PONS

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After costs, if the gap returns to its 7d average, $10k−$181

spread now+0.024%7d average+0.008%fees + slippage, in and out−$182spread needed1.825%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PONS-PERP	0.6161	0.0357	pay 0.0045% / 1h	48m 28s	$111K	$69K	5x
Short	Phemex PONSUSDT	0.6163	0.0977	get 0.0489% / 4h	3h 48m	$1.7M	$3.3M	20x

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 PhemexbpOrdersClose when spread is

Slippage from Nado: live order book, 56 min ago; Phemex: live order book, 2 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, 56 min ago	18.66 bp	49.6 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	2.44 bp	42.4 bp −$42	doesn't fit	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	−6.873%	+0.0033%	1h	$590	$11K	5.5x	as long as short
Variational Omni PONS	−0.413%	+0.0488%	4h	$1.6M	$3.5M	—	as long as short
gTrade (Gains Network) PONS/USD	−0.381%	L +0.0032% / S −0.0031%	1h	$221K	—	150x	as long as short
Bybit PONSUSDT	−0.349%	+0.0323%	4h	$19.4M	$27.4M	20x	as long as short
Popdex PONSUSDT	−0.333%	+0.0096%	1h	$16K	$468K	20x	as long as short
OKX PONS-USDT-SWAP	−0.316%	+0.0141%	4h	$14.2M	$54.1M	20x	as long as short
Polymarket Perps PONS-USD	−0.315%	+0.0633%	1h	$63K	$1.8M	3x	as long as short
Bitget PONSUSDT	−0.279%	+0.0314%	4h	$4.8M	$10.8M	20x	as long as short
Hyperliquid PONS	−0.274%	+0.0656%	1h	$62.0M	$27.0M	3x	as long as short
MEXC PONS_USDT	−0.252%	+0.0484%	4h	$7.5M	$5.0M	20x	as long as short

Show all 30 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
KuCoin PONSUSDTM	−0.242%	+0.0260%	4h	$1.8M	$3.1M	20x	as long as short
Binance PONSUSDT	−0.231%	+0.0493%	4h	$40.7M	$93.1M	20x	as long as short
BingX PONS-USDT	−0.187%	+0.0498%	4h	—	$3.1M	—	as long as short
Aster PONSUSDT	−0.139%	+0.0100%	4h	$1.1M	$2.1M	20x	as long as short
SoDEX PONS-USD	−0.130%	+0.0100%	1h	$27K	$466K	3x	as long as short
Pacifica PONS	−0.048%	+0.0616%	1h	$50K	$122K	3x	as long as short
BloFin PONS-USDT	−0.041%	+0.0724%	4h	$1.9M	$942K	20x	as long as short
Lighter RH PONS	−0.036%	+0.0728%	1h	$432K	$2.2M	3x	as long as short
Gate PONS_USDT	−0.024%	−0.2222%	4h	$5.5M	$7.3M	20x	as long as short
Extended PONS-USD	−0.010%	+0.0488%	1h	$92K	$533K	5x	as long as short
Nado PONS-PERPlong	0.000%	+0.0357%	1h	$111K	$69K	5x
SunX PONS-USDT	+0.005%	+0.0100%	4h	—	$1.4M	10x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.007%	+0.0100%	4h	$2K	$2K	10x	as long as short
Aevo PONS-PERP	+0.024%	+0.0200%	1h	$384	—	3x	as long as short
Phemex PONSUSDTshort	+0.024%	+0.0977%	4h	$1.7M	$3.3M	20x
Lighter PONS	+0.054%	+0.1472%	1h	$1.8M	$771K	3x	as long as short
HTX PONS-USDT	+0.102%	+0.0100%	4h	$66K	$491K	20x	as long as short
Phoenix PONS	+0.289%	+0.1528%	1h	$25K	$61K	3x	as long as short
ApeX Omni PONSUSDT	+0.349%	+0.0100%	1h	$39K	$314K	5x	as long as short
edgeX PONSUSDC	+0.394%	+0.0542%	4h	$21K	$291K	10x	as long as short