Spread before costs (cost unknown: a leg has no order-book sample)+0.330%
7d average—if it closes, per $10,000$33funding while held, a day+$42.96
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Popdex PONSUSDT | 0.5970 | 0.0096 | pay 0.0012% / 1h | 17m 19s | $19K | $493K | 20x |
| Short | Phoenix PONS | 0.5990 | 0.1528 | get 0.0191% / 1h | 17m 19s | $24K | $61K | 3x |
Popdex PONSUSDT
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
- $33
- Funding while held
- $42.96
- Slippage, 4 orders
- no order book: not counted
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $62.56
- Spread needed to break even
- 0.134%
Slippage unknown: Popdex: live order book, 28 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.1432%
- Per $10,000 a day
- +$42.96
- 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 Popdex live order book, 28 min ago | 6.26 bp | 100.2 bp −$100 | doesn't fit | doesn't fit | 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.Injective0.5738cheapestAster0.5951+3.712%ApeX Omni0.5959+3.850%SunX0.5960+3.862%Gate0.5960+3.869%Lighter RH0.5963+3.928%KuCoin0.5964+3.944%BloFin0.5965+3.956%SoDEX0.5966+3.965%Nado0.5966+3.965%Pacifica0.5967+3.990%Lighter0.5969+4.022%Polymarket Perps0.5969+4.022%Hyperliquid0.5969+4.033%Extended0.5970+4.043%
Injective
Aster
ApeX Omni
SunX
Gate
Lighter RH
KuCoin
BloFin
SoDEX
Nado
Pacifica
Lighter
Polymarket Perps
Hyperliquid
ExtendedPopdex0.5970+4.043%
MEXC0.5971+4.061%edgeX0.5971+4.068%gTrade (Gains Network)0.5972+4.075%Aevo0.5972+4.078%BingX0.5973+4.096%Orderly0.5974+4.106%OKX0.5975+4.130%Binance0.5976+4.152%Bybit0.5979+4.200%Bitget0.5980+4.224%HTX0.5981+4.240%Phemex0.5982+4.252%
MEXC
gTrade (Gains Network)
Aevo
BingX
Orderly
OKX
Binance
Bybit
Bitget
HTX
PhemexPhoenix0.5990+4.387%
Variational Omni0.6090+6.130%
Variational OmniPONS on 30 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PONS/USDC PERP | −3.886% | +0.0033% | 1h | $590 | $11K | 5.5x | as long as short |
| Aster PONSUSDT | −0.318% | +0.0100% | 4h | $1.1M | $2.1M | 20x | as long as short |
| ApeX Omni PONSUSDT | −0.186% | +0.0100% | 1h | $29K | $321K | 5x | as long as short |
| SunX PONS-USDT | −0.174% | +0.0100% | 4h | — | $1.4M | 10x | as long as short |
| Gate PONS_USDT | −0.168% | −0.0614% | 4h | $5.4M | $7.6M | 20x | as long as short |
| Lighter RH PONS | −0.111% | +0.0728% | 1h | $418K | $2.3M | 3x | as long as short |
| KuCoin PONSUSDTM | −0.095% | +0.0206% | 4h | $1.7M | $3.2M | 20x | as long as short |
| BloFin PONS-USDT | −0.084% | +0.0669% | 4h | $1.8M | $963K | 20x | as long as short |
| SoDEX PONS-USD | −0.075% | +0.0100% | 1h | $27K | $501K | 3x | as long as short |
| Nado PONS-PERP | −0.075% | +0.0296% | 1h | $108K | $68K | 5x | as long as short |
Show all 30 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Pacifica PONS | −0.051% | +0.0616% | 1h | $49K | $123K | 3x | as long as short |
| Lighter PONS | −0.020% | +0.1248% | 1h | $1.7M | $793K | 3x | as long as short |
| Polymarket Perps PONS-USD | −0.020% | +0.0510% | 1h | $50K | $1.8M | 3x | as long as short |
| Hyperliquid PONS | −0.010% | +0.0445% | 1h | $59.7M | $28.1M | 3x | as long as short |
| Extended PONS-USD | 0.000% | +0.0392% | 1h | $89K | $546K | 5x | as long as short |
| Popdex PONSUSDTlong | 0.000% | +0.0096% | 1h | $19K | $493K | 20x | |
| MEXC PONS_USDT | +0.017% | +0.0392% | 4h | $7.2M | $5.2M | 20x | as long as short |
| edgeX PONSUSDC | +0.024% | +0.0434% | 4h | $21K | $293K | 10x | as long as short |
| gTrade (Gains Network) PONS/USD | +0.030% | L +0.0032% / S −0.0031% | 1h | $215K | — | 150x | as long as short |
| Aevo PONS-PERP | +0.034% | +0.0192% | 1h | $372 | — | 3x | as long as short |
| BingX PONS-USDT | +0.050% | +0.0434% | 4h | — | $3.2M | — | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.060% | +0.0100% | 4h | $2K | $2K | 10x | as long as short |
| OKX PONS-USDT-SWAP | +0.084% | +0.0138% | 4h | $13.4M | $54.2M | 20x | as long as short |
| Binance PONSUSDT | +0.105% | +0.0388% | 4h | $39.3M | $96.2M | 20x | as long as short |
| Bybit PONSUSDT | +0.151% | +0.0214% | 4h | $18.3M | $29.0M | 20x | as long as short |
| Bitget PONSUSDT | +0.174% | +0.0228% | 4h | $4.6M | $11.1M | 20x | as long as short |
| HTX PONS-USDT | +0.189% | +0.0100% | 4h | $63K | $495K | 20x | as long as short |
| Phemex PONSUSDT | +0.201% | +0.0494% | 4h | $1.7M | $3.3M | 20x | as long as short |
| Phoenix PONSshort | +0.330% | +0.1528% | 1h | $24K | $61K | 3x | |
| Variational Omni PONS | +2.005% | +0.0403% | 4h | $1.3M | $3.7M | — | as long as short |