PONS

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After costs, if the gap returns to its 7d average, $10k−$69

spread now−0.233%7d average−0.002%fees + slippage, in and out−$46spread needed0.458%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH PONS	0.6352	0.0304	pay 0.0038% / 1h	46m 54s	$451K	$2.2M	3x
Short	BingX PONS-USDT	0.6337	0.0718	get 0.0359% / 4h	1h 46m	—	$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 Lighter RHbpFee BingXbpOrdersClose when spread is

Slippage from Lighter RH: live order book, 3 min ago; BingX: live order book, 9 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 RH live order book, 3 min ago	7.57 bp	12.6 bp −$13	42.7 bp −$427	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	2.36 bp	13.4 bp −$13	33.8 bp −$338	150.7 bp −$15.1K	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	−9.663%	+0.0033%	1h	$590	$15K	5.5x	as long as short
BingX PONS-USDTshort	−0.233%	+0.0718%	4h	—	$2.9M	—
gTrade (Gains Network) PONS/USD	−0.202%	L +0.0032% / S −0.0032%	1h	$227K	—	150x	as long as short
Popdex PONSUSDT	−0.139%	+0.0096%	1h	$20K	$470K	20x	as long as short
Nado PONS-PERP	−0.123%	+0.0540%	1h	$116K	$67K	5x	as long as short
Bybit PONSUSDT	−0.123%	+0.0667%	4h	$20.2M	$26.1M	20x	as long as short
Gate PONS_USDT	−0.123%	+0.1122%	4h	$5.7M	$7.1M	20x	as long as short
edgeX PONSUSDC	−0.114%	+0.0710%	4h	$22K	$288K	10x	as long as short
Binance PONSUSDT	−0.107%	+0.0690%	4h	$42.7M	$92.5M	20x	as long as short
Phoenix PONS	−0.101%	+0.1767%	1h	$26K	$45K	3x	as long as short

Show all 30 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Aevo PONS-PERP	−0.092%	+0.0256%	1h	$395	—	3x	as long as short
OKX PONS-USDT-SWAP	−0.091%	+0.0231%	4h	$15.2M	$56.5M	20x	as long as short
Pacifica PONS	−0.071%	+0.0858%	1h	$49K	$176K	3x	as long as short
BloFin PONS-USDT	−0.060%	+0.0930%	4h	$1.9M	$904K	20x	as long as short
Polymarket Perps PONS-USD	−0.046%	+0.0387%	1h	$64K	$1.7M	3x	as long as short
MEXC PONS_USDT	−0.044%	+0.0688%	4h	$8.2M	$4.8M	20x	as long as short
Bitget PONSUSDT	−0.041%	+0.0750%	4h	$5.0M	$10.4M	20x	as long as short
Extended PONS-USD	−0.020%	+0.0688%	1h	$161K	$464K	5x	as long as short
KuCoin PONSUSDTM	−0.011%	+0.0576%	4h	$2.3M	$2.1M	20x	as long as short
Hyperliquid PONS	0.000%	+0.0997%	1h	$64.4M	$25.3M	3x	as long as short
Lighter RH PONSlong	0.000%	+0.0304%	1h	$451K	$2.2M	3x
Variational Omni PONS	+0.009%	+0.0542%	4h	$1.8M	$3.3M	—	as long as short
SoDEX PONS-USD	+0.011%	+0.0100%	1h	$29K	$463K	3x	as long as short
Phemex PONSUSDT	+0.019%	+0.0100%	4h	$1.8M	$3.4M	20x	as long as short
Lighter PONS	+0.036%	+0.0864%	1h	$1.8M	$729K	3x	as long as short
Aster PONSUSDT	+0.040%	+0.0417%	4h	$1.1M	$2.2M	20x	as long as short
ApeX Omni PONSUSDT	+0.063%	−0.0047%	1h	$40K	$320K	5x	as long as short
SunX PONS-USDT	+0.088%	+0.0100%	4h	—	$1.2M	10x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.117%	+0.0100%	4h	$2K	$2K	10x	as long as short
HTX PONS-USDT	+0.197%	+0.0100%	4h	$66K	$492K	20x	as long as short