Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0296%/8h= +32.4% APRpaid last 24h −0.064%

Price spread now: BingX against Lighter+0.138%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.259%−$26 on $10k

Price spread, last 4 days (all we have)−0.122%−$12 · spread now +0.138%, 7d avg −0.030%

Together, before fees−0.381%+ Points / potential airdropLighter: Season 3 · farm board−$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and BingX is 0.167% dearer against Lighter than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.030%. Mind the row above: over the last 7 days funding on this pair cost −0.259%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PONS	0.6030	0.0512	pay 0.0064% / 1h	31m 42s	$1.7M	$892K	3x
Short	BingX PONS-USDT	0.6038	0.0808	get 0.0404% / 4h	3h 31m	—	$2.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now +0.138%Rate

Funding earned: $62.16
Price spread: +0.138% → −0.030%: $16.74
Slippage, 4 orders: −$20.95
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $47.95
Costs to cover: 0.309%
Break-even: 1.6 days

Slippage from Lighter: live order book, 5 min ago; BingX: 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 Lighter live order book, 5 min ago	2.24 bp	2.6 bp −$3	31.9 bp −$319	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	2.49 bp	12.8 bp −$13	38.5 bp −$385	152.4 bp −$15.2K	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 −0.0032%	1h	0.6018	−0.190%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.998%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6031	+0.022%	$21K	$416K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6030	+0.005%	$71K	$129K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6023	−0.113%	$35K	$342K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6036	+0.109%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6025	−0.071%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6027	−0.053%	$26K	$531K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6037	+0.126%	$65K	$513K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6029	−0.012%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0160%	1h	0.6029	−0.013%	$412K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6031	+0.030%	$376	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0347%	4h	0.6031	+0.022%	$13.7M	$55.2M	20x	as long as short
Variational Omni PONS	+0.0398%	4h	0.6017	−0.203%	$1.5M	$3.9M	—	as long as short
Hyperliquid PONS	+0.0489%	1h	0.6031	+0.023%	$61.7M	$28.0M	3x	as long as short
Lighter PONSlong	+0.0512%	1h	0.6030	long leg	$1.7M	$892K	3x
Aster PONSUSDT	+0.0518%	4h	0.6029	−0.008%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0524%	4h	0.6035	+0.088%	$4.6M	$11.5M	20x	as long as short
MEXC PONS_USDT	+0.0622%	4h	0.6032	+0.038%	$7.7M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0624%	1h	0.6031	+0.025%	$108K	$808K	5x	as long as short
edgeX PONSUSDC	+0.0627%	4h	0.6032	+0.035%	$18K	$293K	10x	as long as short
Binance PONSUSDT	+0.0629%	4h	0.6033	+0.049%	$39.5M	$94.3M	20x	as long as short
Polymarket Perps PONS-USD	+0.0689%	1h	0.6028	−0.027%	$72K	$1.6M	3x	as long as short
KuCoin PONSUSDTM	+0.0742%	4h	0.6028	−0.023%	$1.6M	$3.8M	20x	as long as short
Gate PONS_USDT	+0.0768%	4h	0.6025	−0.078%	$5.3M	$6.2M	20x	as long as short
BingX PONS-USDTshort	+0.0808%	4h	0.6038	+0.138%	—	$2.9M	—
BloFin PONS-USDT	+0.0863%	4h	0.6031	+0.022%	$1.7M	$966K	20x	as long as short
Pacifica PONS	+0.1081%	1h	0.6031	+0.022%	$47K	$67K	3x	as long as short
Bybit PONSUSDT	+0.1123%	4h	0.6029	−0.012%	$18.1M	$30.6M	20x	as long as short
Phoenix PONS	+0.1586%	1h	0.6028	−0.020%	$46K	$109K	3x	as long as short