PONS

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After costs, if the gap returns to its 7d average, $10k−$66

spread now+0.005%7d average−0.036%fees + slippage, in and out−$70spread needed0.701%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PONS	0.6224	0.1068	pay 0.0134% / 1h	17m 48s	$63.2M	$26.6M	3x
Short	Extended PONS-USD	0.6224	0.0560	get 0.0070% / 1h	17m 48s	$93K	$533K	5x

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 HyperliquidbpFee ExtendedbpOrdersClose when spread is

Slippage from Hyperliquid: live order book, 7 min ago; Extended: live order book, 31 min ago.

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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hyperliquid live order book, 7 min ago	0.81 bp	11.4 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 31 min ago	12.60 bp	26.1 bp −$26	132.3 bp −$1,323	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
Injective PONS/USDC PERP	−7.804%	+0.0033%	1h	$590	$15K	5.5x	as long as short
BingX PONS-USDT	−0.236%	+0.0634%	4h	—	$3.1M	—	as long as short
Variational Omni PONS	−0.205%	+0.0558%	4h	$1.7M	$3.5M	—	as long as short
Phoenix PONS	−0.199%	+0.1489%	1h	$25K	$51K	3x	as long as short
edgeX PONSUSDC	−0.114%	+0.0560%	4h	$21K	$289K	10x	as long as short
Bitget PONSUSDT	−0.108%	+0.0418%	4h	$4.8M	$10.8M	20x	as long as short
OKX PONS-USDT-SWAP	−0.092%	+0.0148%	4h	$14.4M	$54.9M	20x	as long as short
KuCoin PONSUSDTM	−0.080%	+0.0350%	4h	$1.8M	$3.2M	20x	as long as short
ApeX Omni PONSUSDT	−0.066%	+0.0100%	1h	$39K	$318K	5x	as long as short
gTrade (Gains Network) PONS/USD	−0.065%	L +0.0032% / S −0.0031%	1h	$224K	—	150x	as long as short

Show all 30 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Bybit PONSUSDT	−0.059%	+0.0663%	4h	$19.8M	$27.2M	20x	as long as short
Phemex PONSUSDT	−0.027%	+0.0100%	4h	$1.7M	$3.3M	20x	as long as short
Lighter RH PONS	−0.014%	+0.0392%	1h	$434K	$2.2M	3x	as long as short
SunX PONS-USDT	−0.014%	+0.0100%	4h	—	$1.4M	10x	as long as short
Binance PONSUSDT	−0.005%	+0.0559%	4h	$41.4M	$93.2M	20x	as long as short
Hyperliquid PONSlong	0.000%	+0.1068%	1h	$63.2M	$26.6M	3x
Extended PONS-USDshort	+0.005%	+0.0560%	1h	$93K	$533K	5x
Gate PONS_USDT	+0.021%	+0.0074%	4h	$5.5M	$7.3M	20x	as long as short
MEXC PONS_USDT	+0.021%	+0.0550%	4h	$7.9M	$5.1M	20x	as long as short
Lighter PONS	+0.045%	+0.1048%	1h	$1.8M	$772K	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.058%	+0.0100%	4h	$2K	$2K	10x	as long as short
HTX PONS-USDT	+0.059%	+0.0100%	4h	$66K	$496K	20x	as long as short
Nado PONS-PERP	+0.066%	+0.0652%	1h	$113K	$67K	5x	as long as short
SoDEX PONS-USD	+0.071%	+0.0100%	1h	$28K	$472K	3x	as long as short
Aevo PONS-PERP	+0.093%	+0.0216%	1h	$388	—	3x	as long as short
Aster PONSUSDT	+0.111%	+0.0223%	4h	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.116%	+0.0536%	1h	$67K	$1.8M	3x	as long as short
Popdex PONSUSDT	+0.117%	+0.0096%	1h	$19K	$463K	20x	as long as short
Pacifica PONS	+0.129%	+0.0472%	1h	$50K	$166K	3x	as long as short
BloFin PONS-USDT	+0.198%	+0.0790%	4h	$1.9M	$913K	20x	as long as short