In this area, you can see a lone pot containing a Frozen Spider fragment in a very far part of the background. This pot may be hard to tap on due to its size but you may want to attempt to get it now or later when it gets a little closer.
Continue down the wall until you hit the first intersection. Move left once and right twice. Down on the lever and trigger it to lower the platform. Before leaving this spot, get the sapphire in the pot to the left of the screen.
Move up once, left twice and down onto the left lever. Trigger it while the spider is on it to move him up. go down towards the lever and flip it. Move left once, then right.
The goal is to have the saw blade hit the spider. go back up the path and move left once. Then head back down to the lever and flip it to return the saw blade to its position. Climb down the wall and before exiting the area, claim the sapphire from the pot hidden by some rocks near the bottom of the screen.