Funding you earn now, next payment 03:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.021%
Price spread now: Injective against Phemex−0.508%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.508% cheaper against Phemex than usual: you would sell low and buy high (−$51 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PONSUSDT | 0.6000 | 0.0100 | pay 0.0050% / 4h | 1h 56m | $1.6M | $3.2M | 20x |
| Short | Injective PONS/USDC PERP | 0.5969 | 0.0033 | get 0.0004% / 1h | 56m 39s | $614 | $10K | 5.5x |
Phemex PONSUSDT
Injective PONS/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$14
- Price spread: −0.508% → 0.000%
- −$50.83
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$76.85
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 2 min ago; Injective: no order-book sample. Net counts fees only.
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, 2 min ago | 9.13 bp | 51.9 bp −$52 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
PONS on 29 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 | 0.5995 | −0.087% | $237K | — | 150x | as long as short |
| Injective PONS/USDC PERPshort | +0.0033% | 1h | 0.5969 | −0.508% | $614 | $10K | 5.5x | |
| Popdex PONSUSDT | +0.0096% | 1h | 0.6000 | 0.000% | $20K | $423K | 20x | as long as short |
| Variational Omni PONS | +0.0100% | 4h | 0.6048 | +0.799% | $1.4M | $3.9M | — | as long as short |
| ApeX Omni PONSUSDT | +0.0100% | 1h | 0.6042 | +0.702% | $33K | $351K | 5x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.0100% | 4h | 0.6007 | +0.117% | $2K | $3K | 10x | as long as short |
| SunX PONS-USDT | +0.0100% | 4h | 0.6008 | +0.127% | — | $1.3M | 10x | as long as short |
| SoDEX PONS-USD | +0.0100% | 1h | 0.6000 | +0.008% | $26K | $519K | 3x | as long as short |
| HTX PONS-USDT | +0.0100% | 4h | 0.6007 | +0.110% | $64K | $508K | 20x | as long as short |
| Phemex PONSUSDTlong | +0.0100% | 4h | 0.6000 | long leg | $1.6M | $3.2M | 20x |
gTrade (Gains Network) PONS/USD
Popdex PONSUSDT
Variational Omni PONS
ApeX Omni PONSUSDT
Orderly PERP_PONS_USDC_mythos
SunX PONS-USDT
SoDEX PONS-USD
HTX PONS-USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH PONS | +0.0120% | 1h | 0.6012 | +0.198% | $421K | $2.5M | 3x | as long as short |
| Lighter PONS | +0.0136% | 1h | 0.6012 | +0.198% | $1.7M | $871K | 3x | as long as short |
| Aevo PONS-PERP | +0.0192% | 1h | 0.5998 | −0.040% | $374 | — | 3x | as long as short |
| OKX PONS-USDT-SWAP | +0.0272% | 4h | 0.6027 | +0.450% | $13.8M | $54.3M | 20x | as long as short |
| Nado PONS-PERP | +0.0306% | 1h | 0.5998 | −0.040% | $70K | $131K | 5x | as long as short |
| KuCoin PONSUSDTM | +0.0332% | 4h | 0.6011 | +0.185% | $1.7M | $3.6M | 20x | as long as short |
| Bitget PONSUSDT | +0.0376% | 4h | 0.6034 | +0.558% | $4.7M | $11.2M | 20x | as long as short |
| Aster PONSUSDT | +0.0412% | 4h | 0.5994 | −0.096% | $1.1M | $2.0M | 20x | as long as short |
| Binance PONSUSDT | +0.0446% | 4h | 0.6017 | +0.277% | $39.3M | $93.6M | 20x | as long as short |
| MEXC PONS_USDT | +0.0452% | 4h | 0.6017 | +0.283% | $7.7M | $4.6M | 20x | as long as short |
| Extended PONS-USD | +0.0456% | 1h | 0.6020 | +0.340% | $249K | $670K | 5x | as long as short |
| edgeX PONSUSDC | +0.0459% | 4h | 0.6058 | +0.959% | $21K | $293K | 10x | as long as short |
| Polymarket Perps PONS-USD | +0.0484% | 1h | 0.6002 | +0.035% | $47K | $1.5M | 3x | as long as short |
| BingX PONS-USDT | +0.0506% | 4h | 0.6033 | +0.550% | — | $3.0M | — | as long as short |
| Bybit PONSUSDT | +0.0508% | 4h | 0.6022 | +0.367% | $18.0M | $30.3M | 20x | as long as short |
| Hyperliquid PONS | +0.0663% | 1h | 0.6018 | +0.297% | $61.3M | $27.8M | 3x | as long as short |
| Pacifica PONS | +0.0755% | 1h | 0.6016 | +0.267% | $47K | $72K | 3x | as long as short |
| Gate PONS_USDT | +0.0812% | 4h | 0.6014 | +0.233% | $5.3M | $6.1M | 20x | as long as short |
| Phoenix PONS | +0.1695% | 1h | 0.6002 | +0.032% | $31K | $98K | 3x | as long as short |
Lighter RH PONS
Lighter PONS
Aevo PONS-PERP
OKX PONS-USDT-SWAP
Nado PONS-PERP
KuCoin PONSUSDTM
Bitget PONSUSDT
Aster PONSUSDT
Binance PONSUSDT
MEXC PONS_USDT
Extended PONS-USD
edgeX PONSUSDC
Polymarket Perps PONS-USD
BingX PONS-USDT
Bybit PONSUSDT
Hyperliquid PONS
Pacifica PONS
Gate PONS_USDT
Phoenix PONS