PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0654%/8h= +71.6% APRnext payment +$3.27 per $10,000 · paid last 24h +0.156%

Price spread now: BloFin against Phemex+0.017%59s7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as 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−$1071.066% of the position

Long on Phemex Short on BloFin

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)−0.046%−$5 · spread now +0.017%, 7d avg +0.049%

Together, before fees+0.894%+$89 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.032% cheaper against Phemex than usual: you would sell low and buy high (spread +0.017% now, against its 7-day average of +0.049%). If the spread goes back, that is −$3 on $10k: about 4 hours of funding at the current rate (+$20 a day). 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	Phemex PONSUSDT	0.5954	0.0100	pay 0.0050% / 4h	1h 03m	$1.6M	$3.2M	20x
Short	BloFin PONS-USDT	0.5955	0.0754	get 0.0377% / 4h	1h 03m	$1.7M	$961K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Phemex. 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 PhemexbpFee BloFinbpOrdersPrice spread, now +0.017%Rate

Funding earned: $137.38
Price spread: +0.017% → +0.049%: −$3.25
Slippage, 4 orders: −$82.65
Fee Phemex: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: $27.49
Costs to cover: 1.066%
Break-even: 5.6 days

Slippage from Phemex: live order book, 5 min ago; BloFin: 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 Phemex live order book, 5 min ago	6.68 bp	40.1 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	3.35 bp	13.9 bp −$14	28.7 bp −$287	123.8 bp −$12.4K	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 −0.0033%	1h	0.5945	−0.158%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.260%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5947	−0.118%	$21K	$435K	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5944	−0.168%	$5.2M	$6.3M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5954	+0.003%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5955	+0.008%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5956	+0.040%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5951	−0.052%	$26K	$527K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5969	+0.255%	$64K	$509K	20x	as long as short
Phemex PONSUSDTlong	+0.0100%	4h	0.5954	long leg	$1.6M	$3.2M	20x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONS	+0.0199%	4h	0.5951	−0.045%	$1.4M	$3.9M	—	as long as short
Aevo PONS-PERP	+0.0208%	1h	0.5941	−0.211%	$370	—	3x	as long as short
Nado PONS-PERP	+0.0242%	1h	0.5956	+0.034%	$70K	$129K	5x	as long as short
Lighter RH PONS	+0.0248%	1h	0.5945	−0.151%	$403K	$2.5M	3x	as long as short
Lighter PONS	+0.0288%	1h	0.5941	−0.220%	$1.6M	$877K	3x	as long as short
OKX PONS-USDT-SWAP	+0.0317%	4h	0.5933	−0.353%	$13.5M	$54.4M	20x	as long as short
Aster PONSUSDT	+0.0404%	4h	0.5941	−0.218%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0426%	4h	0.5936	−0.296%	$4.6M	$11.4M	20x	as long as short
Bybit PONSUSDT	+0.0480%	4h	0.5949	−0.084%	$17.8M	$30.7M	20x	as long as short
KuCoin PONSUSDTM	+0.0484%	4h	0.5940	−0.233%	$1.6M	$3.7M	20x	as long as short
BingX PONS-USDT	+0.0506%	4h	0.5940	−0.235%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0512%	1h	0.5938	−0.274%	$246K	$672K	5x	as long as short
MEXC PONS_USDT	+0.0514%	4h	0.5939	−0.252%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0515%	4h	0.5947	−0.120%	$39.2M	$94.9M	20x	as long as short
edgeX PONSUSDC	+0.0530%	4h	0.5953	−0.025%	$18K	$293K	10x	as long as short
BloFin PONS-USDTshort	+0.0754%	4h	0.5955	+0.017%	$1.7M	$961K	20x
Pacifica PONS	+0.0755%	1h	0.5937	−0.288%	$47K	$69K	3x	as long as short
Hyperliquid PONS	+0.0762%	1h	0.5940	−0.235%	$60.5M	$27.8M	3x	as long as short
Polymarket Perps PONS-USD	+0.0850%	1h	0.5954	−0.007%	$68K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.5959	+0.079%	$31K	$98K	3x	as long as short