PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.2024%/8h= +221.6% APRnext payment +$10.12 per $10,000 · paid last 24h +0.094%

Price spread now: Gate against Phemex+0.016%7-day average −0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1301.305% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.417%+$42 on $10k

Price spread, last 3 days (all we have)−0.255%−$25 · spread now +0.016%, 7d avg −0.057%

Together, before fees+0.162%+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$61 a day on $10k at the current rate, and Gate is 0.074% dearer against Phemex than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.057%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.417% in total (about 21.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$10.12 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	Phemex PONSUSDT	0.6116	0.0100	pay 0.0050% / 4h	42m 36s	$1.7M	$3.3M	20x
Short	Gate PONS_USDT	0.6117	0.2124	get 0.1062% / 4h	42m 36s	$5.4M	$6.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.016%Rate

Funding earned: $425.04
Price spread: +0.016% → −0.057%: $7.38
Slippage, 4 orders: −$103.5
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $301.92
Costs to cover: 1.305%
Break-even: 2.0 days

Slippage from Phemex: live order book, 1 min ago; Gate: live order book, 1 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, 1 min ago	8.16 bp	36.1 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.45 bp	30.3 bp −$30	83.4 bp −$834	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.395%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0034%	1h	0.6111	−0.082%	$236K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6125	+0.147%	$20K	$445K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6117	+0.016%	$86K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6116	0.000%	$18.5M	$31.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6121	+0.082%	$13.9M	$58.1M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6136	+0.323%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6124	+0.134%	$33K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6125	+0.146%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6118	+0.028%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USD	+0.0100%	1h	0.6117	+0.008%	$28K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6147	+0.500%	$65K	$508K	20x	as long as short
Phemex PONSUSDTlong	+0.0100%	4h	0.6116	long leg	$1.7M	$3.3M	20x
KuCoin PONSUSDTM	+0.0124%	4h	0.6120	+0.069%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0126%	4h	0.6124	+0.131%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6118	+0.036%	$381	—	3x	as long as short
Lighter RH PONS	+0.0160%	1h	0.6123	+0.113%	$430K	$2.6M	3x	as long as short
Aster PONSUSDT	+0.0180%	4h	0.6116	−0.001%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0224%	1h	0.6124	+0.134%	$1.7M	$921K	3x	as long as short
Extended PONS-USD	+0.0288%	1h	0.6124	+0.129%	$253K	$682K	5x	as long as short
MEXC PONS_USDT	+0.0290%	4h	0.6125	+0.147%	$8.1M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0294%	4h	0.6122	+0.105%	$40.0M	$98.9M	20x	as long as short
BingX PONS-USDT	+0.0300%	4h	0.6125	+0.147%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0306%	4h	0.6124	+0.129%	$21K	$294K	10x	as long as short
BloFin PONS-USDT	+0.0531%	4h	0.6119	+0.049%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0717%	1h	0.6121	+0.085%	$42K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6121	+0.087%	$48K	$96K	3x	as long as short
Hyperliquid PONS	+0.0970%	1h	0.6125	+0.144%	$62.2M	$30.8M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6123	+0.116%	$31K	$102K	3x	as long as short
Gate PONS_USDTshort	+0.2124%	4h	0.6117	+0.016%	$5.4M	$6.2M	20x