PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0056%/8h= +6.1% APRnext payment +$0.07 per $10,000 · paid last 24h +0.170%

Price spread now: Lighter against Extended−0.029%7-day average +0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$700.700% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.337%+$34 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now −0.029%, 7d avg +0.072%

Together, before fees+0.298%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.101% cheaper against Extended than usual: you would sell low and buy high (spread −0.029% now, against its 7-day average of +0.072%). If the spread goes back, that is −$10 on $10k: about 6.0 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.337% in total) that is about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.6103	0.0368	pay 0.0046% / 1h	16m 36s	$252K	$678K	5x
Short	Lighter PONS	0.6101	0.0424	get 0.0053% / 1h	16m 36s	$1.7M	$933K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Extended. 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 ExtendedbpFee LighterbpOrdersPrice spread, now −0.029%Rate

Funding earned: $11.76
Price spread: −0.029% → +0.072%: −$10.06
Slippage, 4 orders: −$65.04
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$68.35
Costs to cover: 0.700%
Break-even: 47.7 days

Slippage from Extended: live order book, 56 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 Extended live order book, 56 min ago	10.10 bp	26.8 bp −$27	157.6 bp −$1,576	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	3.53 bp	14.9 bp −$15	19.3 bp −$193	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 +0.0033% / S −0.0033%	1h	0.6079	−0.392%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.182%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6101	−0.029%	$430K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6091	−0.191%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6082	−0.338%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6093	−0.152%	$33K	$358K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6098	−0.083%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6094	−0.138%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6092	−0.178%	$28K	$544K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6103	+0.001%	$65K	$510K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6091	−0.191%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6082	−0.340%	$379	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0185%	4h	0.6089	−0.224%	$13.9M	$56.4M	20x	as long as short
KuCoin PONSUSDTM	+0.0200%	4h	0.6100	−0.047%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0264%	4h	0.6097	−0.089%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0290%	4h	0.6101	−0.034%	$1.1M	$2.1M	20x	as long as short
MEXC PONS_USDT	+0.0364%	4h	0.6104	+0.022%	$7.9M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0364%	4h	0.6092	−0.175%	$40.0M	$96.3M	20x	as long as short
Extended PONS-USDlong	+0.0368%	1h	0.6103	long leg	$252K	$678K	5x
edgeX PONSUSDC	+0.0379%	4h	0.6082	−0.342%	$21K	$293K	10x	as long as short
Lighter PONSshort	+0.0424%	1h	0.6101	−0.029%	$1.7M	$933K	3x
BingX PONS-USDT	+0.0560%	4h	0.6097	−0.093%	—	$3.1M	—	as long as short
BloFin PONS-USDT	+0.0604%	4h	0.6096	−0.109%	$1.8M	$990K	20x	as long as short
Bybit PONSUSDT	+0.0609%	4h	0.6090	−0.207%	$18.3M	$30.9M	20x	as long as short
Nado PONS-PERP	+0.0614%	1h	0.6097	−0.093%	$105K	$115K	5x	as long as short
Pacifica PONS	+0.0665%	1h	0.6102	−0.011%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0770%	1h	0.6093	−0.153%	$44K	$1.6M	3x	as long as short
Gate PONS_USDT	+0.0832%	4h	0.6092	−0.175%	$5.3M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0874%	1h	0.6102	−0.011%	$62.0M	$29.1M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6094	−0.147%	$32K	$113K	3x	as long as short