Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0133%/8h= +14.6% APRpaid last 24h −0.036%

Price spread now: BloFin against Lighter RH+0.099%61s7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.492% of the position

Long on Lighter RH Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.513%+$51 on $10k

Price spread, last 3 days (all we have)+0.135%+$13 · spread now +0.099%, 7d avg +0.022%

Together, before fees+0.647%+ Points / potential airdropLighter RH: Points live · farm board+$65 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.077% dearer against Lighter RH than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.022%. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH PONS	0.6152	0.0408	pay 0.0051% / 1h	48m 13s	$433K	$2.6M	3x
Short	BloFin PONS-USDT	0.6158	0.0541	get 0.0271% / 4h	48m 13s	$1.7M	$1.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.099%Rate

Funding earned: $27.93
Price spread: +0.099% → +0.022%: $7.69
Slippage, 4 orders: −$37.17
Fee Lighter RH: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$13.55
Costs to cover: 0.492%
Break-even: 10.4 days

Slippage from Lighter RH: live order book, 5 min ago; BloFin: live order book, 4 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, 5 min ago	4.14 bp	10.4 bp −$10	32.7 bp −$327	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	5.69 bp	12.8 bp −$13	30.1 bp −$301	116.8 bp −$11.7K	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	−2.965%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6145	−0.114%	$231K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6157	+0.083%	$20K	$459K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6153	+0.022%	$87K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6152	+0.002%	$18.6M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6154	+0.034%	$14.0M	$58.8M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6139	−0.214%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6159	+0.111%	$33K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6158	+0.106%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6158	+0.102%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USD	+0.0100%	1h	0.6152	+0.002%	$28K	$551K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6177	+0.415%	$66K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6147	−0.080%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0108%	4h	0.6154	+0.033%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0122%	4h	0.6157	+0.085%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6150	−0.037%	$383	—	3x	as long as short
Aster PONSUSDT	+0.0211%	4h	0.6150	−0.023%	$1.1M	$2.2M	20x	as long as short
BingX PONS-USDT	+0.0284%	4h	0.6152	+0.002%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0300%	4h	0.6155	+0.050%	$8.1M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0301%	4h	0.6154	+0.041%	$40.1M	$99.3M	20x	as long as short
edgeX PONSUSDC	+0.0302%	4h	0.6149	−0.045%	$21K	$293K	10x	as long as short
Extended PONS-USD	+0.0304%	1h	0.6151	−0.016%	$254K	$682K	5x	as long as short
Lighter RH PONSlong	+0.0408%	1h	0.6152	long leg	$433K	$2.6M	3x
Lighter PONS	+0.0464%	1h	0.6154	+0.028%	$1.7M	$921K	3x	as long as short
BloFin PONS-USDTshort	+0.0541%	4h	0.6158	+0.099%	$1.7M	$1.0M	20x
Polymarket Perps PONS-USD	+0.0723%	1h	0.6157	+0.086%	$42K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6157	+0.079%	$49K	$96K	3x	as long as short
Hyperliquid PONS	+0.1026%	1h	0.6156	+0.073%	$62.6M	$30.7M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6150	−0.023%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2052%	4h	0.6150	−0.031%	$5.4M	$6.2M	20x	as long as short