Spread before costs (cost unknown: a leg has no order-book sample)+0.693%
7d average—if it closes, per $10,000$69funding while held, a day−$36.43
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix PONS | 0.6369 | 0.1767 | pay 0.0221% / 1h | 5m 17s | $26K | $45K | 3x |
| Short | Variational Omni PONS | 0.6413 | 0.0553 | get 0.0277% / 4h | 1h 05m | $1.9M | $3.4M | — |
Phoenix PONS
Variational Omni 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
- $69.27
- Funding while held
- −$36.43
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- $25.84
- Spread needed to break even
- 0.070%
Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, just now. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.1214%
- Per $10,000 a day
- −$36.43
- 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 Variational Omni RFQ quote, just now | 6.26 bp | doesn't fit | 31.3 bp −$313 | 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
edgeX0.6368+10.984%
InjectivePhoenix0.6369+10.992%
gTrade (Gains Network)0.6382+11.227%BingX0.6388+11.328%OKX0.6389+11.345%KuCoin0.6392+11.399%Extended0.6393+11.409%Bybit0.6393+11.415%SoDEX0.6393+11.415%Phemex0.6393+11.415%MEXC0.6394+11.433%Pacifica0.6394+11.438%Binance0.6396+11.459%BloFin0.6396+11.467%Bitget0.6396+11.474%Nado0.6397+11.480%Gate0.6397+11.485%Lighter RH0.6398+11.497%Aevo0.6399+11.521%Hyperliquid0.6400+11.536%Popdex0.6401+11.555%Lighter0.6401+11.560%Orderly0.6401+11.560%SunX0.6401+11.563%Polymarket Perps0.6402+11.567%HTX0.6403+11.588%Aster0.6407+11.652%ApeX Omni0.6409+11.689%
gTrade (Gains Network)
BingX
OKX
KuCoin
Extended
Bybit
SoDEX
Phemex
MEXC
Pacifica
Binance
BloFin
Bitget
Nado
Gate
Lighter RH
Aevo
Hyperliquid
Popdex
Lighter
Orderly
SunX
Polymarket Perps
HTX
Aster
ApeX OmniVariational Omni0.6413+11.760%
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 | −9.903% | +0.0033% | 1h | $590 | $15K | 5.5x | as long as short |
| edgeX PONSUSDC | −0.006% | +0.0658% | 4h | $22K | $288K | 10x | as long as short |
| Phoenix PONSlong | 0.000% | +0.1767% | 1h | $26K | $45K | 3x | |
| gTrade (Gains Network) PONS/USD | +0.212% | L +0.0032% / S −0.0032% | 1h | $228K | — | 150x | as long as short |
| BingX PONS-USDT | +0.303% | +0.0652% | 4h | — | $2.9M | — | as long as short |
| OKX PONS-USDT-SWAP | +0.319% | +0.0193% | 4h | $15.1M | $57.4M | 20x | as long as short |
| KuCoin PONSUSDTM | +0.367% | +0.0580% | 4h | $1.9M | $2.8M | 20x | as long as short |
| Extended PONS-USD | +0.376% | +0.0664% | 1h | $162K | $473K | 5x | as long as short |
| Bybit PONSUSDT | +0.382% | +0.0702% | 4h | $20.8M | $26.8M | 20x | as long as short |
| SoDEX PONS-USD | +0.382% | +0.0100% | 1h | $29K | $479K | 3x | as long as short |
Show all 30 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Phemex PONSUSDT | +0.382% | +0.0100% | 4h | $1.8M | $3.4M | 20x | as long as short |
| MEXC PONS_USDT | +0.397% | +0.0660% | 4h | $8.2M | $5.0M | 20x | as long as short |
| Pacifica PONS | +0.402% | +0.0858% | 1h | $49K | $166K | 3x | as long as short |
| Binance PONSUSDT | +0.421% | +0.0662% | 4h | $43.1M | $93.4M | 20x | as long as short |
| BloFin PONS-USDT | +0.429% | +0.0902% | 4h | $1.9M | $925K | 20x | as long as short |
| Bitget PONSUSDT | +0.435% | +0.0614% | 4h | $5.0M | $10.6M | 20x | as long as short |
| Nado PONS-PERP | +0.440% | +0.0509% | 1h | $117K | $71K | 5x | as long as short |
| Gate PONS_USDT | +0.444% | +0.0496% | 4h | $5.7M | $7.3M | 20x | as long as short |
| Lighter RH PONS | +0.455% | +0.0424% | 1h | $442K | $2.2M | 3x | as long as short |
| Aevo PONS-PERP | +0.477% | +0.0240% | 1h | $399 | — | 3x | as long as short |
| Hyperliquid PONS | +0.491% | +0.1025% | 1h | $65.2M | $25.9M | 3x | as long as short |
| Popdex PONSUSDT | +0.507% | +0.0096% | 1h | $20K | $471K | 20x | as long as short |
| Lighter PONS | +0.512% | +0.0936% | 1h | $1.8M | $736K | 3x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.512% | +0.0100% | 4h | $2K | $2K | 10x | as long as short |
| SunX PONS-USDT | +0.515% | +0.0100% | 4h | — | $1.3M | 10x | as long as short |
| Polymarket Perps PONS-USD | +0.518% | +0.0561% | 1h | $80K | $1.8M | 3x | as long as short |
| HTX PONS-USDT | +0.537% | +0.0100% | 4h | $67K | $494K | 20x | as long as short |
| Aster PONSUSDT | +0.595% | +0.0461% | 4h | $1.1M | $2.2M | 20x | as long as short |
| ApeX Omni PONSUSDT | +0.628% | +0.0100% | 1h | $40K | $316K | 5x | as long as short |
| Variational Omni PONSshort | +0.693% | +0.0553% | 4h | $1.9M | $3.4M | — |