A perp on
anything.

How it works

Three steps. A number becomes a market, the market gets traded, the creator gets paid.

Create a market

A market is a name, a photo, a unit, a source and a cadence. You fill a form, you see the market exactly as it will appear while you type, and you deploy it.

What you set

• Name and ticker. Tickers are unique across PonsAnything. "DAYTONA", "SPACEX", "MIAMI".
• Photo. Yours, dropped in or linked. It becomes the market's face everywhere: the list, the ticket, the share cards.
• Unit and description. "$ resale, steel" and one line saying what the number is. Traders read it before they click.
• Source and link. Where the number comes from (Chainlink, Open-Meteo, mempool.space, Steam, any public JSON API) and a link to it. The source must be public and reproducible.
• Cadence. How often the source updates: every hour, day, week or month. The cadence sets the maximum leverage (see Leverage).
• Your link. Your X or website, shown as the creator on the market.

Rules

• The number must be public, verifiable by anyone, and updated by a source you don't control.
• One market per number. If a market already tracks it, trade that one.
• Nothing illegal, nothing private, nothing about a person's private life.
• You own the market from the moment it's deployed. Half of every fee it ever makes is yours to claim, in USDG, whenever you want.

Trade

Every market is a perpetual contract on its number, settled in USDG on Robinhood Chain. You pick a side, a size, a leverage, and you're in.

Orders

• Market. Opens now at the current price, within your slippage tolerance (0.5%, 1% or 2%).
• Limit. Opens only when the number reaches your price: a long limit fills when the price drops to it, a short limit when it rises to it. Margin is reserved when you place the order and returned if you cancel.
• Take profit and stop loss. Attach them when you open or later from the position. They close the position automatically at the price you set.
• Partial close. Close half, keep the rest running.
• Add margin. Put more USDG behind a position: the leverage drops and the liquidation price moves away.
• Flip. Close a position and open the opposite side in one move.
• Price alerts. Ask to be told when a number crosses a price, in the app and, if you allow it, in the browser.

Position size and margin

Your size is the USDG you put in (the margin). Your position is size × leverage. A $100 long at 10x is a $1,000 position: a 1% move in the number moves your PnL by $10, which is 10% of your margin.

Share cards, a watchlist, a portfolio with your equity curve and full history, a leaderboard and a CSV export are in the app. Every order asks for a confirmation unless you turn on one-click trading in the settings.

Keyboard

/ searches, Ctrl K (or ⌘ K) opens the command palette, J K move in the list, Enter opens, Esc goes back. On a market: L long, S short, 1 2 3 4 size, [ ] leverage, W watch, A alert, ? the full list.

Fees and earnings

One fee, split in two. Every time a position opens or closes, 0.10% of the position is charged. Half goes to the creator of the market. Half goes to the protocol. No maker or taker tiers, no hidden spread.

For creators

• Fees accrue in USDG on the market itself. You claim them whenever you want from Mine, no minimum, no lock.
• Ownership is permanent. You can edit the photo, the description and the links; the number, the source and the ticker stay what traders signed up for.
• Liquidations don't pay fees to anyone; the remaining margin covers the liquidation.

Oracles and sources

The number of a market is read from its public source and posted on Robinhood Chain at the market's cadence. Between two updates, the price you trade is the last posted value.

Source	Markets	Cadence
Chainlink on Robinhood Chain	Bitcoin, Ethereum, SpaceX (SPCX), Nvidia, Tesla, GameStop, Strategy, S&P 500, Oil, Silver	Live, on every price move
Open-Meteo	Miami heat	Every 15 minutes
mempool.space	Bitcoin hashrate, Bitcoin fees	Daily, every minute
GeckoTerminal, CoinGecko	PONS, Solana	Every minute
Steam, Wikipedia	Counter-Strike 2 players, Taylor Swift page views	Every minute, daily
Zillow, Frankfurter (ECB), alternative.me	New York rent, Euro, Fear and greed	Monthly, daily, daily
Pons	The 150 tokens launched on Pons that graduated and traded today, ranked by 24h volume, plus any Pons token you point a market at	Live, on every trade
CoinPaprika, Kraken	The top 190 coins by market cap, shelved by what they are (memecoins, AI, layer 2, exchanges, GameFi, DePIN, privacy, RWA, oracles, staking), Bitcoin dominance, the whole crypto market cap. Bitcoin, Ether, Solana and every coin Kraken lists also stream tick by tick from Kraken, straight into your browser	Every minute; live for the coins on Kraken
Kalshi	The odds of the news, in percent: Fed cuts and hikes, inflation, jobs, the next Pope, Musk on Mars, humans on the Moon, GPT-6, hurricanes, Bitcoin highs, the S&P finishing up. On each series, its most traded open market	Every 5 minutes
New York Fed, US Treasury	SOFR, the fed funds rate, four Treasury yields	Daily
gold-api.com, Open Notify	Gold, silver, platinum, palladium and copper spot; how many people are in space	Every minute, hourly
Frankfurter (ECB)	28 currencies against the dollar	Daily
Open-Meteo	The heat in 36 cities, the air in 18	Every 15 minutes, hourly
Steam	Who is playing 40 games right now	Every minute
Wikipedia	Who the world reads about: 55 people, teams, clubs and things, with a shelf for sports	Daily
DeFiLlama	The value locked on 18 chains and in 24 protocols, the supply of every big stablecoin	Hourly
US Treasury, NOAA, USGS	The national debt, four Treasury yields, gold and silver spot, CO₂ at Mauna Loa, geomagnetic storms, sunspots, earthquakes today	Daily to every minute
App Store, npm, GitHub, Citi Bike, Vélib'	App ranks, package downloads, repository stars, bikes on the street in New York and Paris	Hourly, every minute
Any public JSON API	The markets you create: a URL and the path to the number	You choose

• Each market page shows when the oracle last posted and when it posts next.
• If a source stops publishing for more than three cadences, the market pauses and settles every position at the last posted value. Nobody gets liquidated on a stale number.
• Disputes. A posted value can be challenged for 24 hours with a link to the source. A wrong value is corrected and the trades it affected are rolled back.

Every number in the app is read live from these sources by the PonsAnything feed. On-chain, the same numbers will be posted by Chainlink feeds directly and by the PonsAnything oracle for the other sources.

Leverage and liquidation

The maximum leverage of a market depends on how often its number updates. A number that moves every hour can be traded at 20x; a number that moves once a month can gap, so it stays at 5x.

Liquidation

A position is liquidated when its loss reaches 90% of its margin. The last 10% covers the liquidation. The liquidation price is shown before you open and on every position.

Formula: liquidation = entry × (1 ∓ 0.9 / leverage), minus for longs, plus for shorts.

Funding

Every 8 hours, the side of the book with more open interest pays the other side. The rate follows the skew: when longs are 60% of the book, longs pay shorts; when shorts dominate, shorts pay longs. Each market page shows the current rate, the long/short split and the time to the next payment.

Rates are small (a few thousandths of a percent per 8 hours) and shown in the ticket before you open, in USDG, for your position size.

Risks

• Gaps. A number that updates daily can jump at its next update. There is no price in between to stop out at.
• Sources. A source can change its method or stop publishing. Markets pause and settle rather than liquidate, but a settlement is not the trade you planned.
• Thin markets. A new market with little open interest can carry a wider funding rate.
• Nothing here is financial advice. Trade what you understand, with what you can lose.