Funding you earn now, next payment 20:00 UTC−0.1166%/8h= −127.7% APRnext payment −$1.46 per $10,000 · paid last 24h −0.450%
Price spread now: Injective against Phoenix−0.199%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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
Both sides work against this trade now: funding costs −$35 a day on $10k at the current rate, and Injective is 0.199% cheaper against Phoenix than usual: you would sell low and buy high (−$20 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix PONS | 0.5931 | 0.1232 | pay 0.0154% / 1h | 54m 27s | $27K | $86K | 3x |
| Short | Injective PONS/USDC PERP | 0.5920 | 0.0066 | get 0.0008% / 1h | 54m 27s | $609 | $6K | 5.5x |
Phoenix PONS
Injective PONS/USDC PERPFunding 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
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$244.95
- Price spread: −0.199% → 0.000%
- −$19.89
- 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
- −$271.87
- Costs to cover
- 0.070%
- Break-even
- never at this rate
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 +0.0032% / S −0.0034% | 1h | 0.5915 | −0.284% | $217K | — | 150x | as long as short |
| Injective PONS/USDC PERPshort | +0.0066% | 1h | 0.5920 | −0.199% | $609 | $6K | 5.5x | |
| Popdex PONSUSDT | +0.0096% | 1h | 0.5901 | −0.513% | $21K | $459K | 20x | as long as short |
| Bybit PONSUSDT | +0.0100% | 4h | 0.5895 | −0.614% | $17.9M | $31.5M | 20x | as long as short |
| OKX PONS-USDT-SWAP | +0.0100% | 4h | 0.5896 | −0.597% | $13.5M | $55.8M | 20x | as long as short |
| KuCoin PONSUSDTM | +0.0100% | 4h | 0.5912 | −0.332% | $1.7M | $3.7M | 20x | as long as short |
| Bitget PONSUSDT | +0.0100% | 4h | 0.5901 | −0.504% | $4.6M | $11.6M | 20x | as long as short |
| Variational Omni PONS | +0.0100% | 4h | 0.5929 | −0.033% | $1.4M | $4.3M | — | as long as short |
| ApeX Omni PONSUSDT | +0.0100% | 1h | 0.5922 | −0.155% | $34K | $326K | 5x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.0100% | 4h | 0.5924 | −0.133% | $2K | $3K | 10x | as long as short |
gTrade (Gains Network) PONS/USD
Popdex PONSUSDT
Bybit PONSUSDT
OKX PONS-USDT-SWAP
KuCoin PONSUSDTM
Bitget PONSUSDT
Variational Omni PONS
ApeX Omni PONSUSDT
Orderly PERP_PONS_USDC_mythosShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX PONS-USDT | +0.0100% | 4h | 0.5919 | −0.204% | — | $1.4M | 10x | as long as short |
| SoDEX PONS-USD | +0.0100% | 1h | 0.5913 | −0.305% | $27K | $534K | 3x | as long as short |
| HTX PONS-USDT | +0.0100% | 4h | 0.5934 | +0.051% | $64K | $503K | 20x | as long as short |
| Phemex PONSUSDT | +0.0100% | 4h | 0.5912 | −0.327% | $1.7M | $3.3M | 20x | as long as short |
| Aevo PONS-PERP | +0.0128% | 1h | 0.5919 | −0.208% | $369 | — | 3x | as long as short |
| Lighter RH PONS | +0.0136% | 1h | 0.5916 | −0.260% | $398K | $2.6M | 3x | as long as short |
| MEXC PONS_USDT | +0.0174% | 4h | 0.5905 | −0.445% | $7.7M | $5.1M | 20x | as long as short |
| Binance PONSUSDT | +0.0176% | 4h | 0.5905 | −0.444% | $38.5M | $98.1M | 20x | as long as short |
| Extended PONS-USD | +0.0176% | 1h | 0.5910 | −0.363% | $105K | $529K | 5x | as long as short |
| BingX PONS-USDT | +0.0190% | 4h | 0.5901 | −0.513% | — | $3.1M | — | as long as short |
| edgeX PONSUSDC | +0.0192% | 4h | 0.5932 | +0.011% | $21K | $292K | 10x | as long as short |
| Aster PONSUSDT | +0.0239% | 4h | 0.5911 | −0.350% | $1.1M | $2.2M | 20x | as long as short |
| Polymarket Perps PONS-USD | +0.0313% | 1h | 0.5899 | −0.543% | $38K | $1.8M | 3x | as long as short |
| Gate PONS_USDT | +0.0358% | 4h | 0.5896 | −0.597% | $5.1M | $6.7M | 20x | as long as short |
| Nado PONS-PERP | +0.0408% | 1h | 0.5903 | −0.477% | $89K | $103K | 5x | as long as short |
| BloFin PONS-USDT | +0.0416% | 4h | 0.5923 | −0.142% | $1.7M | $984K | 20x | as long as short |
| Pacifica PONS | +0.0474% | 1h | 0.5907 | −0.412% | $47K | $102K | 3x | as long as short |
| Hyperliquid PONS | +0.0703% | 1h | 0.5901 | −0.519% | $59.0M | $29.5M | 3x | as long as short |
| Lighter PONS | +0.1088% | 1h | 0.5916 | −0.260% | $1.7M | $879K | 3x | as long as short |
| Phoenix PONSlong | +0.1232% | 1h | 0.5931 | long leg | $27K | $86K | 3x |
SunX PONS-USDT
SoDEX PONS-USD
HTX PONS-USDT
Phemex PONSUSDT
Aevo PONS-PERP
Lighter RH PONS
MEXC PONS_USDT
Binance PONSUSDT
Extended PONS-USD
BingX PONS-USDT
edgeX PONSUSDC
Aster PONSUSDT
Polymarket Perps PONS-USD
Gate PONS_USDT
Nado PONS-PERP
BloFin PONS-USDT
Pacifica PONS
Hyperliquid PONS
Lighter PONS