PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0594%/8h= −65.0% APRnext payment −$2.97 per $10,000 · paid last 24h −0.095%

Price spread now: Phemex against Bitget−0.549%46s7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$157as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1141.143% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.427%−$43 on $10k

Price spread, last 4 days (all we have)+1.113%+$111 · spread now −0.549%, 7d avg −0.025%

Together, before fees+0.686%+$69 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Phemex is 0.523% cheaper against Bitget than usual: you would sell low and buy high (−$52 if the spread goes back to its 7-day average of −0.025%). Swap the legs. The two prices were read 46 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	Bitget PONSUSDT	0.6215	0.0694	pay 0.0347% / 4h	3h 48m	$4.9M	$13.2M	20x
Short	Phemex PONSUSDT	0.6181	0.0100	get 0.0050% / 4h	3h 48m	$1.7M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now −0.549%Rate

Funding earned: −$124.74
Price spread: −0.549% → −0.025%: −$52.35
Slippage, 4 orders: −$90.33
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$291.41
Costs to cover: 1.143%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Phemex: live order book, 5 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 Bitget live order book, 5 min ago	2.01 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	4.83 bp	32.8 bp −$33	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 −0.0030%	1h	0.6180	−0.570%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−4.450%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6211	−0.066%	$23K	$437K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6205	−0.155%	$73K	$129K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6214	−0.018%	$31K	$294K	5x	as long as short
Polymarket Perps PONS-USD	+0.0100%	1h	0.6196	−0.307%	$72K	$2.3M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6191	−0.385%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6186	−0.470%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6181	−0.541%	$26K	$614K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6194	−0.339%	$66K	$528K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDTshort	+0.0100%	4h	0.6181	−0.549%	$1.7M	$3.2M	20x
Lighter RH PONS	+0.0176%	1h	0.6185	−0.492%	$421K	$2.7M	3x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6187	−0.452%	$385	—	3x	as long as short
Hyperliquid PONS	+0.0332%	1h	0.6179	−0.587%	$63.2M	$30.8M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0387%	4h	0.6213	−0.034%	$14.1M	$61.0M	20x	as long as short
Aster PONSUSDT	+0.0429%	4h	0.6189	−0.425%	$1.1M	$2.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0480%	4h	0.6183	−0.515%	$1.6M	$4.0M	20x	as long as short
Variational Omni PONS	+0.0532%	4h	0.6223	+0.127%	$1.6M	$4.3M	—	as long as short
Extended PONS-USD	+0.0616%	1h	0.6186	−0.471%	$104K	$828K	5x	as long as short
Binance PONSUSDT	+0.0617%	4h	0.6196	−0.303%	$40.6M	$104.4M	20x	as long as short
MEXC PONS_USDT	+0.0618%	4h	0.6189	−0.420%	$7.9M	$4.6M	20x	as long as short
edgeX PONSUSDC	+0.0621%	4h	0.6216	+0.008%	$20K	$291K	10x	as long as short
Bitget PONSUSDTlong	+0.0694%	4h	0.6215	long leg	$4.9M	$13.2M	20x
Pacifica PONS	+0.0853%	1h	0.6185	−0.487%	$47K	$77K	3x	as long as short
BloFin PONS-USDT	+0.0859%	4h	0.6201	−0.227%	$1.8M	$1.1M	20x	as long as short
Gate PONS_USDT	+0.0870%	4h	0.6185	−0.484%	$5.4M	$6.3M	20x	as long as short
Lighter PONS	+0.0952%	1h	0.6186	−0.462%	$1.7M	$867K	3x	as long as short
Bybit PONSUSDT	+0.1135%	4h	0.6216	+0.014%	$18.7M	$33.2M	20x	as long as short
BingX PONS-USDT	+0.1230%	4h	0.6195	−0.323%	—	$3.3M	—	as long as short
Phoenix PONS	+0.1714%	1h	0.6194	−0.346%	$47K	$159K	3x	as long as short