Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h −0.205%

Price spread now: Orderly against Lighter+0.043%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.043% dearer against Lighter than usual: you sell high and buy low (spread +0.043% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PONS	0.6006	0.0376	pay 0.0047% / 1h	0m 51s	$1.6M	$897K	3x
Short	Orderly PERP_PONS_USDC_mythos	0.6009	0.0100	get 0.0050% / 4h	0m 51s	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.043%Rate

Funding earned: −$57.96
Price spread: +0.043% → 0.000%: $4.33
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$59.63
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 6 min ago; Orderly: no order-book sample. Net counts fees only.

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, 6 min ago	4.08 bp	6.0 bp −$6	15.4 bp −$154	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.5998	−0.132%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.613%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6009	+0.045%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6025	+0.318%	$35K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythosshort	+0.0100%	4h	0.6009	+0.043%	$2K	$3K	10x
SunX PONS-USDT	+0.0100%	4h	0.6009	+0.048%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6004	−0.038%	$26K	$538K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6019	+0.211%	$65K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6009	+0.045%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6007	+0.003%	$374	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PONS-PERP	+0.0298%	1h	0.6004	−0.038%	$70K	$129K	5x	as long as short
Variational Omni PONS	+0.0303%	4h	0.6008	+0.027%	$1.4M	$3.9M	—	as long as short
OKX PONS-USDT-SWAP	+0.0322%	4h	0.6001	−0.088%	$13.6M	$55.3M	20x	as long as short
Lighter PONSlong	+0.0376%	1h	0.6006	long leg	$1.6M	$897K	3x
Lighter RH PONS	+0.0448%	1h	0.6006	−0.013%	$412K	$2.6M	3x	as long as short
Aster PONSUSDT	+0.0452%	4h	0.6006	−0.011%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0492%	4h	0.6009	+0.053%	$4.6M	$11.5M	20x	as long as short
Gate PONS_USDT	+0.0496%	4h	0.6003	−0.055%	$5.2M	$6.4M	20x	as long as short
Bybit PONSUSDT	+0.0507%	4h	0.6004	−0.038%	$17.9M	$30.9M	20x	as long as short
BingX PONS-USDT	+0.0572%	4h	0.6005	−0.022%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0600%	1h	0.6005	−0.015%	$108K	$813K	5x	as long as short
MEXC PONS_USDT	+0.0602%	4h	0.6007	+0.012%	$7.5M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0602%	4h	0.6005	−0.022%	$39.3M	$95.3M	20x	as long as short
edgeX PONSUSDC	+0.0606%	4h	0.6012	+0.088%	$18K	$293K	10x	as long as short
KuCoin PONSUSDTM	+0.0698%	4h	0.6006	−0.008%	$1.6M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0818%	1h	0.6001	−0.082%	$61.3M	$28.4M	3x	as long as short
BloFin PONS-USDT	+0.0842%	4h	0.6015	+0.145%	$1.8M	$958K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.6007	+0.018%	$47K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0862%	1h	0.6012	+0.090%	$71K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6006	0.000%	$35K	$104K	3x	as long as short