Spread before costs (cost unknown: a leg has no order-book sample)−0.990%
7d average—if it closes, per $10,000$99funding while held, a day+$40.25
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX PONS-USDT-SWAP | 0.6280 | 0.0147 | pay 0.0073% / 4h | 6m 50s | $14.5M | $55.4M | 20x |
| Short | Phoenix PONS | 0.6218 | 0.1489 | get 0.0186% / 1h | 6m 50s | $25K | $51K | 3x |
OKX PONS-USDT-SWAP
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
- −$99.04
- Funding while held
- $40.25
- Slippage, 4 orders
- no order book: not counted
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$75.79
- Spread needed to break even
- 0.170%
Slippage unknown: OKX: live order book, 3 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.1342%
- Per $10,000 a day
- +$40.25
- 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 OKX live order book, 3 min ago | 1.61 bp | 11.0 bp −$11 | 30.2 bp −$302 | 360.0 bp −$36.0K | 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
Variational Omni0.6217+8.352%
Injective
Variational OmniPhoenix0.6218+8.362%
edgeX0.6220+8.396%ApeX Omni0.6221+8.425%gTrade (Gains Network)0.6252+8.955%Aevo0.6252+8.963%Phemex0.6255+9.010%Lighter RH0.6258+9.055%Popdex0.6259+9.080%BloFin0.6259+9.080%SunX0.6259+9.087%Polymarket Perps0.6260+9.101%Orderly0.6260+9.104%Nado0.6262+9.132%Pacifica0.6263+9.148%Lighter0.6263+9.150%HTX0.6265+9.177%KuCoin0.6268+9.231%SoDEX0.6270+9.270%BingX0.6271+9.289%Extended0.6271+9.292%Hyperliquid0.6271+9.294%MEXC0.6272+9.306%Aster0.6273+9.331%Bitget0.6276+9.380%Binance0.6277+9.387%
ApeX Omni
gTrade (Gains Network)
Aevo
Phemex
Lighter RH
Popdex
BloFin
SunX
Polymarket Perps
Orderly
Nado
Pacifica
Lighter
HTX
KuCoin
SoDEX
BingX
Extended
Hyperliquid
MEXC
Aster
Bitget
BinanceOKX0.6280+9.446%
Gate0.6280+9.446%Bybit0.6282+9.481%
Gate
BybitPONS on 30 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PONS/USDC PERP | −8.631% | +0.0033% | 1h | $590 | $15K | 5.5x | as long as short |
| Variational Omni PONS | −1.000% | +0.0537% | 4h | $1.7M | $3.5M | — | as long as short |
| Phoenix PONSshort | −0.990% | +0.1489% | 1h | $25K | $51K | 3x | |
| edgeX PONSUSDC | −0.959% | +0.0548% | 4h | $21K | $288K | 10x | as long as short |
| ApeX Omni PONSUSDT | −0.933% | +0.0100% | 1h | $39K | $314K | 5x | as long as short |
| gTrade (Gains Network) PONS/USD | −0.449% | L +0.0032% / S −0.0031% | 1h | $225K | — | 150x | as long as short |
| Aevo PONS-PERP | −0.442% | +0.0216% | 1h | $390 | — | 3x | as long as short |
| Phemex PONSUSDT | −0.398% | +0.0100% | 4h | $1.7M | $3.3M | 20x | as long as short |
| Lighter RH PONS | −0.357% | +0.0480% | 1h | $431K | $2.2M | 3x | as long as short |
| Popdex PONSUSDT | −0.334% | +0.0096% | 1h | $20K | $455K | 20x | as long as short |
Show all 30 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| BloFin PONS-USDT | −0.334% | +0.0781% | 4h | $1.9M | $926K | 20x | as long as short |
| SunX PONS-USDT | −0.328% | +0.0100% | 4h | — | $1.4M | 10x | as long as short |
| Polymarket Perps PONS-USD | −0.315% | +0.0570% | 1h | $67K | $1.8M | 3x | as long as short |
| Orderly PERP_PONS_USDC_mythos | −0.312% | +0.0100% | 4h | $2K | $2K | 10x | as long as short |
| Nado PONS-PERP | −0.287% | +0.0606% | 1h | $113K | $67K | 5x | as long as short |
| Pacifica PONS | −0.272% | +0.0472% | 1h | $50K | $126K | 3x | as long as short |
| Lighter PONS | −0.271% | +0.1136% | 1h | $1.8M | $772K | 3x | as long as short |
| HTX PONS-USDT | −0.245% | +0.0100% | 4h | $67K | $493K | 20x | as long as short |
| KuCoin PONSUSDTM | −0.196% | +0.0304% | 4h | $1.8M | $3.1M | 20x | as long as short |
| SoDEX PONS-USD | −0.161% | +0.0100% | 1h | $28K | $470K | 3x | as long as short |
| BingX PONS-USDT | −0.143% | +0.0606% | 4h | — | $3.1M | — | as long as short |
| Extended PONS-USD | −0.140% | +0.0544% | 1h | $94K | $533K | 5x | as long as short |
| Hyperliquid PONS | −0.139% | +0.1049% | 1h | $63.7M | $26.6M | 3x | as long as short |
| MEXC PONS_USDT | −0.127% | +0.0540% | 4h | $7.9M | $5.1M | 20x | as long as short |
| Aster PONSUSDT | −0.105% | +0.0253% | 4h | $1.1M | $2.2M | 20x | as long as short |
| Bitget PONSUSDT | −0.061% | +0.0382% | 4h | $4.9M | $10.8M | 20x | as long as short |
| Binance PONSUSDT | −0.054% | +0.0541% | 4h | $41.8M | $92.6M | 20x | as long as short |
| OKX PONS-USDT-SWAPlong | 0.000% | +0.0147% | 4h | $14.5M | $55.4M | 20x | |
| Gate PONS_USDT | 0.000% | −0.0200% | 4h | $5.6M | $7.3M | 20x | as long as short |
| Bybit PONSUSDT | +0.032% | +0.0632% | 4h | $20.1M | $27.1M | 20x | as long as short |