PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0747%/8h= −81.8% APRnext payment −$3.74 per $10,000 · paid last 24h −0.156%

Price spread now: Phemex against BloFin−0.247%59s7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$205as 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−$1111.113% of the position

Long on BloFin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.940%−$94 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.247%, 7d avg −0.030%

Together, before fees−0.853%−$85 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Phemex is 0.217% cheaper against BloFin than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.030%). Swap the legs. The two prices were read 59 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	0.6080	0.0847	pay 0.0424% / 4h	15m 38s	$1.7M	$965K	20x
Short	Phemex PONSUSDT	0.6065	0.0100	get 0.0050% / 4h	15m 38s	$1.7M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.247%Rate

Funding earned: −$156.95
Price spread: −0.247% → −0.030%: −$21.69
Slippage, 4 orders: −$87.3
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$289.93
Costs to cover: 1.113%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Phemex: live order book, 3 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, 2 min ago	1.65 bp	14.6 bp −$15	29.9 bp −$299	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	0.83 bp	38.4 bp −$38	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	0.6060	−0.322%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.817%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6080	0.000%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6079	−0.023%	$35K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6080	+0.003%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6077	−0.046%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6075	−0.082%	$26K	$534K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6094	+0.230%	$66K	$512K	20x	as long as short
Phemex PONSUSDTshort	+0.0100%	4h	0.6065	−0.247%	$1.7M	$3.2M	20x
Aevo PONS-PERP	+0.0232%	1h	0.6078	−0.033%	$379	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONS	+0.0271%	4h	0.6073	−0.108%	$1.4M	$3.9M	—	as long as short
Nado PONS-PERP	+0.0313%	1h	0.6076	−0.066%	$71K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0339%	4h	0.6072	−0.132%	$13.8M	$55.9M	20x	as long as short
Gate PONS_USDT	+0.0430%	4h	0.6071	−0.148%	$5.3M	$6.3M	20x	as long as short
Lighter PONS	+0.0448%	1h	0.6075	−0.082%	$1.7M	$885K	3x	as long as short
Bitget PONSUSDT	+0.0484%	4h	0.6080	+0.008%	$4.7M	$11.5M	20x	as long as short
Bybit PONSUSDT	+0.0488%	4h	0.6074	−0.099%	$18.1M	$30.8M	20x	as long as short
Aster PONSUSDT	+0.0491%	4h	0.6075	−0.082%	$1.1M	$2.1M	20x	as long as short
Lighter RH PONS	+0.0544%	1h	0.6073	−0.112%	$415K	$2.5M	3x	as long as short
BingX PONS-USDT	+0.0578%	4h	0.6081	+0.016%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0606%	4h	0.6079	−0.016%	$7.7M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0608%	1h	0.6076	−0.069%	$108K	$813K	5x	as long as short
Binance PONSUSDT	+0.0614%	4h	0.6079	−0.024%	$39.7M	$95.2M	20x	as long as short
edgeX PONSUSDC	+0.0628%	4h	0.6077	−0.049%	$18K	$294K	10x	as long as short
KuCoin PONSUSDTM	+0.0684%	4h	0.6077	−0.044%	$1.7M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0821%	1h	0.6077	−0.046%	$62.1M	$28.3M	3x	as long as short
BloFin PONS-USDTlong	+0.0847%	4h	0.6080	long leg	$1.7M	$965K	20x
Pacifica PONS	+0.0859%	1h	0.6075	−0.075%	$48K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0897%	1h	0.6075	−0.084%	$73K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6074	−0.097%	$31K	$104K	3x	as long as short