PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0301%/8h= −33.0% APRnext payment −$1.51 per $10,000 · paid last 24h −0.034%

Price spread now: Bitget against Bybit+0.256%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$1011.007% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 7 days−0.318%−$32 · spread now +0.256%, 7d avg +0.031%

Together, before fees−0.276%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.224% dearer against Bybit than usual: you sell high and buy low (spread +0.256% now, against its 7-day average of +0.031%): +$22 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.041% in total (about 2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.51 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	Bybit PONSUSDT	0.6216	0.0981	pay 0.0491% / 4h	3h 56m	$18.7M	$33.1M	20x
Short	Bitget PONSUSDT	0.6232	0.0680	get 0.0340% / 4h	3h 56m	$5.0M	$13.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. 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 BybitbpFee BitgetbpOrdersPrice spread, now +0.256%Rate

Funding earned: −$63.26
Price spread: +0.256% → +0.031%: $22.44
Slippage, 4 orders: −$77.69
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$141.51
Costs to cover: 1.007%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Bitget: 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 Bybit live order book, 2 min ago	3.19 bp	23.5 bp −$23	42.7 bp −$427	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	2.16 bp	29.1 bp −$29	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
Phemex PONSUSDT	−0.6278%	4h	0.6232	+0.257%	$1.7M	$3.2M	20x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0030%	1h	0.6219	+0.047%	$243K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−4.464%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6221	+0.080%	$23K	$444K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6223	+0.107%	$73K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6202	−0.227%	$31K	$299K	5x	as long as short
Polymarket Perps PONS-USD	+0.0100%	1h	0.6207	−0.145%	$73K	$2.3M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6239	+0.365%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6229	+0.206%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6233	+0.273%	$26K	$610K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDT	+0.0100%	4h	0.6256	+0.635%	$67K	$533K	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6232	+0.257%	$388	—	3x	as long as short
Hyperliquid PONS	+0.0255%	1h	0.6227	+0.183%	$63.7M	$31.0M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0385%	4h	0.6214	−0.032%	$14.1M	$61.0M	20x	as long as short
Aster PONSUSDT	+0.0451%	4h	0.6232	+0.254%	$1.1M	$2.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0482%	4h	0.6227	+0.180%	$1.6M	$4.1M	20x	as long as short
Variational Omni PONS	+0.0494%	4h	0.6148	−1.099%	$1.6M	$4.3M	—	as long as short
edgeX PONSUSDC	+0.0598%	4h	0.6206	−0.156%	$20K	$290K	10x	as long as short
Extended PONS-USD	+0.0600%	1h	0.6230	+0.231%	$105K	$827K	5x	as long as short
MEXC PONS_USDT	+0.0602%	4h	0.6232	+0.257%	$7.9M	$4.6M	20x	as long as short
Binance PONSUSDT	+0.0615%	4h	0.6221	+0.075%	$40.4M	$104.5M	20x	as long as short
Bitget PONSUSDTshort	+0.0680%	4h	0.6232	+0.256%	$5.0M	$13.0M	20x
Lighter RH PONS	+0.0696%	1h	0.6229	+0.206%	$423K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0843%	4h	0.6239	+0.370%	$1.8M	$1.1M	20x	as long as short
Pacifica PONS	+0.0853%	1h	0.6233	+0.276%	$47K	$77K	3x	as long as short
Bybit PONSUSDTlong	+0.0981%	4h	0.6216	long leg	$18.7M	$33.1M	20x
Lighter PONS	+0.1096%	1h	0.6232	+0.261%	$1.7M	$841K	3x	as long as short
Phoenix PONS	+0.1405%	1h	0.6261	+0.726%	$48K	$159K	3x	as long as short
BingX PONS-USDT	+0.2020%	4h	0.6227	+0.177%	—	$3.3M	—	as long as short
Gate PONS_USDT	+0.2300%	4h	0.6220	+0.064%	$5.4M	$6.3M	20x	as long as short