K | 3x | as long as short |
| Hyperliquid PONS | +0.0762% | 1h | 0.5940 | −0.314% | $60.5M | $27.8M | 3x | as long as short |
| Polymarket Perps PONS-USD | +0.0850% | 1h | 0.5954 | −0.086% | $68K | $1.6M | 3x | as long as short |
| Phoenix PONSlong | +0.1639% | 1h | 0.5959 | long leg | $31K | $98K | 3x |
Variational Omni PONS
Aevo PONS-PERP
Nado PONS-PERP
Lighter RH PONS
Lighter PONS
OKX PONS-USDT-SWAP
Aster PONSUSDT
Bitget PONSUSDT
Bybit PONSUSDT
KuCoin PONSUSDTM
BingX PONS-USDT
Extended PONS-USD
Binance PONSUSDT
edgeX PONSUSDC
BloFin PONS-USDT
Pacifica PONS
Hyperliquid PONS
Polymarket Perps PONS-USD