PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.1537%/8h= +168.3% APRnext payment +$1.92 per $10,000 · paid last 24h +0.403%

Price spread now: Phoenix against SoDEX−0.284%50s7-day average +0.010% · you buy dearer than you sell

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−$1591.585% of the position

Long on SoDEX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+1.460%+$146 on $10k

Price spread, last 4 days (all we have)−0.126%−$13 · spread now −0.284%, 7d avg +0.010%

Together, before fees+1.334%+$133 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.293% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.284% now, against its 7-day average of +0.010%). If the spread goes back, that is −$29 on $10k: about 15 hours of funding at the current rate (+$46 a day). The two prices were read 50 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	SoDEX PONS-USD	0.6278	0.0100	pay 0.0013% / 1h	7m 31s	$27K	$596K	3x
Short	Phoenix PONS	0.6260	0.1637	get 0.0205% / 1h	7m 31s	$48K	$162K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against SoDEX. 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 SoDEXbpFee PhoenixbpOrdersPrice spread, now −0.284%Rate

Funding earned: $322.8
Price spread: −0.284% → +0.010%: −$29.33
Slippage, 4 orders: −$143.53
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $134.93
Costs to cover: 1.585%
Break-even: 4.1 days

Slippage from SoDEX: live order book, 39 min ago; Phoenix: live order book, 32 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 SoDEX live order book, 39 min ago	0.79 bp	62.2 bp −$62	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 32 min ago	2.99 bp	15.3 bp −$15	49.2 bp −$492	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	−0.191%	$247K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−5.408%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6306	+0.446%	$22K	$395K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6302	+0.387%	$77K	$92K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.6283	+0.080%	$5.3M	$6.5M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6276	−0.038%	$31K	$285K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6286	+0.127%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6277	−0.014%	—	$847K	10x	as long as short
SoDEX PONS-USDlong	+0.0100%	1h	0.6278	long leg	$27K	$596K	3x
HTX PONS-USDT	+0.0100%	4h	0.6257	−0.328%	$64K	$548K	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6279	+0.016%	$1.7M	$3.2M	20x	as long as short
Hyperliquid PONS	+0.0227%	1h	0.6301	+0.360%	$64.6M	$29.5M	3x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6279	+0.016%	$391	—	3x	as long as short
Lighter PONS	+0.0256%	1h	0.6291	+0.205%	$1.7M	$858K	3x	as long as short
OKX PONS-USDT-SWAP	+0.0281%	4h	0.6301	+0.366%	$14.0M	$59.1M	20x	as long as short
Lighter RH PONS	+0.0304%	1h	0.6289	+0.175%	$458K	$2.7M	3x	as long as short
Aster PONSUSDT	+0.0447%	4h	0.6298	+0.326%	$1.2M	$2.1M	20x	as long as short
Polymarket Perps PONS-USD	+0.0471%	1h	0.6304	+0.413%	$89K	$2.0M	3x	as long as short
KuCoin PONSUSDTM	+0.0486%	4h	0.6290	+0.196%	$1.8M	$4.3M	20x	as long as short
Variational Omni PONS	+0.0580%	4h	0.6259	−0.304%	$1.5M	$3.9M	—	as long as short
Extended PONS-USD	+0.0592%	1h	0.6298	+0.321%	$181K	$854K	5x	as long as short
Binance PONSUSDT	+0.0593%	4h	0.6306	+0.446%	$40.7M	$98.3M	20x	as long as short
MEXC PONS_USDT	+0.0594%	4h	0.6305	+0.430%	$7.7M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0602%	4h	0.6277	−0.014%	$18K	$294K	10x	as long as short
Pacifica PONS	+0.0616%	1h	0.6295	+0.275%	$46K	$73K	3x	as long as short
Bitget PONSUSDT	+0.0716%	4h	0.6307	+0.467%	$5.0M	$13.1M	20x	as long as short
BingX PONS-USDT	+0.0722%	4h	0.6294	+0.255%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0770%	4h	0.6304	+0.414%	$18.9M	$31.6M	20x	as long as short
BloFin PONS-USDT	+0.0835%	4h	0.6267	−0.175%	$1.8M	$1.1M	20x	as long as short
Phoenix PONSshort	+0.1637%	1h	0.6260	−0.284%	$48K	$162K	3x