Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.5662 | +0.1896 | pay 0.0237% / 1h | 29m 22s | $3.0M | $5.4M | 3x | Long Lighter7d free | |
| SHORT | 0.5657 | +0.1656 | get 0.0207% / 1h | 29m 22s | $60K | $247K | 20x | Short Kraken Futures |
Price gap−0.071%
Funding gap−0.0240% /8h
Both sides work against this direction now: funding costs $7 a day on $10k and the gap is 0.081% under its 7d average. Swap the legs.
Funding on this pair paid 1.368% 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+$137−0.0240% /8h now · paid +1.368% over the last 5 days (all we have)
Price−$8spread −0.071% now, avg +0.010% → −0.081% if it goes back
Costs−$630.631% of $10k · taker + slippage, in and out
Result+$66+0.66%+ 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−0.071%
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
2 ok · 4 to watch- Watch: Thin at this size5.4 / 23.3 bpAt $10k entering Kraken Futures costs 23.3 bp, fee and slippage, 4.3× Lighter’s.
- Note: Margin at max leverage$3,333 + $500Lighter 3x, Kraken Futures 20x. 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: −$7.20Long Lighter: 24 payments, −$56.88; short Kraken Futures: 24 payments, +$49.68.
- Watch: Gap narrower than usual−0.071% vs +0.010%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Short leg is thinner$60K vs $3.0M 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: KYCLighter No · Kraken Futures YesFull 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+0.0901%/8h × 21 periods+$189.16
Price spread−0.071% → +0.010% (7d avg)−$8.11
Slippage, 4 orderslive order books−$53.13
Fee Lighter bp × 2 orders$0.00
Fee Kraken Futures bp × 2 orders−$10.00
Net · 7 days · $10k+$117.92
Costs to cover0.631%Break-even2.6 days
Slippage: Lighter: live order book, 7 min ago; Kraken Futures: live order book, 37 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGLighter3.805.4 bp−$512.3 bp−$123doesn’t fitdoesn’t fit
SELL · SHORTKraken Futures9.7023.3 bp−$23doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-29 11:00 | gTrade (Gains Network) | Listing | PONS/USD no longer reported ($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