Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0251%/8h= −27.4% APRpaid last 24h −0.155%

Price spread now: Aster against Lighter RH+0.003%7-day average −0.048% · you sell dearer than you buy

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−$360.359% of the position

Long on Lighter RH Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.332%−$33 on $10k

Price spread, last 7 days−0.089%−$9 · spread now +0.003%, 7d avg −0.048%

Together, before fees−0.421%+ Points / potential airdropLighter RH: Points live · Aster: Stage 5 · farm board−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.052% dearer against Lighter RH than usual: you sell high and buy low (spread +0.003% now, against its 7-day average of −0.048%): +$5 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH PONS	0.5868	0.0448	pay 0.0056% / 1h	36m 21s	$392K	$2.6M	3x
Short	Aster PONSUSDT	0.5868	0.0197	get 0.0099% / 4h	2h 36m	$1.1M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter RH. 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 Lighter RHbpFee AsterbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$52.63
Price spread: +0.003% → −0.048%: $5.17
Slippage, 4 orders: −$27.91
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$83.37
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; Aster: 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 RH live order book, 2 min ago	3.59 bp	9.7 bp −$10	41.5 bp −$415	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	1.54 bp	10.4 bp −$10	34.5 bp −$345	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 −0.0034%	1h	0.5856	−0.195%	$215K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.881%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5865	−0.049%	$21K	$448K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5863	−0.084%	$17.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5864	−0.066%	$13.4M	$55.7M	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5858	−0.169%	$5.1M	$6.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5862	−0.094%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5870	+0.032%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5819	−0.841%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5822	−0.777%	$34K	$329K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5873	+0.078%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5864	−0.063%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5863	−0.078%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5866	−0.037%	$63K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5865	−0.049%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5858	−0.174%	$365	—	3x	as long as short
Extended PONS-USD	+0.0152%	1h	0.5865	−0.043%	$104K	$531K	5x	as long as short
MEXC PONS_USDT	+0.0154%	4h	0.5867	−0.015%	$7.5M	$5.2M	20x	as long as short
BingX PONS-USDT	+0.0154%	4h	0.5866	−0.032%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0158%	1h	0.5866	−0.032%	$89K	$103K	5x	as long as short
Binance PONSUSDT	+0.0161%	4h	0.5866	−0.032%	$38.1M	$98.3M	20x	as long as short
edgeX PONSUSDC	+0.0163%	4h	0.5834	−0.586%	$20K	$292K	10x	as long as short
Aster PONSUSDTshort	+0.0197%	4h	0.5868	+0.003%	$1.1M	$2.2M	20x
Polymarket Perps PONS-USD	+0.0325%	1h	0.5867	−0.020%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0396%	4h	0.5860	−0.135%	$1.7M	$961K	20x	as long as short
Lighter RH PONSlong	+0.0448%	1h	0.5868	long leg	$392K	$2.6M	3x
Pacifica PONS	+0.0474%	1h	0.5866	−0.036%	$46K	$103K	3x	as long as short
Hyperliquid PONS	+0.0556%	1h	0.5870	+0.034%	$58.6M	$29.9M	3x	as long as short
Lighter PONS	+0.1024%	1h	0.5871	+0.046%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5836	−0.537%	$27K	$86K	3x	as long as short