PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0340%/8h= −37.2% APRnext payment −$0.43 per $10,000 · paid last 24h −0.127%

Price spread now: Nado against Lighter+0.006%7-day average −0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1031.035% of the position

Long on Lighter Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.593%−$59 on $10k

Price spread, last 4 days (all we have)+0.199%+$20 · spread now +0.006%, 7d avg −0.052%

Together, before fees−0.394%+ Points / potential airdropLighter: Season 3 · Nado: Active · farm board−$39 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.059% dearer against Lighter than usual: you sell high and buy low (spread +0.006% now, against its 7-day average of −0.052%): +$6 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PONS	0.5915	0.0440	pay 0.0055% / 1h	9m 56s	$1.6M	$894K	3x
Short	Nado PONS-PERP	0.5915	0.0100	get 0.0012% / 1h	9m 56s	$69K	$130K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.006%Rate

Funding earned: −$71.4
Price spread: +0.006% → −0.052%: $5.88
Slippage, 4 orders: −$103.5
Fee Lighter: 0 bp × 2 orders: $0
Fee Nado: 0 bp × 2 orders: $0
Net: −$169.01
Costs to cover: 1.035%
Break-even: never at this rate

Slippage from Lighter: live order book, 1 min ago; Nado: live order book, 33 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, 1 min ago	4.39 bp	5.8 bp −$6	15.9 bp −$159	doesn't fit	doesn't fit
Sell Nado live order book, 33 min ago	14.57 bp	49.0 bp −$49	doesn't fit	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 −0.0032%	1h	0.5905	−0.161%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.925%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5912	−0.054%	$416K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5911	−0.064%	$21K	$417K	20x	as long as short
Nado PONS-PERPshort	+0.0100%	1h	0.5915	+0.006%	$69K	$130K	5x
ApeX Omni PONSUSDT	+0.0100%	1h	0.5935	+0.338%	$34K	$339K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5918	+0.051%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5917	+0.036%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5912	−0.046%	$25K	$541K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5933	+0.309%	$64K	$512K	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	0.5923	+0.139%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5914	−0.014%	$368	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0353%	4h	0.5915	+0.003%	$13.5M	$54.1M	20x	as long as short
Gate PONS_USDT	+0.0382%	4h	0.5914	−0.014%	$5.2M	$6.3M	20x	as long as short
Lighter PONSlong	+0.0440%	1h	0.5915	long leg	$1.6M	$894K	3x
Variational Omni PONS	+0.0440%	4h	0.5911	−0.057%	$1.4M	$4.0M	—	as long as short
Hyperliquid PONS	+0.0476%	1h	0.5914	−0.007%	$60.5M	$28.1M	3x	as long as short
Aster PONSUSDT	+0.0509%	4h	0.5906	−0.153%	$1.1M	$2.2M	20x	as long as short
Bitget PONSUSDT	+0.0538%	4h	0.5917	+0.041%	$4.6M	$11.6M	20x	as long as short
Extended PONS-USD	+0.0608%	1h	0.5911	−0.060%	$106K	$807K	5x	as long as short
MEXC PONS_USDT	+0.0608%	4h	0.5916	+0.020%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0608%	4h	0.5915	+0.006%	$38.7M	$94.2M	20x	as long as short
edgeX PONSUSDC	+0.0610%	4h	0.5945	+0.508%	$18K	$292K	10x	as long as short
BingX PONS-USDT	+0.0716%	4h	0.5917	+0.037%	—	$3.0M	—	as long as short
Polymarket Perps PONS-USD	+0.0735%	1h	0.5914	−0.022%	$80K	$1.7M	3x	as long as short
KuCoin PONSUSDTM	+0.0740%	4h	0.5914	−0.012%	$1.6M	$3.8M	20x	as long as short
Bybit PONSUSDT	+0.0826%	4h	0.5913	−0.030%	$17.6M	$30.7M	20x	as long as short
BloFin PONS-USDT	+0.0848%	4h	0.5922	+0.122%	$1.7M	$942K	20x	as long as short
Pacifica PONS	+0.1081%	1h	0.5915	+0.009%	$46K	$68K	3x	as long as short
Phoenix PONS	+0.1586%	1h	0.5945	+0.516%	$45K	$109K	3x	as long as short