data as of
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Price arb /

PONS

all PONS markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$99
spread now+0.236%7d average+0.033%fees + slippage, in and out−$120spread needed1.198%
Long on PhemexShort on Bitget
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex PONSUSDT0.58840.0100pay 0.0050% / 4h2h 33m$1.7M$3.3M20x
ShortBitget PONSUSDT0.58980.0166get 0.0083% / 4h2h 33m$4.5M$11.3M20x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$23.62
Funding while held
$1.98
Slippage, 4 orders
−$95.78
Fee Phemex: 6 bp × 2 orders
−$12
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$94.18
Spread needed to break even
1.198%
Slippage from Phemex: live order book, 2 min ago; Bitget: live order book, 1 min ago.

Cost of waiting

funding view
Funding /8h
+0.0066%
Per $10,000 a day
+$1.98
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 2 min ago6.78 bp48.5 bp −$49doesn't fitdoesn't fitdoesn't fit
Sell Bitget live order book, 1 min ago1.36 bp19.8 bp −$20doesn't fitdoesn't fitdoesn't fit

PONS price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.5738cheapestAster0.5881+2.488%SoDEX0.5882+2.506%
Phemex0.5884+2.544%
Gate0.5885+2.562%Hyperliquid0.5886+2.571%Lighter RH0.5886+2.572%Aevo0.5886+2.576%KuCoin0.5887+2.595%MEXC0.5887+2.597%Extended0.5887+2.598%Pacifica0.5888+2.610%gTrade (Gains Network)0.5888+2.613%Orderly0.5889+2.637%Lighter0.5890+2.656%SunX0.5891+2.663%Variational Omni0.5891+2.665%BingX0.5891+2.666%Binance0.5894+2.724%Nado0.5897+2.771%Bybit0.5897+2.771%
Bitget0.5898+2.787%
OKX0.5898+2.788%Popdex0.5898+2.788%Polymarket Perps0.5898+2.788%edgeX0.5900+2.815%HTX0.5908+2.961%BloFin0.5912+3.032%ApeX Omni0.5917+3.128%Phoenix0.5924+3.233%

PONS on 30 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective PONS/USDC PERP−2.481%+0.0033%1h$590$7K5.5xas long as short
Aster PONSUSDT−0.056%+0.0100%4h$1.1M$2.1M20xas long as short
SoDEX PONS-USD−0.037%+0.0100%1h$26K$509K3xas long as short
Phemex PONSUSDTlong0.000%+0.0100%4h$1.7M$3.3M20x
Gate PONS_USDT+0.017%+0.0100%4h$5.2M$7.7M20xas long as short
Hyperliquid PONS+0.025%+0.0201%1h$58.8M$29.1M3xas long as short
Lighter RH PONS+0.027%+0.0096%1h$407K$2.3M3xas long as short
Aevo PONS-PERP+0.031%+0.0160%1h$367—3xas long as short
KuCoin PONSUSDTM+0.049%+0.0100%4h$1.7M$3.3M20xas long as short
MEXC PONS_USDT+0.051%+0.0332%4h$7.2M$5.2M20xas long as short
Show all 30 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Extended PONS-USD+0.052%+0.0336%1h$88K$539K5xas long as short
Pacifica PONS+0.064%+0.0285%1h$49K$119K3xas long as short
gTrade (Gains Network) PONS/USD+0.067%L +0.0032% / S −0.0032%1h$213K—150xas long as short
Orderly PERP_PONS_USDC_mythos+0.090%+0.0100%4h$2K$2K10xas long as short
Lighter PONS+0.109%+0.0488%1h$1.7M$854K3xas long as short
SunX PONS-USDT+0.116%+0.0100%4h—$1.4M10xas long as short
Variational Omni PONS+0.118%+0.0126%4h$1.2M$3.9M—as long as short
BingX PONS-USDT+0.119%+0.0356%4h—$3.2M—as long as short
Binance PONSUSDT+0.175%+0.0326%4h$38.4M$97.8M20xas long as short
Nado PONS-PERP+0.221%+0.0153%1h$73K$94K5xas long as short
Bybit PONSUSDT+0.221%+0.0100%4h$17.6M$30.1M20xas long as short
Bitget PONSUSDTshort+0.236%+0.0166%4h$4.5M$11.3M20x
OKX PONS-USDT-SWAP+0.238%+0.0136%4h$13.3M$55.6M20xas long as short
Popdex PONSUSDT+0.238%+0.0096%1h$18K$493K20xas long as short
Polymarket Perps PONS-USD+0.238%+0.0331%1h$47K$1.8M3xas long as short
edgeX PONSUSDC+0.264%+0.0350%4h$21K$292K10xas long as short
HTX PONS-USDT+0.406%+0.0100%4h$63K$496K20xas long as short
BloFin PONS-USDT+0.476%+0.0571%4h$1.7M$969K20xas long as short
ApeX Omni PONSUSDT+0.569%+0.0100%1h$30K$321K5xas long as short
Phoenix PONS+0.671%+0.1523%1h$24K$61K3xas long as short