PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0376%/8h= −41.2% APRnext payment −$1.88 per $10,000 · paid last 24h −0.052%

Price spread now: Phemex against Aster+0.128%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$990.994% of the position

Long on Aster Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 4 days (all we have)+0.161%+$16 · spread now +0.128%, 7d avg +0.058%

Together, before fees+0.037%+ Points / potential airdropAster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.069% dearer against Aster than usual: you sell high and buy low (spread +0.128% now, against its 7-day average of +0.058%): +$7 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 7 days (−0.124% in total) that is about 3.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.124% in total (about -6.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.88 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	Aster PONSUSDT	0.6002	0.0476	pay 0.0238% / 4h	3h 49m	$1.1M	$2.1M	20x
Short	Phemex PONSUSDT	0.6010	0.0100	get 0.0050% / 4h	3h 49m	$1.7M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aster. 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 AsterbpFee PhemexbpOrdersPrice spread, now +0.128%Rate

Funding earned: −$79.05
Price spread: +0.128% → +0.058%: $6.94
Slippage, 4 orders: −$79.36
Fee Aster: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$171.48
Costs to cover: 0.994%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; Phemex: live order book, 4 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 Aster live order book, 4 min ago	1.90 bp	8.1 bp −$8	30.1 bp −$301	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	3.31 bp	42.0 bp −$42	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 −0.0032%	1h	0.5994	−0.133%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.547%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6008	+0.094%	$21K	$435K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6007	+0.075%	$70K	$129K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6054	+0.854%	$35K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6011	+0.138%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6020	+0.288%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6002	−0.011%	$26K	$538K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6004	+0.034%	$65K	$513K	20x	as long as short
Phemex PONSUSDTshort	+0.0100%	4h	0.6010	+0.128%	$1.7M	$3.2M	20x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0232%	1h	0.6006	+0.061%	$374	—	3x	as long as short
Variational Omni PONS	+0.0329%	4h	0.6021	+0.310%	$1.4M	$3.9M	—	as long as short
OKX PONS-USDT-SWAP	+0.0336%	4h	0.6001	−0.022%	$13.7M	$55.4M	20x	as long as short
Lighter PONS	+0.0440%	1h	0.6005	+0.046%	$1.6M	$891K	3x	as long as short
Lighter RH PONS	+0.0472%	1h	0.6004	+0.028%	$418K	$2.5M	3x	as long as short
Aster PONSUSDTlong	+0.0476%	4h	0.6002	long leg	$1.1M	$2.1M	20x
Bitget PONSUSDT	+0.0506%	4h	0.6007	+0.074%	$4.6M	$11.6M	20x	as long as short
BingX PONS-USDT	+0.0604%	4h	0.6005	+0.044%	—	$3.0M	—	as long as short
Binance PONSUSDT	+0.0614%	4h	0.6003	+0.014%	$39.2M	$95.4M	20x	as long as short
Extended PONS-USD	+0.0616%	1h	0.6001	−0.025%	$108K	$813K	5x	as long as short
MEXC PONS_USDT	+0.0620%	4h	0.6004	+0.028%	$7.6M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0622%	4h	0.6045	+0.703%	$18K	$293K	10x	as long as short
Hyperliquid PONS	+0.0625%	1h	0.6004	+0.019%	$61.4M	$28.4M	3x	as long as short
KuCoin PONSUSDTM	+0.0702%	4h	0.6002	−0.002%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0783%	1h	0.6006	+0.054%	$73K	$1.6M	3x	as long as short
Bybit PONSUSDT	+0.0848%	4h	0.6003	+0.011%	$18.0M	$30.9M	20x	as long as short
BloFin PONS-USDT	+0.0861%	4h	0.6027	+0.411%	$1.7M	$959K	20x	as long as short
Gate PONS_USDT	+0.0914%	4h	0.5999	−0.056%	$5.2M	$6.1M	20x	as long as short
Pacifica PONS	+0.1081%	1h	0.6013	+0.186%	$47K	$67K	3x	as long as short
Phoenix PONS	+0.1586%	1h	0.6036	+0.552%	$41K	$109K	3x	as long as short