PONS

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After costs, if the gap returns to its 7d average, $10k−$55

spread now−0.157%7d average−0.030%fees + slippage, in and out−$43spread needed0.425%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PONS	0.6373	0.1416	pay 0.0177% / 1h	52m 18s	$1.8M	$710K	3x
Short	BingX PONS-USDT	0.6363	0.0710	get 0.0355% / 4h	52m 18s	—	$2.9M	—

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 LighterbpFee BingXbpOrdersClose when spread is

Slippage from Lighter: live order book, 6 min ago; BingX: live order book, 4 min ago.

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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 6 min ago	8.20 bp	11.3 bp −$11	19.4 bp −$194	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	0.79 bp	11.7 bp −$12	39.6 bp −$396	157.1 bp −$15.7K	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	−9.964%	+0.0033%	1h	$590	$15K	5.5x	as long as short
Phoenix PONS	−0.466%	+0.1489%	1h	$26K	$51K	3x	as long as short
Variational Omni PONS	−0.337%	+0.0573%	4h	$1.8M	$3.4M	—	as long as short
Phemex PONSUSDT	−0.282%	+0.0100%	4h	$1.8M	$3.3M	20x	as long as short
edgeX PONSUSDC	−0.214%	+0.0628%	4h	$22K	$288K	10x	as long as short
ApeX Omni PONSUSDT	−0.207%	+0.0100%	1h	$40K	$317K	5x	as long as short
BloFin PONS-USDT	−0.173%	+0.0867%	4h	$1.9M	$925K	20x	as long as short
gTrade (Gains Network) PONS/USD	−0.160%	L +0.0032% / S −0.0031%	1h	$229K	—	150x	as long as short
BingX PONS-USDTshort	−0.157%	+0.0710%	4h	—	$2.9M	—
Pacifica PONS	−0.066%	+0.0472%	1h	$49K	$166K	3x	as long as short

Show all 30 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
OKX PONS-USDT-SWAP	−0.047%	+0.0179%	4h	$15.1M	$56.2M	20x	as long as short
Lighter RH PONS	−0.041%	+0.0248%	1h	$439K	$2.2M	3x	as long as short
Aster PONSUSDT	−0.021%	+0.0415%	4h	$1.1M	$2.1M	20x	as long as short
Aevo PONS-PERP	−0.017%	+0.0240%	1h	$397	—	3x	as long as short
Bybit PONSUSDT	−0.016%	+0.0754%	4h	$20.7M	$26.8M	20x	as long as short
Extended PONS-USD	−0.008%	+0.0624%	1h	$161K	$471K	5x	as long as short
Bitget PONSUSDT	−0.003%	+0.0570%	4h	$5.0M	$10.7M	20x	as long as short
KuCoin PONSUSDTM	−0.002%	+0.0550%	4h	$1.9M	$2.9M	20x	as long as short
Lighter PONSlong	0.000%	+0.1416%	1h	$1.8M	$710K	3x
Binance PONSUSDT	0.000%	+0.0625%	4h	$42.7M	$93.1M	20x	as long as short
Gate PONS_USDT	0.000%	+0.0224%	4h	$5.7M	$6.8M	20x	as long as short
MEXC PONS_USDT	0.000%	+0.0626%	4h	$8.2M	$4.9M	20x	as long as short
SoDEX PONS-USD	+0.003%	+0.0100%	1h	$29K	$475K	3x	as long as short
Polymarket Perps PONS-USD	+0.020%	+0.0654%	1h	$77K	$1.8M	3x	as long as short
Nado PONS-PERP	+0.032%	+0.0728%	1h	$117K	$71K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.044%	+0.0100%	4h	$2K	$2K	10x	as long as short
Popdex PONSUSDT	+0.047%	+0.0096%	1h	$20K	$470K	20x	as long as short
SunX PONS-USDT	+0.071%	+0.0100%	4h	—	$1.3M	10x	as long as short
HTX PONS-USDT	+0.129%	+0.0100%	4h	$67K	$493K	20x	as long as short
Hyperliquid PONS	+0.133%	+0.1203%	1h	$65.0M	$26.0M	3x	as long as short