Spread before costs (cost unknown: a leg has no order-book sample)+0.423%
7d average—if it closes, per $10,000$42funding while held, a day+$31.90
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX PONSUSDC | 0.6089 | 0.0465 | pay 0.0232% / 4h | 3h 21m | $21K | $292K | 10x |
| Short | Phoenix PONS | 0.6114 | 0.1528 | get 0.0191% / 1h | 21m 09s | $24K | $61K | 3x |
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
- $42.28
- Funding while held
- $31.9
- Slippage, 4 orders
- no order book: not counted
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $58.18
- Spread needed to break even
- 0.160%
Slippage unknown: edgeX: live order book, 23 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.1063%
- Per $10,000 a day
- +$31.90
- 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 edgeX live order book, 23 min ago | 11.30 bp | 19.9 bp −$20 | 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
Binance0.6055+5.520%BingX0.6055+5.525%OKX0.6058+5.577%KuCoin0.6059+5.601%Bybit0.6060+5.612%Hyperliquid0.6063+5.667%MEXC0.6064+5.681%Aster0.6064+5.687%Bitget0.6064+5.688%BloFin0.6066+5.716%gTrade (Gains Network)0.6066+5.724%SoDEX0.6067+5.725%SunX0.6067+5.730%Gate0.6067+5.734%Polymarket Perps0.6067+5.737%Extended0.6068+5.751%Lighter RH0.6070+5.784%Nado0.6070+5.786%Popdex0.6070+5.786%Phemex0.6070+5.786%Aevo0.6070+5.795%Lighter0.6071+5.807%Orderly0.6075+5.864%Pacifica0.6086+6.065%HTX0.6091+6.159%
Injective
Binance
BingX
OKX
KuCoin
Bybit
Hyperliquid
MEXC
Aster
Bitget
BloFin
gTrade (Gains Network)
SoDEX
SunX
Gate
Polymarket Perps
Extended
Lighter RH
Nado
Popdex
Phemex
Aevo
Lighter
Orderly
Pacifica
HTXPhoenix0.6114+6.558%
ApeX Omni0.6116+6.595%Variational Omni0.6121+6.668%
ApeX Omni
Variational OmniPONS on 30 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PONS/USDC PERP | −5.758% | +0.0033% | 1h | $590 | $11K | 5.5x | as long as short |
| Binance PONSUSDT | −0.555% | +0.0441% | 4h | $40.1M | $94.0M | 20x | as long as short |
| BingX PONS-USDT | −0.551% | +0.0452% | 4h | — | $3.1M | — | as long as short |
| OKX PONS-USDT-SWAP | −0.502% | +0.0133% | 4h | $13.9M | $53.9M | 20x | as long as short |
| KuCoin PONSUSDTM | −0.479% | +0.0240% | 4h | $1.7M | $3.1M | 20x | as long as short |
| Bybit PONSUSDT | −0.469% | +0.0278% | 4h | $18.6M | $28.1M | 20x | as long as short |
| Hyperliquid PONS | −0.416% | +0.0474% | 1h | $61.0M | $27.3M | 3x | as long as short |
| MEXC PONS_USDT | −0.403% | +0.0448% | 4h | $7.5M | $5.1M | 20x | as long as short |
| Aster PONSUSDT | −0.398% | +0.0100% | 4h | $1.1M | $2.1M | 20x | as long as short |
| Bitget PONSUSDT | −0.397% | +0.0240% | 4h | $4.7M | $10.9M | 20x | as long as short |
Show all 30 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| BloFin PONS-USDT | −0.370% | +0.0681% | 4h | $1.8M | $954K | 20x | as long as short |
| gTrade (Gains Network) PONS/USD | −0.363% | L +0.0032% / S −0.0031% | 1h | $219K | — | 150x | as long as short |
| SoDEX PONS-USD | −0.362% | +0.0100% | 1h | $27K | $468K | 3x | as long as short |
| SunX PONS-USDT | −0.357% | +0.0100% | 4h | — | $1.4M | 10x | as long as short |
| Gate PONS_USDT | −0.354% | −0.0700% | 4h | $5.4M | $7.5M | 20x | as long as short |
| Polymarket Perps PONS-USD | −0.351% | +0.0568% | 1h | $59K | $1.7M | 3x | as long as short |
| Extended PONS-USD | −0.338% | +0.0440% | 1h | $89K | $546K | 5x | as long as short |
| Lighter RH PONS | −0.306% | +0.0744% | 1h | $421K | $2.3M | 3x | as long as short |
| Nado PONS-PERP | −0.305% | +0.0314% | 1h | $110K | $68K | 5x | as long as short |
| Popdex PONSUSDT | −0.305% | +0.0096% | 1h | $19K | $473K | 20x | as long as short |
| Phemex PONSUSDT | −0.305% | +0.0100% | 4h | $1.7M | $3.3M | 20x | as long as short |
| Aevo PONS-PERP | −0.297% | +0.0192% | 1h | $378 | — | 3x | as long as short |
| Lighter PONS | −0.285% | +0.1384% | 1h | $1.8M | $785K | 3x | as long as short |
| Orderly PERP_PONS_USDC_mythos | −0.231% | +0.0100% | 4h | $2K | $2K | 10x | as long as short |
| Pacifica PONS | −0.042% | +0.0616% | 1h | $50K | $123K | 3x | as long as short |
| edgeX PONSUSDClong | 0.000% | +0.0465% | 4h | $21K | $292K | 10x | |
| HTX PONS-USDT | +0.047% | +0.0100% | 4h | $64K | $494K | 20x | as long as short |
| Phoenix PONSshort | +0.423% | +0.1528% | 1h | $24K | $61K | 3x | |
| ApeX Omni PONSUSDT | +0.457% | +0.0100% | 1h | $38K | $317K | 5x | as long as short |
| Variational Omni PONS | +0.526% | +0.0418% | 4h | $1.3M | $3.8M | — | as long as short |