Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0182%/8h= −19.9% APRpaid last 24h +0.096%

Price spread now: Lighter RH against KuCoin−0.131%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$830.826% of the position

Long on KuCoin Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.188%+$19 on $10k

Price spread, last 7 days+0.176%+$18 · spread now −0.131%, 7d avg +0.016%

Together, before fees+0.364%+ Points / potential airdropLighter RH: Points live · farm board+$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Lighter RH is 0.148% cheaper against KuCoin than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.016%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.188%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PONSUSDTM	0.6020	0.0454	pay 0.0227% / 4h	1h 12m	$1.7M	$3.7M	20x
Short	Lighter RH PONS	0.6012	0.0272	get 0.0034% / 1h	12m 01s	$417K	$2.5M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against KuCoin. 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 KuCoinbpFee Lighter RHbpOrdersPrice spread, now −0.131%Rate

Funding earned: −$38.22
Price spread: −0.131% → +0.016%: −$14.77
Slippage, 4 orders: −$70.63
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$135.62
Costs to cover: 0.826%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Lighter RH: live order book, 1 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 KuCoin live order book, 5 min ago	4.82 bp	28.2 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 1 min ago	4.65 bp	7.5 bp −$8	60.7 bp −$607	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	0.6002	−0.292%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.839%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6020	0.000%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6020	0.000%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6016	−0.066%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6026	+0.098%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6012	−0.133%	$26K	$521K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6021	+0.017%	$64K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6001	−0.316%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0178%	4h	0.6039	+0.313%	$1.4M	$3.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0216%	1h	0.6015	−0.083%	$375	—	3x	as long as short
Nado PONS-PERP	+0.0217%	1h	0.6022	+0.027%	$71K	$129K	5x	as long as short
Gate PONS_USDT	+0.0226%	4h	0.6007	−0.216%	$5.2M	$6.3M	20x	as long as short
Lighter RH PONSshort	+0.0272%	1h	0.6012	−0.131%	$417K	$2.5M	3x
OKX PONS-USDT-SWAP	+0.0314%	4h	0.6019	−0.017%	$13.6M	$55.1M	20x	as long as short
Lighter PONS	+0.0344%	1h	0.6013	−0.118%	$1.7M	$876K	3x	as long as short
Bitget PONSUSDT	+0.0412%	4h	0.6024	+0.058%	$4.7M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0442%	4h	0.6008	−0.203%	$1.1M	$2.1M	20x	as long as short
KuCoin PONSUSDTMlong	+0.0454%	4h	0.6020	long leg	$1.7M	$3.7M	20x
Bybit PONSUSDT	+0.0480%	4h	0.6023	+0.050%	$18.0M	$30.6M	20x	as long as short
BingX PONS-USDT	+0.0496%	4h	0.6009	−0.183%	—	$3.0M	—	as long as short
edgeX PONSUSDC	+0.0512%	4h	0.6021	+0.025%	$18K	$294K	10x	as long as short
Binance PONSUSDT	+0.0527%	4h	0.6025	+0.085%	$39.7M	$94.6M	20x	as long as short
Extended PONS-USD	+0.0528%	1h	0.6020	+0.007%	$249K	$671K	5x	as long as short
MEXC PONS_USDT	+0.0532%	4h	0.6024	+0.066%	$7.6M	$4.7M	20x	as long as short
Hyperliquid PONS	+0.0744%	1h	0.6011	−0.142%	$61.2M	$27.9M	3x	as long as short
Pacifica PONS	+0.0755%	1h	0.6022	+0.034%	$47K	$70K	3x	as long as short
BloFin PONS-USDT	+0.0772%	4h	0.6022	+0.033%	$1.7M	$967K	20x	as long as short
Polymarket Perps PONS-USD	+0.0845%	1h	0.6020	−0.002%	$69K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.6022	+0.032%	$31K	$98K	3x	as long as short