PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1011%/8h= −110.7% APRnext payment −$5.06 per $10,000 · paid last 24h −0.114%

Price spread now: Phemex against Bybit+0.233%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$1051.049% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.357%−$36 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.233%, 7d avg +0.032%

Together, before fees−0.419%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.200% dearer against Bybit than usual: you sell high and buy low (spread +0.233% now, against its 7-day average of +0.032%): +$20 on $10k if it goes back. Holding the pair costs −$30 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.357% 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 -0.357% in total (about -18.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.06 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	0.6020	0.1111	pay 0.0556% / 4h	3h 26m	$18.0M	$30.5M	20x
Short	Phemex PONSUSDT	0.6034	0.0100	get 0.0050% / 4h	3h 26m	$1.7M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.233%Rate

Funding earned: −$212.32
Price spread: +0.233% → +0.032%: $20.04
Slippage, 4 orders: −$81.93
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$297.2
Costs to cover: 1.049%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Phemex: 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	0.83 bp	15.5 bp −$15	34.2 bp −$342	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	3.31 bp	36.9 bp −$37	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	0.6021	+0.018%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.839%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6032	+0.199%	$21K	$417K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6033	+0.216%	$70K	$129K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6042	+0.360%	$35K	$342K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6028	+0.141%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6042	+0.365%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6030	+0.169%	$26K	$534K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6051	+0.513%	$65K	$512K	20x	as long as short
Phemex PONSUSDTshort	+0.0100%	4h	0.6034	+0.233%	$1.7M	$3.2M	20x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0208%	1h	0.6026	+0.098%	$411K	$2.6M	3x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6035	+0.241%	$376	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0358%	4h	0.6017	−0.050%	$13.7M	$55.2M	20x	as long as short
Variational Omni PONS	+0.0427%	4h	0.6045	+0.423%	$1.5M	$3.9M	—	as long as short
Hyperliquid PONS	+0.0489%	1h	0.6032	+0.194%	$61.7M	$28.0M	3x	as long as short
Aster PONSUSDT	+0.0530%	4h	0.6033	+0.221%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0534%	4h	0.6024	+0.065%	$4.6M	$11.5M	20x	as long as short
Lighter PONS	+0.0560%	1h	0.6037	+0.276%	$1.7M	$892K	3x	as long as short
Binance PONSUSDT	+0.0631%	4h	0.6026	+0.108%	$39.4M	$94.3M	20x	as long as short
Extended PONS-USD	+0.0632%	1h	0.6020	+0.004%	$108K	$808K	5x	as long as short
MEXC PONS_USDT	+0.0634%	4h	0.6030	+0.166%	$7.6M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0641%	4h	0.6040	+0.333%	$18K	$292K	10x	as long as short
Polymarket Perps PONS-USD	+0.0697%	1h	0.6029	+0.158%	$72K	$1.6M	3x	as long as short
KuCoin PONSUSDTM	+0.0748%	4h	0.6020	+0.002%	$1.6M	$3.8M	20x	as long as short
BloFin PONS-USDT	+0.0875%	4h	0.6030	+0.166%	$1.7M	$966K	20x	as long as short
BingX PONS-USDT	+0.0944%	4h	0.6024	+0.066%	—	$3.0M	—	as long as short
Pacifica PONS	+0.1081%	1h	0.6023	+0.056%	$47K	$68K	3x	as long as short
Bybit PONSUSDTlong	+0.1111%	4h	0.6020	long leg	$18.0M	$30.5M	20x
Gate PONS_USDT	+0.1172%	4h	0.6028	+0.133%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1586%	1h	0.6044	+0.392%	$46K	$109K	3x	as long as short