PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1365%/8h= −149.4% APRnext payment −$1.71 per $10,000 · paid last 24h −0.419%

Price spread now: Injective against Phoenix+0.478%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Injective

What this pair did over the last

the charts below follow

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

The price spread pays, funding is against you. Injective is 0.478% dearer against Phoenix than usual: you sell high and buy low (spread +0.478% now, against zero (this spread has no 7-day history yet)): +$48 on $10k if it goes back. Holding the pair costs −$41 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix PONS	0.5941	0.1398	pay 0.0175% / 1h	27m 49s	$30K	$96K	3x
Short	Injective PONS/USDC PERP	0.5969	0.0033	get 0.0004% / 1h	27m 49s	$614	$10K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PhoenixbpFee InjectivebpOrdersPrice spread, now +0.478%Rate

Funding earned: −$286.61
Price spread: +0.478% → 0.000%: $47.8
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$245.83
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; 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 Phoenix no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Phoenix and 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 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 −0.0034%	1h	0.5950	+0.142%	$218K	—	150x	as long as short
Injective PONS/USDC PERPshort	+0.0033%	1h	0.5969	+0.478%	$614	$10K	5.5x
Popdex PONSUSDT	+0.0096%	1h	0.5966	+0.419%	$18K	$437K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5952	+0.183%	$17.8M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5952	+0.183%	$13.5M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5952	+0.192%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5955	+0.229%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5935	−0.098%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5941	+0.007%	$34K	$347K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5954	+0.220%	$2K	$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	0.5959	+0.308%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5953	+0.200%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5965	+0.399%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5954	+0.217%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5953	+0.206%	$371	—	3x	as long as short
Aster PONSUSDT	+0.0130%	4h	0.5953	+0.207%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0160%	4h	0.5950	+0.150%	$7.7M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0167%	4h	0.5951	+0.166%	$38.7M	$97.7M	20x	as long as short
Extended PONS-USD	+0.0168%	1h	0.5949	+0.126%	$246K	$667K	5x	as long as short
BingX PONS-USDT	+0.0168%	4h	0.5949	+0.133%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0174%	4h	0.5941	+0.003%	$21K	$294K	10x	as long as short
Nado PONS-PERP	+0.0229%	1h	0.5958	+0.284%	$90K	$103K	5x	as long as short
Lighter RH PONS	+0.0320%	1h	0.5955	+0.234%	$413K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0402%	4h	0.5955	+0.234%	$1.7M	$976K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5962	+0.359%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0478%	1h	0.5960	+0.320%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0658%	1h	0.5957	+0.269%	$60.1M	$30.1M	3x	as long as short
Lighter PONS	+0.0768%	1h	0.5955	+0.234%	$1.7M	$998K	3x	as long as short
Gate PONS_USDT	+0.1242%	4h	0.5947	+0.099%	$5.2M	$6.5M	20x	as long as short
Phoenix PONSlong	+0.1398%	1h	0.5941	long leg	$30K	$96K	3x