PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.1305%/8h= −142.9% APRnext payment −$1.63 per $10,000 · paid last 24h −0.398%

Price spread now: SoDEX against Phoenix−0.173%7-day average −0.003% · 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−$161as in the Price arb table

costs, in and out, $10k−$1441.440% of the position

Long on Phoenix Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−1.404%−$140 on $10k

Price spread, last 4 days (all we have)+0.299%+$30 · spread now −0.173%, 7d avg −0.003%

Together, before fees−1.105%−$110 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$39 a day on $10k at the current rate, and SoDEX is 0.170% cheaper against Phoenix than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix PONS	0.6231	0.1405	pay 0.0176% / 1h	36m 29s	$47K	$127K	3x
Short	SoDEX PONS-USD	0.6220	0.0100	get 0.0013% / 1h	36m 29s	$27K	$628K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.173%Rate

Funding earned: −$274.11
Price spread: −0.173% → −0.003%: −$16.99
Slippage, 4 orders: −$128.95
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$435.05
Costs to cover: 1.440%
Break-even: never at this rate

Slippage from Phoenix: live order book, 59 min ago; SoDEX: live order book, 2 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, 59 min ago	4.55 bp	20.8 bp −$21	67.5 bp −$675	doesn't fit	doesn't fit
Sell SoDEX live order book, 2 min ago	1.60 bp	61.4 bp −$61	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 +0.0032% / S −0.0029%	1h	0.6208	−0.364%	$236K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6177	−0.863%	$22K	$454K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6176	−0.887%	$72K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6285	+0.871%	$31K	$303K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6218	−0.213%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6219	−0.191%	—	$1.2M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6220	−0.173%	$27K	$628K	3x
HTX PONS-USDT	+0.0100%	4h	0.6221	−0.162%	$67K	$536K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6207	−0.382%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6218	−0.213%	$387	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PONS-USDT-SWAP	+0.0433%	4h	0.6173	−0.928%	$14.0M	$60.1M	20x	as long as short
Aster PONSUSDT	+0.0519%	4h	0.6181	−0.794%	$1.1M	$2.3M	20x	as long as short
Variational Omni PONS	+0.0520%	4h	0.6292	+0.987%	$1.5M	$4.2M	—	as long as short
KuCoin PONSUSDTM	+0.0560%	4h	0.6185	−0.729%	$1.6M	$3.9M	20x	as long as short
Pacifica PONS	+0.0572%	1h	0.6182	−0.778%	$47K	$69K	3x	as long as short
Binance PONSUSDT	+0.0597%	4h	0.6176	−0.880%	$40.6M	$103.5M	20x	as long as short
Extended PONS-USD	+0.0600%	1h	0.6183	−0.767%	$104K	$819K	5x	as long as short
MEXC PONS_USDT	+0.0600%	4h	0.6184	−0.751%	$7.8M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0627%	4h	0.6228	−0.046%	$21K	$290K	10x	as long as short
Lighter RH PONS	+0.0632%	1h	0.6186	−0.719%	$438K	$2.6M	3x	as long as short
BingX PONS-USDT	+0.0668%	4h	0.6185	−0.735%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0672%	4h	0.6167	−1.024%	$18.6M	$32.6M	20x	as long as short
Bitget PONSUSDT	+0.0706%	4h	0.6179	−0.831%	$4.8M	$12.8M	20x	as long as short
Hyperliquid PONS	+0.0747%	1h	0.6185	−0.730%	$62.9M	$30.3M	3x	as long as short
Lighter PONS	+0.0784%	1h	0.6189	−0.671%	$1.7M	$847K	3x	as long as short
BloFin PONS-USDT	+0.0841%	4h	0.6224	−0.109%	$1.8M	$1.0M	20x	as long as short
Gate PONS_USDT	+0.0854%	4h	0.6180	−0.815%	$5.4M	$6.4M	20x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−4.691%	$610	$10K	5.5x	as long as short
Polymarket Perps PONS-USD	+0.1298%	1h	0.6215	−0.257%	$68K	$2.2M	3x	as long as short
Phoenix PONSlong	+0.1405%	1h	0.6231	long leg	$47K	$127K	3x