PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0188%/8h= −20.6% APRnext payment −$0.24 per $10,000 · paid last 24h −0.278%

Price spread now: SoDEX against Lighter−0.037%7-day average −0.062% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1431.425% of the position

Long on Lighter Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.749%−$75 on $10k

Price spread, last 3 days (all we have)+0.318%+$32 · spread now −0.037%, 7d avg −0.062%

Together, before fees−0.431%+ Points / potential airdropLighter: Season 3 · farm board−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.024% dearer against Lighter than usual: you sell high and buy low (spread −0.037% now, against its 7-day average of −0.062%): +$2 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 3 days (−0.749% in total) that is about 2 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PONS	0.6147	0.0288	pay 0.0036% / 1h	50m 53s	$1.7M	$921K	3x
Short	SoDEX PONS-USD	0.6145	0.0100	get 0.0013% / 1h	50m 53s	$28K	$549K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$39.48
Price spread: −0.037% → −0.062%: $2.43
Slippage, 4 orders: −$134.51
Fee Lighter: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$179.56
Costs to cover: 1.425%
Break-even: never at this rate

Slippage from Lighter: live order book, 11 min ago; SoDEX: live order book, 28 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, 11 min ago	5.24 bp	8.8 bp −$9	15.3 bp −$153	doesn't fit	doesn't fit
Sell SoDEX live order book, 28 min ago	1.67 bp	59.1 bp −$59	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.888%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6136	−0.181%	$231K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6144	−0.049%	$19K	$458K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6143	−0.062%	$87K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6144	−0.049%	$18.6M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6144	−0.049%	$14.0M	$58.7M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6148	+0.021%	$1.8M	$3.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6082	−1.055%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6163	+0.257%	$33K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6154	+0.119%	$3K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.6142	−0.073%	—	$1.4M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6145	−0.037%	$28K	$549K	3x
HTX PONS-USDT	+0.0100%	4h	0.6157	+0.169%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6138	−0.146%	$1.7M	$3.3M	20x	as long as short
Bitget PONSUSDT	+0.0114%	4h	0.6151	+0.073%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6149	+0.024%	$383	—	3x	as long as short
Aster PONSUSDT	+0.0216%	4h	0.6147	+0.007%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0252%	4h	0.6109	−0.613%	$21K	$292K	10x	as long as short
BingX PONS-USDT	+0.0254%	4h	0.6146	−0.016%	—	$3.1M	—	as long as short
Lighter PONSlong	+0.0288%	1h	0.6147	long leg	$1.7M	$921K	3x
MEXC PONS_USDT	+0.0294%	4h	0.6150	+0.049%	$8.2M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0295%	4h	0.6151	+0.063%	$40.1M	$99.3M	20x	as long as short
Extended PONS-USD	+0.0296%	1h	0.6146	−0.013%	$254K	$682K	5x	as long as short
BloFin PONS-USDT	+0.0535%	4h	0.6149	+0.033%	$1.7M	$1.0M	20x	as long as short
Lighter RH PONS	+0.0608%	1h	0.6146	−0.021%	$433K	$2.6M	3x	as long as short
Polymarket Perps PONS-USD	+0.0765%	1h	0.6145	−0.029%	$42K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6144	−0.050%	$48K	$96K	3x	as long as short
Hyperliquid PONS	+0.1096%	1h	0.6149	+0.039%	$62.6M	$30.6M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6117	−0.488%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.1942%	4h	0.6143	−0.065%	$5.4M	$6.2M	20x	as long as short