PONS

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After costs, if the gap returns to its 7d average, $10k−$71

spread now−0.058%7d average−0.057%fees + slippage, in and out−$71spread needed0.707%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH PONS	0.6317	0.0344	pay 0.0043% / 1h	43m 25s	$436K	$2.2M	3x
Short	Extended PONS-USD	0.6313	0.0624	get 0.0078% / 1h	43m 25s	$95K	$537K	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 Lighter RHbpFee ExtendedbpOrdersClose when spread is

Slippage from Lighter RH: live order book, 1 min ago; Extended: live order book, 6 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, 1 min ago	5.68 bp	8.0 bp −$8	32.6 bp −$326	doesn't fit	doesn't fit
Sell Extended live order book, 6 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	−9.166%	+0.0033%	1h	$590	$15K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	−0.377%	L +0.0032% / S −0.0031%	1h	$227K	—	150x	as long as short
OKX PONS-USDT-SWAP	−0.332%	+0.0158%	4h	$14.9M	$55.6M	20x	as long as short
Bybit PONSUSDT	−0.269%	+0.0769%	4h	$20.4M	$26.9M	20x	as long as short
KuCoin PONSUSDTM	−0.222%	+0.0488%	4h	$1.8M	$3.1M	20x	as long as short
Bitget PONSUSDT	−0.217%	+0.0536%	4h	$4.9M	$10.8M	20x	as long as short
Polymarket Perps PONS-USD	−0.196%	+0.0568%	1h	$76K	$1.8M	3x	as long as short
Popdex PONSUSDT	−0.190%	+0.0096%	1h	$20K	$470K	20x	as long as short
MEXC PONS_USDT	−0.174%	+0.0624%	4h	$8.2M	$4.9M	20x	as long as short
BingX PONS-USDT	−0.158%	+0.0716%	4h	—	$2.9M	—	as long as short

Show all 30 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Hyperliquid PONS	−0.133%	+0.1114%	1h	$64.4M	$26.1M	3x	as long as short
Binance PONSUSDT	−0.102%	+0.0619%	4h	$42.5M	$93.5M	20x	as long as short
Extended PONS-USDshort	−0.058%	+0.0624%	1h	$95K	$537K	5x
Pacifica PONS	−0.045%	+0.0472%	1h	$48K	$166K	3x	as long as short
Aster PONSUSDT	−0.017%	+0.0439%	4h	$1.1M	$2.2M	20x	as long as short
Gate PONS_USDT	−0.016%	+0.0100%	4h	$5.7M	$6.9M	20x	as long as short
Lighter PONS	0.000%	+0.1024%	1h	$1.8M	$714K	3x	as long as short
Lighter RH PONSlong	0.000%	+0.0344%	1h	$436K	$2.2M	3x
BloFin PONS-USDT	+0.332%	+0.0865%	4h	$1.9M	$925K	20x	as long as short
edgeX PONSUSDC	+0.345%	+0.0604%	4h	$22K	$290K	10x	as long as short
SoDEX PONS-USD	+0.356%	+0.0100%	1h	$28K	$482K	3x	as long as short
Nado PONS-PERP	+0.370%	+0.0689%	1h	$116K	$66K	5x	as long as short
Phemex PONSUSDT	+0.380%	+0.0100%	4h	$1.8M	$3.3M	20x	as long as short
ApeX Omni PONSUSDT	+0.389%	+0.0100%	1h	$40K	$318K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.391%	+0.0100%	4h	$2K	$2K	10x	as long as short
Aevo PONS-PERP	+0.392%	+0.0240%	1h	$395	—	3x	as long as short
Phoenix PONS	+0.412%	+0.1489%	1h	$26K	$51K	3x	as long as short
SunX PONS-USDT	+0.420%	+0.0100%	4h	—	$1.3M	10x	as long as short
HTX PONS-USDT	+0.465%	+0.0100%	4h	$66K	$494K	20x	as long as short
Variational Omni PONS	+0.574%	+0.0612%	4h	$1.8M	$3.4M	—	as long as short