Spread before costs (cost unknown: a leg has no order-book sample)−7.804%
7d average—if it closes, per $10,000$780funding while held, a day−$31.05
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PONS | 0.6224 | 0.1068 | pay 0.0134% / 1h | 18m 02s | $63.2M | $26.6M | 3x |
| Short | Injective PONS/USDC PERP | 0.5738 | 0.0033 | get 0.0004% / 1h | 18m 02s | $590 | $15K | 5.5x |
Hyperliquid PONS
Injective PONS/USDC PERPPrice 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
- −$780.4
- Funding while held
- −$31.05
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$820.47
- Spread needed to break even
- 0.090%
Slippage unknown: Hyperliquid: live order book, 7 min ago; Injective: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.1035%
- Per $10,000 a day
- −$31.05
- 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 Hyperliquid live order book, 7 min ago | 0.81 bp | 11.4 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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 price on every exchange
against the cheapest. Click to use as the short leg.Injective0.5738cheapest
Variational Omni0.6211+8.243%Phoenix0.6211+8.249%BingX0.6215+8.313%edgeX0.6217+8.341%KuCoin0.6218+8.367%ApeX Omni0.6220+8.393%gTrade (Gains Network)0.6220+8.394%Extended0.6220+8.404%Gate0.6222+8.435%Phemex0.6222+8.435%Lighter RH0.6223+8.449%SunX0.6223+8.449%OKX0.6223+8.452%MEXC0.6223+8.452%
Variational Omni
Phoenix
BingX
KuCoin
ApeX Omni
gTrade (Gains Network)
Extended
Gate
Phemex
Lighter RH
SunX
OKX
MEXCHyperliquid0.6224+8.465%
Binance0.6225+8.492%Bitget0.6226+8.499%Aster0.6226+8.503%Lighter0.6227+8.513%Bybit0.6227+8.522%Orderly0.6227+8.527%HTX0.6227+8.529%Nado0.6228+8.536%SoDEX0.6228+8.541%Aevo0.6230+8.566%Polymarket Perps0.6231+8.590%Popdex0.6231+8.592%Pacifica0.6232+8.605%BloFin0.6236+8.679%
Binance
Bitget
Aster
Lighter
Bybit
Orderly
HTX
Nado
SoDEX
Aevo
Polymarket Perps
Popdex
Pacifica
BloFinPONS on 30 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PONS/USDC PERPshort | −7.804% | +0.0033% | 1h | $590 | $15K | 5.5x | |
| Variational Omni PONS | −0.205% | +0.0558% | 4h | $1.7M | $3.5M | — | as long as short |
| Phoenix PONS | −0.199% | +0.1489% | 1h | $25K | $51K | 3x | as long as short |
| BingX PONS-USDT | −0.140% | +0.0634% | 4h | — | $3.1M | — | as long as short |
| edgeX PONSUSDC | −0.114% | +0.0560% | 4h | $21K | $289K | 10x | as long as short |
| KuCoin PONSUSDTM | −0.090% | +0.0350% | 4h | $1.8M | $3.2M | 20x | as long as short |
| ApeX Omni PONSUSDT | −0.066% | +0.0100% | 1h | $39K | $318K | 5x | as long as short |
| gTrade (Gains Network) PONS/USD | −0.065% | L +0.0032% / S −0.0031% | 1h | $224K | — | 150x | as long as short |
| Extended PONS-USD | −0.056% | +0.0560% | 1h | $93K | $533K | 5x | as long as short |
| Gate PONS_USDT | −0.027% | +0.0074% | 4h | $5.5M | $7.3M | 20x | as long as short |
Show all 30 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Phemex PONSUSDT | −0.027% | +0.0100% | 4h | $1.7M | $3.3M | 20x | as long as short |
| Lighter RH PONS | −0.014% | +0.0392% | 1h | $434K | $2.2M | 3x | as long as short |
| SunX PONS-USDT | −0.014% | +0.0100% | 4h | — | $1.4M | 10x | as long as short |
| OKX PONS-USDT-SWAP | −0.011% | +0.0148% | 4h | $14.4M | $55.0M | 20x | as long as short |
| MEXC PONS_USDT | −0.011% | +0.0550% | 4h | $7.9M | $5.1M | 20x | as long as short |
| Hyperliquid PONSlong | 0.000% | +0.1068% | 1h | $63.2M | $26.6M | 3x | |
| Binance PONSUSDT | +0.026% | +0.0559% | 4h | $41.5M | $93.2M | 20x | as long as short |
| Bitget PONSUSDT | +0.032% | +0.0418% | 4h | $4.8M | $10.8M | 20x | as long as short |
| Aster PONSUSDT | +0.035% | +0.0223% | 4h | $1.1M | $2.2M | 20x | as long as short |
| Lighter PONS | +0.045% | +0.1048% | 1h | $1.8M | $772K | 3x | as long as short |
| Bybit PONSUSDT | +0.053% | +0.0663% | 4h | $19.9M | $27.2M | 20x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.058% | +0.0100% | 4h | $2K | $2K | 10x | as long as short |
| HTX PONS-USDT | +0.059% | +0.0100% | 4h | $66K | $496K | 20x | as long as short |
| Nado PONS-PERP | +0.066% | +0.0652% | 1h | $113K | $67K | 5x | as long as short |
| SoDEX PONS-USD | +0.071% | +0.0100% | 1h | $28K | $472K | 3x | as long as short |
| Aevo PONS-PERP | +0.093% | +0.0216% | 1h | $388 | — | 3x | as long as short |
| Polymarket Perps PONS-USD | +0.116% | +0.0536% | 1h | $67K | $1.8M | 3x | as long as short |
| Popdex PONSUSDT | +0.117% | +0.0096% | 1h | $19K | $463K | 20x | as long as short |
| Pacifica PONS | +0.129% | +0.0472% | 1h | $50K | $166K | 3x | as long as short |
| BloFin PONS-USDT | +0.198% | +0.0790% | 4h | $1.9M | $913K | 20x | as long as short |