Spread before costs (cost unknown: a leg has no order-book sample)+0.501%
7d average—if it closes, per $10,000$50funding while held, a day+$32.42
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget PONSUSDT | 0.6210 | 0.0408 | pay 0.0204% / 4h | 16m 34s | $4.8M | $10.8M | 20x |
| Short | Phoenix PONS | 0.6241 | 0.1489 | get 0.0186% / 1h | 16m 34s | $25K | $51K | 3x |
Bitget PONSUSDT
Phoenix PONSPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $50.08
- Funding while held
- $32.42
- Slippage, 4 orders
- no order book: not counted
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $63.5
- Spread needed to break even
- 0.190%
Slippage unknown: Bitget: live order book, 3 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.1081%
- Per $10,000 a day
- +$32.42
- Average in range /8h
- —
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 Bitget live order book, 3 min ago | 2.41 bp | 22.7 bp −$23 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
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 price on every exchange
against the cheapest. Click to use as the short leg.Injective0.5738cheapest
BingX0.6192+7.912%Phemex0.6199+8.034%KuCoin0.6199+8.038%Binance0.6203+8.108%Extended0.6204+8.126%Pacifica0.6205+8.137%Bybit0.6205+8.139%OKX0.6205+8.139%Lighter RH0.6206+8.156%SoDEX0.6206+8.156%Nado0.6206+8.158%Popdex0.6207+8.174%MEXC0.6207+8.174%Polymarket Perps0.6208+8.184%Aster0.6208+8.194%SunX0.6208+8.196%Aevo0.6209+8.200%Hyperliquid0.6209+8.208%Gate0.6209+8.208%gTrade (Gains Network)0.6209+8.213%
Injective
BingX
Phemex
KuCoin
Binance
Extended
Pacifica
Bybit
OKX
Lighter RH
SoDEX
Nado
Popdex
MEXC
Polymarket Perps
Aster
SunX
Aevo
Hyperliquid
Gate
gTrade (Gains Network)Bitget0.6210+8.224%
Variational Omni0.6211+8.243%Lighter0.6212+8.264%Orderly0.6213+8.273%BloFin0.6214+8.296%edgeX0.6217+8.341%HTX0.6227+8.527%ApeX Omni0.6236+8.681%
Variational Omni
Lighter
Orderly
BloFin
HTX
ApeX OmniPhoenix0.6241+8.766%
PONS on 30 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PONS/USDC PERP | −7.599% | +0.0033% | 1h | $590 | $15K | 5.5x | as long as short |
| BingX PONS-USDT | −0.288% | +0.0628% | 4h | — | $3.1M | — | as long as short |
| Phemex PONSUSDT | −0.176% | +0.0100% | 4h | $1.7M | $3.3M | 20x | as long as short |
| KuCoin PONSUSDTM | −0.172% | +0.0336% | 4h | $1.8M | $3.1M | 20x | as long as short |
| Binance PONSUSDT | −0.107% | +0.0549% | 4h | $41.4M | $93.1M | 20x | as long as short |
| Extended PONS-USD | −0.090% | +0.0560% | 1h | $93K | $533K | 5x | as long as short |
| Pacifica PONS | −0.081% | +0.0472% | 1h | $50K | $166K | 3x | as long as short |
| Bybit PONSUSDT | −0.079% | +0.0648% | 4h | $19.8M | $27.1M | 20x | as long as short |
| OKX PONS-USDT-SWAP | −0.079% | +0.0142% | 4h | $14.4M | $54.8M | 20x | as long as short |
| Lighter RH PONS | −0.063% | +0.0376% | 1h | $432K | $2.2M | 3x | as long as short |
Show all 30 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| SoDEX PONS-USD | −0.063% | +0.0100% | 1h | $28K | $472K | 3x | as long as short |
| Nado PONS-PERP | −0.061% | +0.0635% | 1h | $112K | $67K | 5x | as long as short |
| Popdex PONSUSDT | −0.047% | +0.0096% | 1h | $19K | $463K | 20x | as long as short |
| MEXC PONS_USDT | −0.047% | +0.0558% | 4h | $7.9M | $5.1M | 20x | as long as short |
| Polymarket Perps PONS-USD | −0.037% | +0.0536% | 1h | $67K | $1.8M | 3x | as long as short |
| Aster PONSUSDT | −0.027% | +0.0238% | 4h | $1.1M | $2.2M | 20x | as long as short |
| SunX PONS-USDT | −0.026% | +0.0100% | 4h | — | $1.4M | 10x | as long as short |
| Aevo PONS-PERP | −0.023% | +0.0216% | 1h | $387 | — | 3x | as long as short |
| Hyperliquid PONS | −0.014% | +0.1063% | 1h | $63.1M | $26.6M | 3x | as long as short |
| Gate PONS_USDT | −0.014% | +0.0014% | 4h | $5.5M | $7.3M | 20x | as long as short |
| gTrade (Gains Network) PONS/USD | −0.010% | L +0.0032% / S −0.0031% | 1h | $224K | — | 150x | as long as short |
| Bitget PONSUSDTlong | 0.000% | +0.0408% | 4h | $4.8M | $10.8M | 20x | |
| Variational Omni PONS | +0.017% | +0.0558% | 4h | $1.7M | $3.5M | — | as long as short |
| Lighter PONS | +0.037% | +0.1000% | 1h | $1.8M | $772K | 3x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.045% | +0.0100% | 4h | $2K | $2K | 10x | as long as short |
| BloFin PONS-USDT | +0.066% | +0.0799% | 4h | $1.9M | $910K | 20x | as long as short |
| edgeX PONSUSDC | +0.108% | +0.0560% | 4h | $21K | $289K | 10x | as long as short |
| HTX PONS-USDT | +0.280% | +0.0100% | 4h | $66K | $496K | 20x | as long as short |
| ApeX Omni PONSUSDT | +0.422% | +0.0100% | 1h | $39K | $318K | 5x | as long as short |
| Phoenix PONSshort | +0.501% | +0.1489% | 1h | $25K | $51K | 3x |