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: Extended against Lighter+0.023%7-day average −0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

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

Long on Lighter Short on Extended

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)+0.045%+$5 · spread now +0.023%, 7d avg −0.072%

Together, before fees−0.292%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.095% dearer against Lighter than usual: you sell high and buy low (spread +0.023% now, against its 7-day average of −0.072%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.7 days. At the pace of the last 7 days (−0.337% in total) that is about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PONS	0.6091	0.0424	pay 0.0053% / 1h	17m 06s	$1.7M	$933K	3x
Short	Extended PONS-USD	0.6093	0.0368	get 0.0046% / 1h	17m 06s	$252K	$678K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$11.76
Price spread: +0.023% → −0.072%: $9.5
Slippage, 4 orders: −$65.04
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$72.3
Costs to cover: 0.700%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Extended: live order book, 56 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, 4 min ago	3.53 bp	4.8 bp −$5	12.1 bp −$121	doesn't fit	doesn't fit
Sell Extended live order book, 56 min ago	10.10 bp	23.7 bp −$24	216.2 bp −$2,162	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	−0.207%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.000%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6091	−0.008%	$429K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6095	+0.061%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6082	−0.153%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6093	+0.034%	$33K	$358K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6098	+0.103%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6094	+0.048%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6092	+0.008%	$28K	$544K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6103	+0.187%	$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	−0.005%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6082	−0.154%	$379	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0185%	4h	0.6102	+0.176%	$13.9M	$56.6M	20x	as long as short
KuCoin PONSUSDTM	+0.0198%	4h	0.6093	+0.023%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0262%	4h	0.6097	+0.100%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0271%	4h	0.6093	+0.035%	$1.1M	$2.1M	20x	as long as short
MEXC PONS_USDT	+0.0360%	4h	0.6094	+0.044%	$7.9M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0364%	4h	0.6101	+0.164%	$40.1M	$96.3M	20x	as long as short
Extended PONS-USDshort	+0.0368%	1h	0.6093	+0.023%	$252K	$678K	5x
edgeX PONSUSDC	+0.0379%	4h	0.6082	−0.156%	$21K	$293K	10x	as long as short
Lighter PONSlong	+0.0424%	1h	0.6091	long leg	$1.7M	$933K	3x
BingX PONS-USDT	+0.0560%	4h	0.6100	+0.143%	—	$3.1M	—	as long as short
BloFin PONS-USDT	+0.0604%	4h	0.6096	+0.077%	$1.8M	$990K	20x	as long as short
Nado PONS-PERP	+0.0612%	1h	0.6094	+0.044%	$105K	$115K	5x	as long as short
Bybit PONSUSDT	+0.0614%	4h	0.6102	+0.176%	$18.3M	$30.9M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6092	+0.011%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0770%	1h	0.6093	+0.033%	$44K	$1.6M	3x	as long as short
Gate PONS_USDT	+0.0780%	4h	0.6084	−0.120%	$5.3M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0874%	1h	0.6098	+0.117%	$62.0M	$29.1M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6094	+0.039%	$32K	$113K	3x	as long as short