PONS

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After costs, if the gap returns to its 7d average, $10k−$130

spread now−0.078%7d average−0.003%fees + slippage, in and out−$122spread needed1.220%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.6235	0.0100	pay 0.0050% / 4h	3h 55m	$1.7M	$3.3M	20x
Short	edgeX PONSUSDC	0.6230	0.0546	get 0.0273% / 4h	3h 55m	$21K	$292K	10x

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 PhemexbpFee edgeXbpOrdersClose when spread is

Slippage from Phemex: live order book, 4 min ago; edgeX: live order book, 53 min ago.

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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phemex live order book, 4 min ago	0.80 bp	34.6 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 53 min ago	11.88 bp	20.2 bp −$20	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	−7.971%	+0.0033%	1h	$590	$11K	5.5x	as long as short
Variational Omni PONS	−0.152%	+0.0511%	4h	$1.7M	$3.4M	—	as long as short
BloFin PONS-USDT	−0.112%	+0.0765%	4h	$1.8M	$922K	20x	as long as short
BingX PONS-USDT	−0.096%	+0.0510%	4h	—	$3.0M	—	as long as short
gTrade (Gains Network) PONS/USD	−0.095%	L +0.0032% / S −0.0031%	1h	$225K	—	150x	as long as short
edgeX PONSUSDCshort	−0.078%	+0.0546%	4h	$21K	$292K	10x
Bybit PONSUSDT	−0.064%	+0.0680%	4h	$20.0M	$27.1M	20x	as long as short
OKX PONS-USDT-SWAP	−0.064%	+0.0141%	4h	$14.4M	$54.7M	20x	as long as short
Binance PONSUSDT	−0.016%	+0.0527%	4h	$41.4M	$92.7M	20x	as long as short
Gate PONS_USDT	0.000%	−0.1334%	4h	$5.6M	$7.2M	20x	as long as short

Show all 30 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Phemex PONSUSDTlong	0.000%	+0.0100%	4h	$1.7M	$3.3M	20x
Phoenix PONS	+0.024%	+0.1528%	1h	$25K	$51K	3x	as long as short
Aster PONSUSDT	+0.029%	+0.0190%	4h	$1.1M	$2.1M	20x	as long as short
Polymarket Perps PONS-USD	+0.047%	+0.0735%	1h	$64K	$1.8M	3x	as long as short
Aevo PONS-PERP	+0.058%	+0.0216%	1h	$389	—	3x	as long as short
KuCoin PONSUSDTM	+0.063%	+0.0286%	4h	$1.8M	$3.1M	20x	as long as short
Nado PONS-PERP	+0.064%	+0.0418%	1h	$113K	$68K	5x	as long as short
SoDEX PONS-USD	+0.064%	+0.0100%	1h	$28K	$463K	3x	as long as short
Pacifica PONS	+0.066%	+0.0616%	1h	$50K	$126K	3x	as long as short
MEXC PONS_USDT	+0.080%	+0.0524%	4h	$7.7M	$5.0M	20x	as long as short
Extended PONS-USD	+0.090%	+0.0528%	1h	$93K	$533K	5x	as long as short
Popdex PONSUSDT	+0.096%	+0.0096%	1h	$19K	$453K	20x	as long as short
SunX PONS-USDT	+0.101%	+0.0100%	4h	—	$1.4M	10x	as long as short
Lighter RH PONS	+0.114%	+0.0680%	1h	$433K	$2.2M	3x	as long as short
HTX PONS-USDT	+0.115%	+0.0100%	4h	$66K	$490K	20x	as long as short
Bitget PONSUSDT	+0.125%	+0.0334%	4h	$4.8M	$10.7M	20x	as long as short
ApeX Omni PONSUSDT	+0.149%	+0.0100%	1h	$39K	$313K	5x	as long as short
Lighter PONS	+0.152%	+0.1968%	1h	$1.8M	$763K	3x	as long as short
Hyperliquid PONS	+0.156%	+0.0806%	1h	$63.4M	$26.7M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.157%	+0.0100%	4h	$2K	$2K	10x	as long as short