PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0046%/8h= −5.0% APRnext payment −$0.23 per $10,000 · paid last 24h −0.073%

Price spread now: Bybit against BloFin−0.342%52s7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$128as 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−$680.681% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.596%−$60 on $10k

Price spread, last 4 days (all we have)+0.153%+$15 · spread now −0.342%, 7d avg −0.053%

Together, before fees−0.443%−$44 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.289% cheaper against BloFin than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of −0.053%). Swap the legs. The two prices were read 52 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	BloFin PONS-USDT	0.6436	0.0801	pay 0.0401% / 4h	8m 11s	$1.9M	$1.1M	20x
Short	Bybit PONSUSDT	0.6414	0.0756	get 0.0378% / 4h	8m 11s	$19.4M	$31.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now −0.342%Rate

Funding earned: −$9.59
Price spread: −0.342% → −0.053%: −$28.89
Slippage, 4 orders: −$45.06
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$106.54
Costs to cover: 0.681%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Bybit: 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 BloFin live order book, 3 min ago	5.43 bp	14.1 bp −$14	26.7 bp −$267	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.78 bp	19.0 bp −$19	43.0 bp −$430	doesn't fit	doesn't fit

PONS on 30 exchanges

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 +0.0031% / S −0.0029%	1h	0.6403	−0.518%	$252K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−7.730%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6408	−0.435%	$21K	$414K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6428	−0.124%	$75K	$94K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6443	+0.115%	$32K	$283K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6421	−0.232%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6411	−0.388%	—	$805K	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6414	−0.339%	$27K	$597K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6394	−0.654%	$67K	$558K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6412	−0.373%	$1.7M	$3.2M	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0224%	1h	0.6407	−0.449%	$399	—	3x	as long as short
Hyperliquid PONS	+0.0250%	1h	0.6411	−0.396%	$65.4M	$29.3M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0297%	4h	0.6413	−0.357%	$14.1M	$60.5M	20x	as long as short
Aster PONSUSDT	+0.0384%	4h	0.6412	−0.373%	$1.2M	$2.1M	20x	as long as short
Pacifica PONS	+0.0517%	1h	0.6413	−0.362%	$47K	$70K	3x	as long as short
KuCoin PONSUSDTM	+0.0544%	4h	0.6409	−0.426%	$1.8M	$4.3M	20x	as long as short
Lighter RH PONS	+0.0560%	1h	0.6413	−0.359%	$447K	$2.6M	3x	as long as short
Variational Omni PONS	+0.0564%	4h	0.6434	−0.027%	$1.5M	$3.7M	—	as long as short
MEXC PONS_USDT	+0.0566%	4h	0.6411	−0.388%	$7.9M	$4.6M	20x	as long as short
Binance PONSUSDT	+0.0567%	4h	0.6412	−0.376%	$41.5M	$98.6M	20x	as long as short
Extended PONS-USD	+0.0568%	1h	0.6410	−0.411%	$185K	$821K	5x	as long as short
edgeX PONSUSDC	+0.0568%	4h	0.6432	−0.066%	$18K	$294K	10x	as long as short
Bitget PONSUSDT	+0.0662%	4h	0.6415	−0.326%	$5.1M	$13.1M	20x	as long as short
BingX PONS-USDT	+0.0702%	4h	0.6406	−0.466%	—	$3.1M	—	as long as short
Polymarket Perps PONS-USD	+0.0744%	1h	0.6408	−0.443%	$72K	$2.1M	3x	as long as short
Bybit PONSUSDTshort	+0.0756%	4h	0.6414	−0.342%	$19.4M	$31.4M	20x
BloFin PONS-USDTlong	+0.0801%	4h	0.6436	long leg	$1.9M	$1.1M	20x
Lighter PONS	+0.0816%	1h	0.6413	−0.359%	$1.8M	$859K	3x	as long as short
Phoenix PONS	+0.1439%	1h	0.6438	+0.030%	$49K	$153K	3x	as long as short
Gate PONS_USDT	+0.1534%	4h	0.6403	−0.513%	$5.5M	$6.6M	20x	as long as short