PONS

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After costs, if the gap returns to its 7d average, $10k−$4,612

spread now+0.119%7d average+0.177%fees + slippage, in and out−$4,606spread needed46.061%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.5860	L +0.0032% / S −0.0032%	pay 0.0004% / 1h	2m 09s	$212K	—	150x
Short	Lighter RH PONS	0.5867	0.0096	get 0.0012% / 1h	2m 09s	$419K	$2.4M	3x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

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

Position, each leg$Hold forhoursFee gTrade (Gains Network)bpFee Lighter RHbpOrdersClose when spread is

Slippage from gTrade (Gains Network): virtual book (oracle venue), 33 min ago; Lighter RH: live order book, 2 min ago.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy gTrade (Gains Network) virtual book (oracle venue), 33 min ago	130.01 bp	2119.6 bp −$2,120	16867.8 bp −$168.7K	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	5.45 bp	6.6 bp −$7	37.0 bp −$370	doesn't fit	doesn't fit

against the cheapest. Click to use as the short leg.

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
gTrade (Gains Network) PONS/USDlong	0.000%	L +0.0032% / S −0.0032%	1h	$212K	—	150x
Bybit PONSUSDT	+0.018%	+0.0100%	4h	$17.3M	$31.2M	20x	as long as short
OKX PONS-USDT-SWAP	+0.035%	+0.0181%	4h	$13.1M	$55.6M	20x	as long as short
Injective PONS/USDC PERP	+0.051%	+0.0033%	1h	$603	$6K	5.5x	as long as short
Hyperliquid PONS	+0.059%	+0.0100%	1h	$58.4M	$29.8M	3x	as long as short
Gate PONS_USDT	+0.069%	−0.0016%	4h	$5.2M	$7.3M	20x	as long as short
BingX PONS-USDT	+0.086%	+0.0252%	4h	—	$3.2M	—	as long as short
Phemex PONSUSDT	+0.086%	+0.0100%	4h	$1.7M	$3.3M	20x	as long as short
Pacifica PONS	+0.092%	+0.0157%	1h	$46K	$116K	3x	as long as short
Nado PONS-PERP	+0.101%	+0.0100%	1h	$72K	$95K	5x	as long as short

Show all 30 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Polymarket Perps PONS-USD	+0.105%	+0.0440%	1h	$53K	$1.8M	3x	as long as short
Aster PONSUSDT	+0.109%	+0.0116%	4h	$1.1M	$2.1M	20x	as long as short
SoDEX PONS-USD	+0.109%	+0.0100%	1h	$27K	$534K	3x	as long as short
Lighter RH PONSshort	+0.119%	+0.0096%	1h	$419K	$2.4M	3x
Binance PONSUSDT	+0.120%	+0.0251%	4h	$37.9M	$99.1M	20x	as long as short
Popdex PONSUSDT	+0.120%	+0.0096%	1h	$20K	$502K	20x	as long as short
MEXC PONS_USDT	+0.120%	+0.0252%	4h	$7.1M	$5.4M	20x	as long as short
Bitget PONSUSDT	+0.124%	+0.0150%	4h	$4.6M	$11.5M	20x	as long as short
KuCoin PONSUSDTM	+0.126%	+0.0100%	4h	$1.7M	$3.5M	20x	as long as short
Variational Omni PONS	+0.133%	+0.0100%	4h	$1.2M	$4.1M	—	as long as short
Extended PONS-USD	+0.150%	+0.0248%	1h	$87K	$535K	5x	as long as short
Aevo PONS-PERP	+0.172%	+0.0144%	1h	$366	—	3x	as long as short
BloFin PONS-USDT	+0.172%	+0.0493%	4h	$1.7M	$969K	20x	as long as short
Lighter PONS	+0.209%	+0.0920%	1h	$1.7M	$874K	3x	as long as short
SunX PONS-USDT	+0.221%	+0.0100%	4h	—	$1.3M	10x	as long as short
Phoenix PONS	+0.223%	+0.1299%	1h	$27K	$70K	3x	as long as short
edgeX PONSUSDC	+0.236%	+0.0254%	4h	$20K	$293K	10x	as long as short
ApeX Omni PONSUSDT	+0.250%	+0.0100%	1h	$34K	$315K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.277%	+0.0100%	4h	$2K	$3K	10x	as long as short
HTX PONS-USDT	+0.486%	+0.0100%	4h	$62K	$503K	20x	as long as short