Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.5680 | +0.1485 | pay 0.0186% / 1h | 3m 31s | $54K | $232K | 20x | Long Kraken Futures | |
| SHORT | 0.5701 | +0.1864 | get 0.0233% / 1h | 3m 31s | $3.1M | $5.5M | 3x | Short Lighter7d free |
Price gap+0.372%
Funding gap+0.0379% /8h
Both sides work: funding pays +$11 a day on $10k, and the gap is 0.381% above its 7d average: +$38 more if it goes back.
Funding on this pair cost 1.373% over the last 7 days: the rate has only just turned.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$137+0.0379% /8h now · paid −1.373% over the last 5 days (all we have)
Price+$38spread +0.372% now, avg −0.009% → +0.381% if it goes back
Costs−$680.680% of $10k · taker + slippage, in and out
Result−$167−1.67%+ Points / potential airdropLighter: Season 3 · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now+0.372%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hPONS on 32 exchanges
lowest funding firstBefore you open
3 ok · 3 to watch- Watch: Thin at this size26.1 / 8.0 bpAt $10k entering Kraken Futures costs 26.1 bp, fee and slippage, 3.3× Lighter’s.
- Note: Margin at max leverage$500 + $3,333Kraken Futures 20x, Lighter 3x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval1h / 1hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: +$11.37Long Kraken Futures: 24 payments, −$44.55; short Lighter: 24 payments, +$55.92.
- OK: Entry gap works for you+0.372% vs −0.009%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$54K vs $3.1M OIKraken Futures sets your exit cost. Check its book before closing.
- OK: Points on a legLighter Season 3Volume here counts toward the points program.
- Watch: KYCKraken Futures Yes · Lighter NoFull verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0908%/8h × 21 periods−$190.71
Price spread+0.372% → −0.009% (7d avg)+$38.12
Slippage, 4 orderslive order books−$58.02
Fee Kraken Futures bp × 2 orders−$10.00
Fee Lighter bp × 2 orders$0.00
Net · 7 days · $10k−$220.61
Costs to cover0.680%Break-evennever at this rate
Slippage: Kraken Futures: live order book, 3 min ago; Lighter: live order book, 8 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGKraken Futures9.7026.1 bp−$26doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTLighter6.168.0 bp−$812.2 bp−$122648.9 bp−$64.9Kdoesn’t fit
Closing costs about the same again.
| 09-29 11:00 | gTrade (Gains Network) | Listing | PONS/USD no longer reported ($PONS) seen by our collector |
| 09-29 02:27 | Arcus | Listing | $PONS perpetuals are now live on Arcus. Up to 4x leverage. @arcus_xyz on X ↗ |
| 09-28 19:23 | Arcus | Listing | new market PONS-USD ($PONS) seen by our collector |
| 09-25 11:16 | Kraken Futures | Listing | new market PF_PONSUSD ($PONS) seen by our collector |
| 09-22 17:11 | Avantis | Listing | new market PONS/USD ($PONS) seen by our collector |
| 09-22 13:03 | Bybit | Other | 📣 $PONS is officially listed on #BybitSpot with @ponsdotfamily! Pons is a token launchpad on the Robinhood blockchain, where users can pair tokens with Stock Tokens, ETH, USDG, and more. Tokens are launched through a "fair launch" process with a bonding curve. @Bybit_Official on X ↗ |
gTrade (Gains Network)
Arcus
Avantis
Bybit