PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1512%/8h= −165.6% APRnext payment −$1.89 per $10,000 · paid last 24h −0.388%

Price spread now: Popdex against Phoenix−0.029%7-day average +0.013% · 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−$171as in the Price arb table

costs, in and out, $10k−$1671.667% of the position

Long on Phoenix Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−1.354%−$135 on $10k

Price spread, last 3 days (all we have)+0.029%+$3 · spread now −0.029%, 7d avg +0.013%

Together, before fees−1.324%−$132 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$45 a day on $10k at the current rate, and Popdex is 0.042% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.013%). Swap the legs.

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	28m 50s	$32K	$113K	3x
Short	Popdex PONSUSDT	0.6108	0.0096	get 0.0012% / 1h	28m 50s	$20K	$415K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.029%Rate

Funding earned: −$317.51
Price spread: −0.029% → +0.013%: −$4.24
Slippage, 4 orders: −$153.32
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$488.48
Costs to cover: 1.667%
Break-even: never at this rate

Slippage from Phoenix: live order book, 19 min ago; Popdex: live order book, 45 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, 19 min ago	3.14 bp	15.7 bp −$16	48.9 bp −$489	doesn't fit	doesn't fit
Sell Popdex live order book, 45 min ago	3.69 bp	70.4 bp −$70	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/USD	L +0.0033% / S −0.0033%	1h	0.6098	−0.197%	$242K	—	150x	as long as short
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	0.6108	−0.031%	$432K	$2.6M	3x	as long as short
Popdex PONSUSDTshort	+0.0096%	1h	0.6108	−0.029%	$20K	$415K	20x
Variational Omni PONS	+0.0100%	4h	0.6105	−0.086%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6102	−0.128%	$33K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6115	+0.079%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6104	−0.098%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6110	0.000%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6122	+0.198%	$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	0.6106	−0.062%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6112	+0.036%	$381	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0170%	4h	0.6127	+0.282%	$13.9M	$57.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0182%	4h	0.6120	+0.167%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0238%	4h	0.6128	+0.296%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0257%	4h	0.6117	+0.125%	$1.1M	$2.1M	20x	as long as short
edgeX PONSUSDC	+0.0344%	4h	0.6106	−0.063%	$21K	$294K	10x	as long as short
MEXC PONS_USDT	+0.0348%	4h	0.6122	+0.200%	$8.0M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0352%	1h	0.6120	+0.162%	$253K	$679K	5x	as long as short
Binance PONSUSDT	+0.0353%	4h	0.6123	+0.218%	$40.1M	$96.7M	20x	as long as short
Lighter PONS	+0.0472%	1h	0.6111	+0.018%	$1.7M	$926K	3x	as long as short
BloFin PONS-USDT	+0.0593%	4h	0.6107	−0.046%	$1.8M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0611%	1h	0.6108	−0.030%	$105K	$115K	5x	as long as short
Pacifica PONS	+0.0665%	1h	0.6106	−0.064%	$48K	$78K	3x	as long as short
Bybit PONSUSDT	+0.0681%	4h	0.6125	+0.249%	$18.4M	$30.9M	20x	as long as short
BingX PONS-USDT	+0.0682%	4h	0.6126	+0.265%	—	$3.1M	—	as long as short
Polymarket Perps PONS-USD	+0.0764%	1h	0.6109	−0.021%	$44K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0902%	1h	0.6118	+0.137%	$62.2M	$29.2M	3x	as long as short
Gate PONS_USDT	+0.0906%	4h	0.6113	+0.052%	$5.3M	$6.2M	20x	as long as short
Phoenix PONSlong	+0.1608%	1h	0.6110	long leg	$32K	$113K	3x