PONS

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After costs, if the gap returns to its 7d average, $10k−$109

spread now+0.110%7d average+0.056%fees + slippage, in and out−$114spread needed1.141%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PONS-PERP	0.6341	0.0531	pay 0.0066% / 1h	46m 18s	$116K	$67K	5x
Short	Lighter PONS	0.6348	0.0856	get 0.0107% / 1h	46m 18s	$1.8M	$729K	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 NadobpFee LighterbpOrdersClose when spread is

Slippage from Nado: live order book, 4 min ago; Lighter: live order book, 7 min ago.

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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Nado live order book, 4 min ago	13.93 bp	43.2 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	6.38 bp	13.5 bp −$14	23.9 bp −$239	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	−9.510%	+0.0033%	1h	$590	$15K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	−0.164%	L +0.0032% / S −0.0032%	1h	$226K	—	150x	as long as short
BingX PONS-USDT	−0.142%	+0.0718%	4h	—	$2.9M	—	as long as short
Extended PONS-USD	−0.056%	+0.0688%	1h	$161K	$464K	5x	as long as short
Popdex PONSUSDT	−0.032%	+0.0096%	1h	$20K	$470K	20x	as long as short
Polymarket Perps PONS-USD	−0.017%	+0.0390%	1h	$64K	$1.7M	3x	as long as short
Bybit PONSUSDT	−0.016%	+0.0662%	4h	$20.2M	$26.1M	20x	as long as short
Binance PONSUSDT	−0.015%	+0.0686%	4h	$42.6M	$92.5M	20x	as long as short
Nado PONS-PERPlong	0.000%	+0.0531%	1h	$116K	$67K	5x
Gate PONS_USDT	0.000%	+0.1090%	4h	$5.7M	$7.1M	20x	as long as short

Show all 30 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.009%	+0.0256%	1h	$395	—	3x	as long as short
MEXC PONS_USDT	+0.016%	+0.0690%	4h	$8.2M	$4.8M	20x	as long as short
Pacifica PONS	+0.020%	+0.0858%	1h	$49K	$176K	3x	as long as short
Aster PONSUSDT	+0.023%	+0.0419%	4h	$1.1M	$2.2M	20x	as long as short
KuCoin PONSUSDTM	+0.028%	+0.0576%	4h	$2.3M	$2.1M	20x	as long as short
Lighter RH PONS	+0.043%	+0.0296%	1h	$451K	$2.2M	3x	as long as short
Bitget PONSUSDT	+0.046%	+0.0744%	4h	$5.0M	$10.4M	20x	as long as short
edgeX PONSUSDC	+0.056%	+0.0710%	4h	$22K	$288K	10x	as long as short
Hyperliquid PONS	+0.057%	+0.0993%	1h	$64.4M	$25.3M	3x	as long as short
Phoenix PONS	+0.069%	+0.1767%	1h	$26K	$45K	3x	as long as short
OKX PONS-USDT-SWAP	+0.079%	+0.0231%	4h	$15.2M	$56.4M	20x	as long as short
SunX PONS-USDT	+0.085%	+0.0100%	4h	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.090%	+0.0100%	1h	$29K	$462K	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.099%	+0.0100%	4h	$2K	$2K	10x	as long as short
Lighter PONSshort	+0.110%	+0.0856%	1h	$1.8M	$729K	3x
BloFin PONS-USDT	+0.110%	+0.0930%	4h	$1.9M	$904K	20x	as long as short
Variational Omni PONS	+0.179%	+0.0542%	4h	$1.8M	$3.3M	—	as long as short
Phemex PONSUSDT	+0.189%	+0.0100%	4h	$1.8M	$3.4M	20x	as long as short
ApeX Omni PONSUSDT	+0.233%	−0.0047%	1h	$40K	$320K	5x	as long as short
HTX PONS-USDT	+0.367%	+0.0100%	4h	$66K	$492K	20x	as long as short