PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0181%/8h= +19.8% APRnext payment +$0.90 per $10,000 · paid last 24h +0.032%

Price spread now: OKX against Phemex+0.191%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$1011.010% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.262%+$26 on $10k

Price spread, last 4 days (all we have)−0.352%−$35 · spread now +0.191%, 7d avg −0.032%

Together, before fees−0.090%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and OKX is 0.223% dearer against Phemex than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.6291	0.0100	pay 0.0050% / 4h	1h 06m	$1.7M	$3.2M	20x
Short	OKX PONS-USDT-SWAP	0.6303	0.0281	get 0.0140% / 4h	1h 06m	$14.0M	$59.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.191%Rate

Funding earned: $38.01
Price spread: +0.191% → −0.032%: $22.32
Slippage, 4 orders: −$79.01
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$40.68
Costs to cover: 1.010%
Break-even: 14.5 days

Slippage from Phemex: live order book, 5 min ago; OKX: live order book, 5 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	2.39 bp	34.5 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.60 bp	13.1 bp −$13	34.6 bp −$346	doesn't fit	doesn't fit

PONS on 30 exchanges

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 +0.0032% / S −0.0029%	1h	0.6266	−0.397%	$247K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−5.603%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6306	+0.238%	$22K	$395K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6302	+0.180%	$77K	$92K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.6291	0.000%	$5.4M	$6.5M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6276	−0.245%	$31K	$285K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6302	+0.176%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6301	+0.157%	—	$847K	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6296	+0.084%	$27K	$596K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6294	+0.041%	$65K	$549K	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDTlong	+0.0100%	4h	0.6291	long leg	$1.7M	$3.2M	20x
Hyperliquid PONS	+0.0225%	1h	0.6301	+0.165%	$64.6M	$29.5M	3x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6296	+0.079%	$392	—	3x	as long as short
Lighter PONS	+0.0280%	1h	0.6301	+0.156%	$1.7M	$858K	3x	as long as short
OKX PONS-USDT-SWAPshort	+0.0281%	4h	0.6303	+0.191%	$14.0M	$59.1M	20x
Lighter RH PONS	+0.0320%	1h	0.6298	+0.108%	$459K	$2.7M	3x	as long as short
Aster PONSUSDT	+0.0451%	4h	0.6300	+0.143%	$1.2M	$2.1M	20x	as long as short
Polymarket Perps PONS-USD	+0.0471%	1h	0.6304	+0.205%	$89K	$2.0M	3x	as long as short
KuCoin PONSUSDTM	+0.0492%	4h	0.6306	+0.242%	$1.8M	$4.3M	20x	as long as short
Variational Omni PONS	+0.0580%	4h	0.6259	−0.510%	$1.5M	$3.9M	—	as long as short
Extended PONS-USD	+0.0592%	1h	0.6304	+0.206%	$181K	$854K	5x	as long as short
Binance PONSUSDT	+0.0593%	4h	0.6303	+0.191%	$40.6M	$98.2M	20x	as long as short
MEXC PONS_USDT	+0.0594%	4h	0.6301	+0.159%	$7.6M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0602%	4h	0.6277	−0.221%	$18K	$294K	10x	as long as short
Pacifica PONS	+0.0616%	1h	0.6301	+0.155%	$46K	$73K	3x	as long as short
Bitget PONSUSDT	+0.0716%	4h	0.6302	+0.175%	$5.0M	$13.1M	20x	as long as short
BingX PONS-USDT	+0.0722%	4h	0.6295	+0.064%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0770%	4h	0.6302	+0.175%	$18.9M	$31.6M	20x	as long as short
BloFin PONS-USDT	+0.0834%	4h	0.6295	+0.064%	$1.8M	$1.1M	20x	as long as short
Phoenix PONS	+0.1637%	1h	0.6260	−0.490%	$48K	$162K	3x	as long as short