PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0505%/8h= +55.3% APRnext payment +$0.63 per $10,000 · paid last 24h −0.028%

Price spread now: Polymarket Perps against Lighter−0.052%7-day average −0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.355%−$36 on $10k

Price spread, last 7 days+0.029%+$3 · spread now −0.052%, 7d avg −0.072%

Together, before fees−0.326%+ Points / potential airdropLighter: Season 3 · farm board−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Polymarket Perps is 0.020% dearer against Lighter than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.072%. Mind the row above: over the last 7 days funding on this pair cost −0.355%, 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	0.6160	0.0480	pay 0.0060% / 1h	1m 57s	$1.7M	$859K	3x
Short	Polymarket Perps PONS-USD	0.6157	0.0985	get 0.0123% / 1h	1m 57s	$72K	$2.3M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.052%Rate

Funding earned: $106.14
Price spread: −0.052% → −0.072%: $2
Slippage, 4 orders: −$25
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $75.14
Costs to cover: 0.330%
Break-even: 2.0 days

Slippage from Lighter: live order book, 4 min ago; Polymarket Perps: live order book, 2 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	4.88 bp	6.4 bp −$6	16.6 bp −$166	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	0.81 bp	4.8 bp −$5	6.5 bp −$65	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 +0.0032% / S −0.0030%	1h	0.6151	−0.149%	$240K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6158	−0.041%	$23K	$456K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6157	−0.057%	$72K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6158	−0.041%	$30K	$299K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6165	+0.070%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6154	−0.110%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6158	−0.049%	$26K	$638K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6170	+0.149%	$66K	$535K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6164	+0.057%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6159	−0.016%	$384	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PONS_USDT	+0.0362%	4h	0.6153	−0.122%	$5.5M	$6.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0396%	4h	0.6161	+0.008%	$13.9M	$60.7M	20x	as long as short
Lighter RH PONS	+0.0432%	1h	0.6158	−0.041%	$427K	$2.7M	3x	as long as short
Aster PONSUSDT	+0.0437%	4h	0.6159	−0.026%	$1.1M	$2.3M	20x	as long as short
Lighter PONSlong	+0.0480%	1h	0.6160	long leg	$1.7M	$859K	3x
Variational Omni PONS	+0.0488%	4h	0.6153	−0.119%	$1.5M	$4.2M	—	as long as short
KuCoin PONSUSDTM	+0.0492%	4h	0.6162	+0.019%	$1.6M	$4.1M	20x	as long as short
Hyperliquid PONS	+0.0502%	1h	0.6158	−0.049%	$62.8M	$30.5M	3x	as long as short
Pacifica PONS	+0.0572%	1h	0.6158	−0.044%	$46K	$77K	3x	as long as short
MEXC PONS_USDT	+0.0588%	4h	0.6159	−0.024%	$7.8M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0596%	4h	0.6160	−0.014%	$40.0M	$105.2M	20x	as long as short
Extended PONS-USD	+0.0600%	1h	0.6157	−0.060%	$103K	$827K	5x	as long as short
edgeX PONSUSDC	+0.0605%	4h	0.6157	−0.053%	$20K	$291K	10x	as long as short
BingX PONS-USDT	+0.0659%	4h	0.6165	+0.073%	—	$3.2M	—	as long as short
Bybit PONSUSDT	+0.0671%	4h	0.6162	+0.024%	$18.4M	$33.1M	20x	as long as short
Bitget PONSUSDT	+0.0686%	4h	0.6164	+0.054%	$4.9M	$13.0M	20x	as long as short
BloFin PONS-USDT	+0.0829%	4h	0.6172	+0.187%	$1.7M	$1.1M	20x	as long as short
Polymarket Perps PONS-USDshort	+0.0985%	1h	0.6157	−0.052%	$72K	$2.3M	3x
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−3.604%	$610	$10K	5.5x	as long as short
Phoenix PONS	+0.1405%	1h	0.6148	−0.203%	$47K	$127K	3x	as long as short