After costs, if the gap returns to its 7d average, $10k−$102
spread now−0.179%7d average0.000%fees + slippage, in and out−$84spread needed0.838%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PONSUSDT | 0.5977 | 0.0527 | pay 0.0264% / 4h | 3h 13m | $1.7M | $3.3M | 20x |
| Short | Polymarket Perps PONS-USD | 0.5966 | 0.0508 | get 0.0063% / 1h | 13m 51s | $54K | $1.8M | 3x |
Phemex PONSUSDT
Polymarket Perps PONS-USDPrice 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
- −$17.9
- Funding while held
- −$0.58
- Slippage, 4 orders
- −$63.81
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$102.29
- Spread needed to break even
- 0.838%
Slippage from Phemex: live order book, 1 min ago; Polymarket Perps: live order book, 1 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0019%
- Per $10,000 a day
- −$0.58
- 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 Phemex live order book, 1 min ago | 2.52 bp | 32.3 bp −$32 | doesn't fit | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 1 min ago | 2.26 bp | 7.5 bp −$8 | 9.0 bp −$90 | doesn't fit | doesn't fit |
PONS price on every exchange
against the cheapest. Click to use as the short leg.Injective0.5738cheapestVariational Omni0.5952+3.727%Pacifica0.5963+3.917%Nado0.5964+3.930%Aster0.5964+3.945%Popdex0.5965+3.956%Gate0.5965+3.956%SunX0.5965+3.956%gTrade (Gains Network)0.5965+3.960%BloFin0.5966+3.974%
Injective
Variational Omni
Pacifica
Nado
Aster
Popdex
Gate
SunX
gTrade (Gains Network)
BloFinPolymarket Perps0.5966+3.979%
OKX0.5968+4.008%BingX0.5968+4.008%KuCoin0.5969+4.033%Binance0.5970+4.043%edgeX0.5971+4.068%Lighter RH0.5972+4.076%Bybit0.5972+4.078%MEXC0.5972+4.078%Bitget0.5972+4.083%Extended0.5973+4.091%SoDEX0.5974+4.106%Aevo0.5974+4.109%Hyperliquid0.5975+4.130%Lighter0.5976+4.139%ApeX Omni0.5976+4.144%
OKX
BingX
KuCoin
Binance
Lighter RH
Bybit
MEXC
Bitget
Extended
SoDEX
Aevo
Hyperliquid
Lighter
ApeX OmniPhemex0.5977+4.165%
Orderly0.5982+4.254%HTX0.5984+4.282%Phoenix0.5990+4.387%
Orderly
HTX
PhoenixPONS on 30 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PONS/USDC PERP | −3.999% | +0.0033% | 1h | $590 | $11K | 5.5x | as long as short |
| Variational Omni PONS | −0.421% | +0.0368% | 4h | $1.2M | $3.9M | — | as long as short |
| Pacifica PONS | −0.239% | +0.0616% | 1h | $49K | $123K | 3x | as long as short |
| Nado PONS-PERP | −0.226% | +0.0318% | 1h | $114K | $71K | 5x | as long as short |
| Aster PONSUSDT | −0.211% | +0.0100% | 4h | $1.1M | $2.1M | 20x | as long as short |
| Popdex PONSUSDT | −0.201% | +0.0096% | 1h | $18K | $493K | 20x | as long as short |
| Gate PONS_USDT | −0.201% | −0.0450% | 4h | $5.4M | $7.7M | 20x | as long as short |
| SunX PONS-USDT | −0.201% | +0.0100% | 4h | — | $1.4M | 10x | as long as short |
| gTrade (Gains Network) PONS/USD | −0.197% | L +0.0032% / S −0.0031% | 1h | $215K | — | 150x | as long as short |
| BloFin PONS-USDT | −0.184% | +0.0621% | 4h | $1.8M | $956K | 20x | as long as short |
Show all 30 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Polymarket Perps PONS-USDshort | −0.179% | +0.0508% | 1h | $54K | $1.8M | 3x | |
| OKX PONS-USDT-SWAP | −0.151% | +0.0156% | 4h | $13.3M | $54.5M | 20x | as long as short |
| BingX PONS-USDT | −0.151% | +0.0408% | 4h | — | $3.2M | — | as long as short |
| KuCoin PONSUSDTM | −0.127% | +0.0212% | 4h | $1.7M | $3.2M | 20x | as long as short |
| Binance PONSUSDT | −0.117% | +0.0383% | 4h | $38.9M | $96.5M | 20x | as long as short |
| edgeX PONSUSDC | −0.093% | +0.0434% | 4h | $21K | $293K | 10x | as long as short |
| Lighter RH PONS | −0.085% | +0.0696% | 1h | $418K | $2.3M | 3x | as long as short |
| Bybit PONSUSDT | −0.084% | +0.0257% | 4h | $18.2M | $29.1M | 20x | as long as short |
| MEXC PONS_USDT | −0.084% | +0.0380% | 4h | $7.3M | $5.2M | 20x | as long as short |
| Bitget PONSUSDT | −0.079% | +0.0232% | 4h | $4.6M | $11.1M | 20x | as long as short |
| Extended PONS-USD | −0.071% | +0.0384% | 1h | $89K | $545K | 5x | as long as short |
| SoDEX PONS-USD | −0.057% | +0.0100% | 1h | $26K | $504K | 3x | as long as short |
| Aevo PONS-PERP | −0.054% | +0.0176% | 1h | $372 | — | 3x | as long as short |
| Hyperliquid PONS | −0.033% | +0.0431% | 1h | $59.8M | $28.2M | 3x | as long as short |
| Lighter PONS | −0.025% | +0.1200% | 1h | $1.7M | $825K | 3x | as long as short |
| ApeX Omni PONSUSDT | −0.020% | +0.0100% | 1h | $29K | $321K | 5x | as long as short |
| Phemex PONSUSDTlong | 0.000% | +0.0527% | 4h | $1.7M | $3.3M | 20x | |
| Orderly PERP_PONS_USDC_mythos | +0.085% | +0.0100% | 4h | $2K | $2K | 10x | as long as short |
| HTX PONS-USDT | +0.112% | +0.0100% | 4h | $63K | $497K | 20x | as long as short |
| Phoenix PONS | +0.212% | +0.1528% | 1h | $24K | $61K | 3x | as long as short |