PONS

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+0.382%

7d average—if it closes, per $10,000$38funding while held, a day−$41.56

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix PONS	0.6342	0.1767	pay 0.0221% / 1h	58m 57s	$26K	$45K	3x
Short	Gate PONS_USDT	0.6366	0.0382	get 0.0191% / 4h	58m 57s	$5.7M	$6.8M	20x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee PhoenixbpFee GatebpOrdersClose when spread is

Spread captured: $38.16
Funding while held: −$41.56
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$25.4
Spread needed to break even: 0.220%

Slippage unknown: Phoenix: no order-book sample; Gate: live order book, 1 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.1385%
Per $10,000 a day: −$41.56
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 Gate live order book, 1 min ago	3.94 bp	26.7 bp −$27	79.8 bp −$798	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.

PONS on 30 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PONS/USDC PERP	−9.521%	+0.0033%	1h	$590	$15K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	−0.241%	L +0.0032% / S −0.0032%	1h	$226K	—	150x	as long as short
Aevo PONS-PERP	−0.176%	+0.0240%	1h	$394	—	3x	as long as short
Popdex PONSUSDT	−0.155%	+0.0096%	1h	$20K	$471K	20x	as long as short
Phemex PONSUSDT	−0.155%	+0.0100%	4h	$1.7M	$3.4M	20x	as long as short
Orderly PERP_PONS_USDC_mythos	−0.153%	+0.0100%	4h	$2K	$2K	10x	as long as short
SoDEX PONS-USD	−0.143%	+0.0100%	1h	$28K	$476K	3x	as long as short
Polymarket Perps PONS-USD	−0.104%	+0.0100%	1h	$81K	$1.8M	3x	as long as short
Nado PONS-PERP	−0.091%	+0.0662%	1h	$116K	$71K	5x	as long as short
Lighter RH PONS	−0.071%	+0.0248%	1h	$443K	$2.1M	3x	as long as short

Show all 30 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
BloFin PONS-USDT	−0.060%	+0.0872%	4h	$1.9M	$918K	20x	as long as short
Lighter PONS	−0.058%	+0.0888%	1h	$1.8M	$710K	3x	as long as short
KuCoin PONSUSDTM	−0.039%	+0.0568%	4h	$1.9M	$2.8M	20x	as long as short
Pacifica PONS	−0.002%	+0.0858%	1h	$49K	$166K	3x	as long as short
Phoenix PONSlong	0.000%	+0.1767%	1h	$26K	$45K	3x
SunX PONS-USDT	+0.028%	+0.0100%	4h	—	$1.3M	10x	as long as short
Extended PONS-USD	+0.135%	+0.0632%	1h	$160K	$472K	5x	as long as short
BingX PONS-USDT	+0.161%	+0.0668%	4h	—	$2.9M	—	as long as short
MEXC PONS_USDT	+0.192%	+0.0638%	4h	$8.2M	$4.9M	20x	as long as short
Aster PONSUSDT	+0.221%	+0.0445%	4h	$1.1M	$2.2M	20x	as long as short
HTX PONS-USDT	+0.243%	+0.0100%	4h	$66K	$493K	20x	as long as short
Hyperliquid PONS	+0.265%	+0.1297%	1h	$64.8M	$26.0M	3x	as long as short
OKX PONS-USDT-SWAP	+0.271%	+0.0172%	4h	$15.1M	$56.9M	20x	as long as short
Binance PONSUSDT	+0.350%	+0.0632%	4h	$42.9M	$93.7M	20x	as long as short
Bybit PONSUSDT	+0.350%	+0.0754%	4h	$20.8M	$26.9M	20x	as long as short
Bitget PONSUSDT	+0.377%	+0.0596%	4h	$5.0M	$10.7M	20x	as long as short
Gate PONS_USDTshort	+0.382%	+0.0382%	4h	$5.7M	$6.8M	20x
edgeX PONSUSDC	+0.444%	+0.0662%	4h	$22K	$290K	10x	as long as short
Variational Omni PONS	+0.524%	+0.0574%	4h	$1.9M	$3.3M	—	as long as short
ApeX Omni PONSUSDT	+0.711%	+0.0100%	1h	$40K	$316K	5x	as long as short