Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0317%/8h= +34.7% APRpaid last 24h −0.065%

Price spread now: Binance against Lighter RH+0.008%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$460.458% of the position

Long on Lighter RH Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 7 days+0.052%+$5 · spread now +0.008%, 7d avg +0.026%

Together, before fees+0.062%+ Points / potential airdropLighter RH: Points live · farm board+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.026%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.010% in total (about 0.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH PONS	0.5901	0.0208	pay 0.0026% / 1h	49m 33s	$403K	$2.4M	3x
Short	Binance PONSUSDT	0.5901	0.0525	get 0.0263% / 4h	49m 33s	$38.8M	$94.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.008%Rate

Funding earned: $66.62
Price spread: +0.008% → +0.026%: −$1.75
Slippage, 4 orders: −$35.82
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: $19.05
Costs to cover: 0.458%
Break-even: 5.0 days

Slippage from Lighter RH: live order book, 3 min ago; Binance: live order book, 8 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, 3 min ago	4.82 bp	10.1 bp −$10	35.0 bp −$350	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.84 bp	12.7 bp −$13	51.3 bp −$513	207.8 bp −$20.8K	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	0.5903	+0.047%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.166%	$614	$10K	5.5x	as long as short
Lighter PONS	+0.0096%	1h	0.5907	+0.107%	$1.6M	$880K	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5908	+0.124%	$20K	$434K	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5900	−0.012%	$5.2M	$6.2M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5914	+0.220%	$34K	$350K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5918	+0.286%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5910	+0.164%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5911	+0.175%	$25K	$524K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5927	+0.451%	$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	0.5921	+0.344%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0175%	4h	0.5914	+0.233%	$1.4M	$3.9M	—	as long as short
Lighter RH PONSlong	+0.0208%	1h	0.5901	long leg	$403K	$2.4M	3x
Aevo PONS-PERP	+0.0208%	1h	0.5912	+0.186%	$368	—	3x	as long as short
Nado PONS-PERP	+0.0246%	1h	0.5901	+0.013%	$69K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0331%	4h	0.5896	−0.080%	$13.4M	$53.8M	20x	as long as short
Aster PONSUSDT	+0.0386%	4h	0.5901	+0.010%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0442%	4h	0.5899	−0.025%	$4.6M	$11.4M	20x	as long as short
Bybit PONSUSDT	+0.0461%	4h	0.5896	−0.080%	$17.6M	$30.7M	20x	as long as short
BingX PONS-USDT	+0.0504%	4h	0.5904	+0.056%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0520%	1h	0.5899	−0.022%	$105K	$808K	5x	as long as short
MEXC PONS_USDT	+0.0522%	4h	0.5900	−0.012%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDTshort	+0.0525%	4h	0.5901	+0.008%	$38.8M	$94.8M	20x
edgeX PONSUSDC	+0.0538%	4h	0.5923	+0.376%	$18K	$292K	10x	as long as short
KuCoin PONSUSDTM	+0.0544%	4h	0.5901	+0.014%	$1.6M	$3.7M	20x	as long as short
BloFin PONS-USDT	+0.0764%	4h	0.5918	+0.293%	$1.7M	$951K	20x	as long as short
Hyperliquid PONS	+0.0793%	1h	0.5906	+0.095%	$60.1M	$27.8M	3x	as long as short
Pacifica PONS	+0.0859%	1h	0.5900	−0.008%	$46K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0886%	1h	0.5901	0.000%	$65K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.5918	+0.291%	$31K	$104K	3x	as long as short