Spread before costs (cost unknown: a leg has no order-book sample)+0.805%
7d average—if it closes, per $10,000$81funding while held, a day−$28.34
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix PONS | 0.6218 | 0.1489 | pay 0.0186% / 1h | 7m 47s | $25K | $51K | 3x |
| Short | Extended PONS-USD | 0.6268 | 0.0544 | get 0.0068% / 1h | 7m 47s | $94K | $533K | 5x |
Phoenix PONS
Extended 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
- $80.51
- Funding while held
- −$28.34
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- $40.17
- Spread needed to break even
- 0.120%
Slippage unknown: Phoenix: no order-book sample; Extended: live order book, 41 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0945%
- Per $10,000 a day
- −$28.34
- 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Extended live order book, 41 min ago | 12.60 bp | 26.1 bp −$26 | 132.3 bp −$1,323 | doesn't fit | doesn't fit |
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%BloFin0.6235+8.662%Pacifica0.6251+8.947%BingX0.6253+8.975%gTrade (Gains Network)0.6254+8.992%Phemex0.6258+9.062%KuCoin0.6259+9.073%Polymarket Perps0.6260+9.101%Aevo0.6260+9.104%HTX0.6261+9.108%Aster0.6261+9.111%Orderly0.6261+9.122%Lighter RH0.6262+9.130%OKX0.6262+9.132%Popdex0.6262+9.132%MEXC0.6262+9.132%Nado0.6262+9.139%Bybit0.6263+9.150%Binance0.6265+9.184%SoDEX0.6265+9.186%Lighter0.6266+9.197%Bitget0.6267+9.211%SunX0.6267+9.217%
ApeX Omni
BloFin
Pacifica
BingX
gTrade (Gains Network)
Phemex
KuCoin
Polymarket Perps
Aevo
HTX
Aster
Orderly
Lighter RH
OKX
Popdex
MEXC
Nado
Bybit
Binance
SoDEX
Lighter
Bitget
SunXExtended0.6268+9.234%
Hyperliquid0.6268+9.235%Gate0.6272+9.306%
Hyperliquid
GatePONS on 30 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PONS/USDC PERP | −7.717% | +0.0033% | 1h | $590 | $15K | 5.5x | as long as short |
| Variational Omni PONS | −0.009% | +0.0537% | 4h | $1.7M | $3.5M | — | as long as short |
| Phoenix PONSlong | 0.000% | +0.1489% | 1h | $25K | $51K | 3x | |
| edgeX PONSUSDC | +0.032% | +0.0548% | 4h | $21K | $288K | 10x | as long as short |
| ApeX Omni PONSUSDT | +0.058% | +0.0100% | 1h | $39K | $314K | 5x | as long as short |
| BloFin PONS-USDT | +0.277% | +0.0778% | 4h | $1.9M | $918K | 20x | as long as short |
| Pacifica PONS | +0.540% | +0.0472% | 1h | $50K | $126K | 3x | as long as short |
| BingX PONS-USDT | +0.566% | +0.0618% | 4h | — | $3.1M | — | as long as short |
| gTrade (Gains Network) PONS/USD | +0.581% | L +0.0032% / S −0.0031% | 1h | $225K | — | 150x | as long as short |
| Phemex PONSUSDT | +0.647% | +0.0100% | 4h | $1.7M | $3.3M | 20x | as long as short |
Show all 30 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin PONSUSDTM | +0.656% | +0.0308% | 4h | $1.8M | $3.1M | 20x | as long as short |
| Polymarket Perps PONS-USD | +0.682% | +0.0569% | 1h | $67K | $1.8M | 3x | as long as short |
| Aevo PONS-PERP | +0.684% | +0.0216% | 1h | $390 | — | 3x | as long as short |
| HTX PONS-USDT | +0.688% | +0.0100% | 4h | $67K | $493K | 20x | as long as short |
| Aster PONSUSDT | +0.692% | +0.0217% | 4h | $1.1M | $2.2M | 20x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.701% | +0.0100% | 4h | $2K | $2K | 10x | as long as short |
| Lighter RH PONS | +0.709% | +0.0424% | 1h | $431K | $2.2M | 3x | as long as short |
| OKX PONS-USDT-SWAP | +0.711% | +0.0152% | 4h | $14.5M | $55.2M | 20x | as long as short |
| Popdex PONSUSDT | +0.711% | +0.0096% | 1h | $19K | $455K | 20x | as long as short |
| MEXC PONS_USDT | +0.711% | +0.0536% | 4h | $7.9M | $5.1M | 20x | as long as short |
| Nado PONS-PERP | +0.717% | +0.0603% | 1h | $113K | $67K | 5x | as long as short |
| Bybit PONSUSDT | +0.727% | +0.0632% | 4h | $20.0M | $27.1M | 20x | as long as short |
| Binance PONSUSDT | +0.759% | +0.0541% | 4h | $41.7M | $92.6M | 20x | as long as short |
| SoDEX PONS-USD | +0.761% | +0.0100% | 1h | $28K | $470K | 3x | as long as short |
| Lighter PONS | +0.770% | +0.1112% | 1h | $1.8M | $772K | 3x | as long as short |
| Bitget PONSUSDT | +0.783% | +0.0382% | 4h | $4.9M | $10.8M | 20x | as long as short |
| SunX PONS-USDT | +0.790% | +0.0100% | 4h | — | $1.4M | 10x | as long as short |
| Extended PONS-USDshort | +0.805% | +0.0544% | 1h | $94K | $533K | 5x | |
| Hyperliquid PONS | +0.806% | +0.1053% | 1h | $63.7M | $26.6M | 3x | as long as short |
| Gate PONS_USDT | +0.872% | −0.0182% | 4h | $5.6M | $7.3M | 20x | as long as short |