Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0432%/8h= +47.3% APRpaid last 24h +0.113%

Price spread now: Lighter RH against Binance+0.033%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$400.398% of the position

Long on Binance Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 7 days−0.016%−$2 · spread now +0.033%, 7d avg −0.026%

Together, before fees−0.015%+ Points / potential airdropLighter RH: Points live · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Lighter RH is 0.060% dearer against Binance than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.026%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.001% in total (about 0.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PONSUSDT	0.5906	0.0176	pay 0.0088% / 4h	2h 30m	$38.4M	$98.4M	20x
Short	Lighter RH PONS	0.5908	0.0608	get 0.0076% / 1h	30m 06s	$394K	$2.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.033%Rate

Funding earned: $90.72
Price spread: +0.033% → −0.026%: $5.98
Slippage, 4 orders: −$29.84
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $56.86
Costs to cover: 0.398%
Break-even: 2.6 days

Slippage from Binance: live order book, 13 min ago; Lighter RH: live order book, 3 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, 13 min ago	0.86 bp	9.6 bp −$10	23.6 bp −$236	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	0.85 bp	5.0 bp −$5	31.3 bp −$313	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	0.5900	−0.097%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.228%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5908	+0.032%	$21K	$447K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5902	−0.070%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5906	−0.002%	$13.5M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5903	−0.062%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5908	+0.028%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5903	−0.049%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5896	−0.166%	$34K	$332K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5906	−0.002%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5909	+0.055%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5901	−0.084%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5913	+0.108%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5894	−0.205%	$1.7M	$3.3M	20x	as long as short
Nado PONS-PERP	+0.0120%	1h	0.5908	+0.038%	$89K	$103K	5x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5902	−0.070%	$368	—	3x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5901	−0.082%	$105K	$533K	5x	as long as short
Binance PONSUSDTlong	+0.0176%	4h	0.5906	long leg	$38.4M	$98.4M	20x
MEXC PONS_USDT	+0.0176%	4h	0.5903	−0.053%	$7.5M	$5.2M	20x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5907	+0.015%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0186%	4h	0.5899	−0.120%	$21K	$294K	10x	as long as short
Aster PONSUSDT	+0.0215%	4h	0.5901	−0.084%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0334%	1h	0.5906	−0.002%	$38K	$1.8M	3x	as long as short
Gate PONS_USDT	+0.0396%	4h	0.5900	−0.104%	$5.2M	$6.8M	20x	as long as short
BloFin PONS-USDT	+0.0416%	4h	0.5905	−0.019%	$1.7M	$969K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5908	+0.026%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0536%	1h	0.5909	+0.042%	$59.0M	$30.0M	3x	as long as short
Lighter RH PONSshort	+0.0608%	1h	0.5908	+0.033%	$394K	$2.6M	3x
Lighter PONS	+0.1120%	1h	0.5906	−0.001%	$1.7M	$882K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5899	−0.121%	$27K	$86K	3x	as long as short