PONS

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After costs, if the gap returns to its 7d average, $10k−$32

spread now−0.018%7d average+0.053%fees + slippage, in and out−$25spread needed0.251%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PONS_USDT	0.6163	0.0494	pay 0.0247% / 4h	3h 49m	$7.5M	$5.0M	20x
Short	Lighter PONS	0.6162	0.1456	get 0.0182% / 1h	49m 24s	$1.8M	$770K	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 MEXCbpFee LighterbpOrdersClose when spread is

Slippage from MEXC: live order book, 5 min ago; Lighter: 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 MEXC live order book, 5 min ago	1.61 bp	3.7 bp −$4	10.8 bp −$108	362.5 bp −$36.2K	doesn't fit
Sell Lighter live order book, 4 min ago	2.42 bp	14.0 bp −$14	17.3 bp −$173	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	−6.896%	+0.0033%	1h	$590	$11K	5.5x	as long as short
Variational Omni PONS	−0.438%	+0.0488%	4h	$1.6M	$3.5M	—	as long as short
BloFin PONS-USDT	−0.357%	+0.0735%	4h	$1.8M	$939K	20x	as long as short
Aster PONSUSDT	−0.352%	+0.0100%	4h	$1.1M	$2.1M	20x	as long as short
Orderly PERP_PONS_USDC_mythos	−0.292%	+0.0100%	4h	$2K	$2K	10x	as long as short
Aevo PONS-PERP	−0.194%	+0.0208%	1h	$383	—	3x	as long as short
gTrade (Gains Network) PONS/USD	−0.156%	L +0.0032% / S −0.0031%	1h	$222K	—	150x	as long as short
SoDEX PONS-USD	−0.154%	+0.0100%	1h	$27K	$466K	3x	as long as short
Phemex PONSUSDT	−0.146%	+0.1417%	4h	$1.7M	$3.3M	20x	as long as short
SunX PONS-USDT	−0.123%	+0.0100%	4h	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
BingX PONS-USDT	−0.081%	+0.0498%	4h	—	$3.1M	—	as long as short
HTX PONS-USDT	−0.073%	+0.0100%	4h	$66K	$490K	20x	as long as short
OKX PONS-USDT-SWAP	−0.065%	+0.0143%	4h	$14.2M	$54.3M	20x	as long as short
Bitget PONSUSDT	−0.054%	+0.0316%	4h	$4.8M	$10.8M	20x	as long as short
Hyperliquid PONS	−0.049%	+0.0699%	1h	$62.2M	$26.9M	3x	as long as short
Bybit PONSUSDT	−0.049%	+0.0376%	4h	$19.5M	$27.4M	20x	as long as short
KuCoin PONSUSDTM	−0.039%	+0.0264%	4h	$1.8M	$3.1M	20x	as long as short
Pacifica PONS	−0.038%	+0.0616%	1h	$50K	$122K	3x	as long as short
Lighter RH PONS	−0.034%	+0.0728%	1h	$432K	$2.2M	3x	as long as short
Gate PONS_USDT	−0.032%	−0.2296%	4h	$5.5M	$7.3M	20x	as long as short
Nado PONS-PERP	−0.024%	+0.0357%	1h	$111K	$69K	5x	as long as short
Lighter PONSshort	−0.018%	+0.1456%	1h	$1.8M	$770K	3x
Popdex PONSUSDT	0.000%	+0.0096%	1h	$15K	$465K	20x	as long as short
MEXC PONS_USDTlong	0.000%	+0.0494%	4h	$7.5M	$5.0M	20x
Polymarket Perps PONS-USD	+0.008%	+0.0684%	1h	$63K	$1.8M	3x	as long as short
Binance PONSUSDT	+0.009%	+0.0484%	4h	$41.0M	$93.1M	20x	as long as short
Extended PONS-USD	+0.013%	+0.0496%	1h	$92K	$533K	5x	as long as short
Phoenix PONS	+0.264%	+0.1528%	1h	$25K	$61K	3x	as long as short
ApeX Omni PONSUSDT	+0.325%	+0.0100%	1h	$39K	$314K	5x	as long as short
edgeX PONSUSDC	+0.369%	+0.0542%	4h	$21K	$291K	10x	as long as short