PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0233%/8h= −25.5% APRnext payment −$0.29 per $10,000 · paid last 24h −0.090%

Price spread now: Pacifica against Hyperliquid+0.035%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$580.584% of the position

Long on Hyperliquid Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 4 days (all we have)+0.067%+$7 · spread now +0.035%, 7d avg −0.011%

Together, before fees+0.010%+ Points / potential airdropHyperliquid: Season 2 · Pacifica: Active · farm board+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.047% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.035% now, against its 7-day average of −0.011%): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.058% in total) that is about 5.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.058% in total (about -3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.29 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	Hyperliquid PONS	0.5986	0.0684	pay 0.0086% / 1h	12m 24s	$60.5M	$30.2M	3x
Short	Pacifica PONS	0.5988	0.0451	get 0.0056% / 1h	12m 24s	$47K	$96K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Hyperliquid. 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 HyperliquidbpFee PacificabpOrdersPrice spread, now +0.035%Rate

Funding earned: −$48.95
Price spread: +0.035% → −0.011%: $4.66
Slippage, 4 orders: −$41.39
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$102.67
Costs to cover: 0.584%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; Pacifica: live order book, 70 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 Hyperliquid live order book, 11 min ago	2.42 bp	12.1 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 70 min ago	6.26 bp	16.8 bp −$17	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 −0.0036%	1h	0.5973	−0.220%	$224K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.276%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5984	−0.033%	$21K	$439K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5977	−0.150%	$17.9M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5975	−0.184%	$13.5M	$56.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5985	−0.022%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5987	+0.013%	$4.6M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5983	−0.046%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5997	+0.175%	$35K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5986	−0.005%	$3K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5983	−0.043%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5982	−0.067%	$27K	$545K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5992	+0.100%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5982	−0.067%	$1.7M	$3.3M	20x	as long as short
Aster PONSUSDT	+0.0126%	4h	0.5984	−0.042%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5983	−0.050%	$373	—	3x	as long as short
MEXC PONS_USDT	+0.0182%	4h	0.5981	−0.084%	$7.7M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0183%	4h	0.5979	−0.117%	$38.9M	$97.7M	20x	as long as short
Extended PONS-USD	+0.0184%	1h	0.5984	−0.028%	$248K	$667K	5x	as long as short
BingX PONS-USDT	+0.0186%	4h	0.5974	−0.200%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0198%	4h	0.5990	+0.067%	$21K	$294K	10x	as long as short
Nado PONS-PERP	+0.0215%	1h	0.5982	−0.067%	$90K	$103K	5x	as long as short
Lighter RH PONS	+0.0280%	1h	0.5987	+0.022%	$422K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0423%	4h	0.5988	+0.033%	$1.7M	$981K	20x	as long as short
Pacifica PONSshort	+0.0451%	1h	0.5988	+0.035%	$47K	$96K	3x
Polymarket Perps PONS-USD	+0.0481%	1h	0.5986	−0.005%	$37K	$1.7M	3x	as long as short
Lighter PONS	+0.0640%	1h	0.5987	+0.023%	$1.7M	$1.0M	3x	as long as short
Hyperliquid PONSlong	+0.0684%	1h	0.5986	long leg	$60.5M	$30.2M	3x
Phoenix PONS	+0.1398%	1h	0.5990	+0.065%	$30K	$96K	3x	as long as short
Gate PONS_USDT	+0.1478%	4h	0.5981	−0.084%	$5.2M	$6.5M	20x	as long as short