PONS

Alert

Funding spread now, next payment 15:00 UTC−0.0952%/8h

paid, last 24h−0.340%paid, last 3 days−2.057%to open and closeno order book

Long on Phoenix Short on Variational Omni

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix PONS	0.6218	0.1489	pay 0.0186% / 1h	8m 27s	$25K	$51K	3x
Short	Variational Omni PONS	0.6217	0.0537	get 0.0268% / 4h	8m 27s	$1.7M	$3.5M	—

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee Variational OmnibpOrdersRate

Funding earned: −$199.93
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$206.93
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.009%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Variational Omni RFQ quote, 2 min ago	4.82 bp	doesn't fit	41.8 bp −$418	doesn't fit	doesn't fit

Phoenix: 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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Gate PONS_USDT	−0.0182%	4h	$5.6M	$7.3M	20x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0031%	1h	$225K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	$590	$15K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	$19K	$455K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	$39K	$314K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	$2K	$2K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	$28K	$470K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	$66K	$495K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	$1.7M	$3.3M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
OKX PONS-USDT-SWAP	+0.0147%	4h	$14.5M	$55.2M	20x	as long as short
Aevo PONS-PERP	+0.0216%	1h	$390	—	3x	as long as short
Aster PONSUSDT	+0.0217%	4h	$1.1M	$2.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0308%	4h	$1.8M	$3.1M	20x	as long as short
Bitget PONSUSDT	+0.0382%	4h	$4.9M	$10.7M	20x	as long as short
Lighter RH PONS	+0.0424%	1h	$430K	$2.2M	3x	as long as short
Pacifica PONS	+0.0472%	1h	$50K	$126K	3x	as long as short
MEXC PONS_USDT	+0.0536%	4h	$7.9M	$5.1M	20x	as long as short
Variational Omni PONSshort	+0.0537%	4h	$1.7M	$3.5M	—
Binance PONSUSDT	+0.0541%	4h	$41.7M	$92.5M	20x	as long as short
Extended PONS-USD	+0.0544%	1h	$94K	$533K	5x	as long as short
edgeX PONSUSDC	+0.0548%	4h	$21K	$288K	10x	as long as short
Polymarket Perps PONS-USD	+0.0569%	1h	$67K	$1.8M	3x	as long as short
Nado PONS-PERP	+0.0603%	1h	$113K	$67K	5x	as long as short
BingX PONS-USDT	+0.0626%	4h	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0632%	4h	$20.0M	$27.1M	20x	as long as short
BloFin PONS-USDT	+0.0778%	4h	$1.9M	$918K	20x	as long as short
Hyperliquid PONS	+0.1054%	1h	$63.7M	$26.6M	3x	as long as short
Lighter PONS	+0.1112%	1h	$1.8M	$772K	3x	as long as short
Phoenix PONSlong	+0.1489%	1h	$25K	$51K	3x