Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against SunX+0.088%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$409as in the Funding arb table

Net, price: spread back to 7d avg − costs−$398as in the Price arb table

costs, in and out, $10k−$4114.106% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.089%−$9 · spread now +0.088%, 7d avg −0.036%

Together, before fees−0.073%−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.124% dearer against SunX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PONS-USDT	0.6126	0.0100	pay 0.0050% / 4h	21m 01s	—	$1.2M	10x
Short	Phemex PONSUSDT	0.6131	0.0100	get 0.0050% / 4h	21m 01s	$1.7M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SunX. 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 SunXbpFee PhemexbpOrdersPrice spread, now +0.088%Rate

Funding earned: $0
Price spread: +0.088% → −0.036%: $12.41
Slippage, 4 orders: −$390.56
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$398.15
Costs to cover: 4.106%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; Phemex: live order book, 3 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 SunX live order book, 3 min ago	142.10 bp	160.8 bp −$161	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	0.81 bp	36.6 bp −$37	doesn't fit	doesn't fit	doesn't fit

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 +0.0032% / S −0.0029%	1h	0.6120	−0.098%	$233K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6128	+0.039%	$22K	$455K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6125	−0.010%	$72K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6139	+0.217%	$30K	$300K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6133	+0.118%	$2K	$4K	10x	as long as short
SunX PONS-USDTlong	+0.0100%	4h	0.6126	long leg	—	$1.2M	10x
SoDEX PONS-USD	+0.0100%	1h	0.6126	+0.002%	$26K	$639K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6144	+0.299%	$66K	$536K	20x	as long as short
Phemex PONSUSDTshort	+0.0100%	4h	0.6131	+0.088%	$1.7M	$3.2M	20x
Aevo PONS-PERP	+0.0232%	1h	0.6129	+0.047%	$382	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PONS-USDT-SWAP	+0.0400%	4h	0.6130	+0.072%	$13.9M	$60.3M	20x	as long as short
Lighter RH PONS	+0.0448%	1h	0.6126	+0.008%	$415K	$2.7M	3x	as long as short
Lighter PONS	+0.0464%	1h	0.6128	+0.042%	$1.7M	$853K	3x	as long as short
Aster PONSUSDT	+0.0477%	4h	0.6131	+0.089%	$1.1M	$2.4M	20x	as long as short
Gate PONS_USDT	+0.0480%	4h	0.6121	−0.075%	$5.4M	$6.6M	20x	as long as short
Variational Omni PONS	+0.0493%	4h	0.6095	−0.493%	$1.5M	$4.2M	—	as long as short
KuCoin PONSUSDTM	+0.0544%	4h	0.6122	−0.059%	$1.6M	$4.0M	20x	as long as short
Pacifica PONS	+0.0572%	1h	0.6125	−0.007%	$46K	$69K	3x	as long as short
edgeX PONSUSDC	+0.0574%	4h	0.6138	+0.210%	$20K	$291K	10x	as long as short
MEXC PONS_USDT	+0.0590%	4h	0.6124	−0.026%	$7.7M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0590%	4h	0.6131	+0.088%	$39.8M	$105.0M	20x	as long as short
Extended PONS-USD	+0.0592%	1h	0.6126	+0.013%	$103K	$828K	5x	as long as short
Hyperliquid PONS	+0.0620%	1h	0.6129	+0.048%	$62.3M	$30.4M	3x	as long as short
Bybit PONSUSDT	+0.0651%	4h	0.6129	+0.056%	$18.2M	$32.9M	20x	as long as short
BingX PONS-USDT	+0.0668%	4h	0.6131	+0.088%	—	$3.2M	—	as long as short
Bitget PONSUSDT	+0.0702%	4h	0.6128	+0.046%	$4.9M	$13.0M	20x	as long as short
BloFin PONS-USDT	+0.0830%	4h	0.6127	+0.023%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.1042%	1h	0.6128	+0.031%	$73K	$2.3M	3x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−3.054%	$610	$10K	5.5x	as long as short
Phoenix PONS	+0.1405%	1h	0.6100	−0.421%	$46K	$127K	3x	as long as short