PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1552%/8h= −169.9% APRnext payment −$1.94 per $10,000 · paid last 24h −0.334%

Price spread now: Nado against Phoenix+0.244%57s7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1351.353% of the position

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−1.290%−$129 on $10k

Price spread, last 4 days (all we have)−0.127%−$13 · spread now +0.244%, 7d avg −0.013%

Together, before fees−1.417%+ Points / potential airdropNado: Active · farm board−$142 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.257% dearer against Phoenix than usual: you sell high and buy low (spread +0.244% now, against its 7-day average of −0.013%): +$26 on $10k if it goes back. Holding the pair costs −$47 a day in funding at the current rate, which eats that in about 13 hours. The two prices were read 57 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	Phoenix PONS	0.6353	0.1668	pay 0.0208% / 1h	56m 35s	$48K	$162K	3x
Short	Nado PONS-PERP	0.6368	0.0116	get 0.0014% / 1h	56m 35s	$78K	$105K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.244%Rate

Funding earned: −$325.92
Price spread: +0.244% → −0.013%: $25.73
Slippage, 4 orders: −$128.31
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 0 bp × 2 orders: $0
Net: −$435.49
Costs to cover: 1.353%
Break-even: never at this rate

Slippage from Phoenix: live order book, 49 min ago; Nado: live order book, 53 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 Phoenix live order book, 49 min ago	4.46 bp	20.9 bp −$21	67.7 bp −$677	doesn't fit	doesn't fit
Sell Nado live order book, 53 min ago	14.03 bp	41.4 bp −$41	doesn't fit	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 −0.0030%	1h	0.6363	+0.167%	$250K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−6.520%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6365	+0.194%	$24K	$405K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6362	+0.145%	$32K	$279K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6378	+0.401%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6372	+0.305%	—	$895K	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6372	+0.307%	$27K	$636K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6378	+0.400%	$67K	$537K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6371	+0.288%	$1.7M	$3.2M	20x	as long as short
Nado PONS-PERPshort	+0.0116%	1h	0.6368	+0.244%	$78K	$105K	5x

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0240%	1h	0.6374	+0.343%	$397	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0397%	4h	0.6358	+0.083%	$14.5M	$60.4M	20x	as long as short
KuCoin PONSUSDTM	+0.0480%	4h	0.6370	+0.266%	$1.8M	$4.3M	20x	as long as short
Polymarket Perps PONS-USD	+0.0481%	1h	0.6363	+0.168%	$75K	$2.1M	3x	as long as short
Aster PONSUSDT	+0.0548%	4h	0.6370	+0.272%	$1.2M	$2.2M	20x	as long as short
Lighter RH PONS	+0.0568%	1h	0.6369	+0.261%	$450K	$2.6M	3x	as long as short
Hyperliquid PONS	+0.0602%	1h	0.6365	+0.194%	$65.4M	$31.1M	3x	as long as short
Pacifica PONS	+0.0616%	1h	0.6367	+0.230%	$47K	$76K	3x	as long as short
Variational Omni PONS	+0.0662%	4h	0.6340	−0.200%	$1.6M	$4.3M	—	as long as short
MEXC PONS_USDT	+0.0678%	4h	0.6366	+0.209%	$7.9M	$4.5M	20x	as long as short
edgeX PONSUSDC	+0.0679%	4h	0.6348	−0.069%	$19K	$294K	10x	as long as short
Binance PONSUSDT	+0.0679%	4h	0.6366	+0.209%	$41.8M	$101.3M	20x	as long as short
Extended PONS-USD	+0.0680%	1h	0.6365	+0.193%	$184K	$881K	5x	as long as short
Bitget PONSUSDT	+0.0762%	4h	0.6367	+0.227%	$5.1M	$13.6M	20x	as long as short
BingX PONS-USDT	+0.0802%	4h	0.6358	+0.083%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0852%	4h	0.6360	+0.115%	$19.3M	$32.6M	20x	as long as short
Gate PONS_USDT	+0.0864%	4h	0.6364	+0.178%	$5.5M	$6.4M	20x	as long as short
BloFin PONS-USDT	+0.0919%	4h	0.6376	+0.367%	$1.9M	$1.1M	20x	as long as short
Lighter PONS	+0.0984%	1h	0.6372	+0.302%	$1.8M	$852K	3x	as long as short
Phoenix PONSlong	+0.1668%	1h	0.6353	long leg	$48K	$162K	3x