PONS

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After costs, if the gap returns to its 7d average, $10k−$28

spread now+0.090%7d average+0.001%fees + slippage, in and out−$37spread needed0.367%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PONS-USD	0.6235	0.0559	pay 0.0070% / 1h	8m 55s	$67K	$1.8M	3x
Short	BingX PONS-USDT	0.6241	0.0626	get 0.0313% / 4h	8m 55s	—	$3.1M	—

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 Polymarket PerpsbpFee BingXbpOrdersClose when spread is

Slippage from Polymarket Perps: live order book, 1 min ago; BingX: 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 Polymarket Perps live order book, 1 min ago	2.09 bp	6.1 bp −$6	6.3 bp −$63	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	2.41 bp	11.9 bp −$12	27.5 bp −$275	125.4 bp −$12.5K	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	−7.977%	+0.0033%	1h	$590	$15K	5.5x	as long as short
Variational Omni PONS	−0.292%	+0.0537%	4h	$1.7M	$3.5M	—	as long as short
Phoenix PONS	−0.282%	+0.1489%	1h	$25K	$51K	3x	as long as short
edgeX PONSUSDC	−0.250%	+0.0548%	4h	$21K	$288K	10x	as long as short
ApeX Omni PONSUSDT	−0.225%	+0.0100%	1h	$39K	$314K	5x	as long as short
Pacifica PONS	−0.223%	+0.0472%	1h	$50K	$126K	3x	as long as short
Aster PONSUSDT	−0.158%	+0.0221%	4h	$1.1M	$2.2M	20x	as long as short
Popdex PONSUSDT	−0.103%	+0.0096%	1h	$20K	$455K	20x	as long as short
gTrade (Gains Network) PONS/USD	−0.075%	L +0.0032% / S −0.0031%	1h	$225K	—	150x	as long as short
Aevo PONS-PERP	−0.038%	+0.0216%	1h	$388	—	3x	as long as short

Show all 30 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Nado PONS-PERP	−0.031%	+0.0609%	1h	$113K	$67K	5x	as long as short
Phemex PONSUSDT	−0.022%	+0.0100%	4h	$1.7M	$3.3M	20x	as long as short
BloFin PONS-USDT	−0.006%	+0.0778%	4h	$1.9M	$918K	20x	as long as short
Polymarket Perps PONS-USDlong	0.000%	+0.0559%	1h	$67K	$1.8M	3x
Extended PONS-USD	+0.051%	+0.0536%	1h	$93K	$533K	5x	as long as short
Lighter RH PONS	+0.058%	+0.0424%	1h	$430K	$2.2M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.059%	+0.0100%	4h	$2K	$2K	10x	as long as short
Bitget PONSUSDT	+0.079%	+0.0384%	4h	$4.8M	$10.7M	20x	as long as short
KuCoin PONSUSDTM	+0.083%	+0.0312%	4h	$1.8M	$3.1M	20x	as long as short
SunX PONS-USDT	+0.088%	+0.0100%	4h	—	$1.4M	10x	as long as short
MEXC PONS_USDT	+0.090%	+0.0540%	4h	$7.9M	$5.1M	20x	as long as short
BingX PONS-USDTshort	+0.090%	+0.0626%	4h	—	$3.1M	—
Lighter PONS	+0.117%	+0.1112%	1h	$1.8M	$772K	3x	as long as short
HTX PONS-USDT	+0.144%	+0.0100%	4h	$66K	$495K	20x	as long as short
SoDEX PONS-USD	+0.154%	+0.0100%	1h	$28K	$470K	3x	as long as short
Hyperliquid PONS	+0.188%	+0.1054%	1h	$63.5M	$26.5M	3x	as long as short
Bybit PONSUSDT	+0.218%	+0.0638%	4h	$20.0M	$27.1M	20x	as long as short
OKX PONS-USDT-SWAP	+0.218%	+0.0147%	4h	$14.5M	$55.1M	20x	as long as short
Gate PONS_USDT	+0.218%	−0.0164%	4h	$5.5M	$7.3M	20x	as long as short
Binance PONSUSDT	+0.231%	+0.0538%	4h	$41.6M	$92.6M	20x	as long as short