Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0505%/8h= +55.3% APRpaid last 24h +0.192%

Price spread now: Lighter against Binance+0.302%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs+$7as in the Funding arb table

Net, price: spread back to 7d avg − costs−$7as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.447%+$45 on $10k

Price spread, last 7 days−0.163%−$16 · spread now +0.302%, 7d avg −0.007%

Together, before fees+0.284%+ Points / potential airdropLighter: Season 3 · farm board+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Lighter is 0.309% dearer against Binance than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PONSUSDT	0.5805	0.0151	pay 0.0075% / 4h	2h 46m	$37.8M	$98.2M	20x
Short	Lighter PONS	0.5823	0.0656	get 0.0082% / 1h	46m 00s	$1.7M	$880K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee LighterbpOrdersPrice spread, now +0.302%Rate

Funding earned: $106.11
Price spread: +0.302% → −0.007%: $30.88
Slippage, 4 orders: −$27.43
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $99.56
Costs to cover: 0.374%
Break-even: 0.4 days

Slippage from Binance: live order book, 12 min ago; Lighter: live order book, 5 min ago.

Cost to enter

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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Binance live order book, 12 min ago	0.84 bp	13.4 bp −$13	60.8 bp −$608	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	4.06 bp	6.9 bp −$7	10.8 bp −$108	doesn't fit	doesn't fit

PONS on 30 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0034%	1h	0.5813	+0.131%	$213K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+1.973%	$609	$6K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5817	+0.202%	$391K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5818	+0.223%	$20K	$454K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5811	+0.102%	$17.6M	$31.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5812	+0.119%	$13.3M	$55.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5809	+0.073%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5815	+0.171%	$4.6M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5902	+1.662%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5913	+1.863%	$34K	$327K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5829	+0.417%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5815	+0.176%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5813	+0.143%	$26K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5829	+0.407%	$63K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5819	+0.240%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5826	+0.365%	$363	—	3x	as long as short
Binance PONSUSDTlong	+0.0151%	4h	0.5805	long leg	$37.8M	$98.2M	20x
Extended PONS-USD	+0.0152%	1h	0.5817	+0.198%	$104K	$529K	5x	as long as short
MEXC PONS_USDT	+0.0154%	4h	0.5814	+0.154%	$7.5M	$5.2M	20x	as long as short
edgeX PONSUSDC	+0.0167%	4h	0.5883	+1.349%	$21K	$294K	10x	as long as short
BingX PONS-USDT	+0.0172%	4h	0.5813	+0.137%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0200%	1h	0.5816	+0.191%	$88K	$103K	5x	as long as short
Aster PONSUSDT	+0.0204%	4h	0.5820	+0.261%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0286%	1h	0.5814	+0.145%	$38K	$1.8M	3x	as long as short
Gate PONS_USDT	+0.0318%	4h	0.5819	+0.240%	$5.1M	$6.8M	20x	as long as short
BloFin PONS-USDT	+0.0396%	4h	0.5878	+1.256%	$1.7M	$962K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5818	+0.219%	$46K	$102K	3x	as long as short
Hyperliquid PONS	+0.0546%	1h	0.5812	+0.118%	$58.0M	$29.9M	3x	as long as short
Lighter PONSshort	+0.0656%	1h	0.5823	+0.302%	$1.7M	$880K	3x
Phoenix PONS	+0.1275%	1h	0.5909	+1.799%	$27K	$86K	3x	as long as short