Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h −0.046%

Price spread now: Gate against Lighter RH−0.098%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$630.631% of the position

Long on Lighter RH Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 7 days+0.047%+$5 · spread now −0.098%, 7d avg −0.038%

Together, before fees+0.136%+ Points / potential airdropLighter RH: Points live · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.061% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.098% now, against its 7-day average of −0.038%). If the spread goes back, that is −$6 on $10k: about 14 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.090% in total) that is about 4.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.090% in total (about 4.7% 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	0.5992	0.0120	pay 0.0015% / 1h	41m 52s	$419K	$2.5M	3x
Short	Gate PONS_USDT	0.5986	0.0460	get 0.0230% / 4h	1h 41m	$5.2M	$6.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.098%Rate

Funding earned: $71.4
Price spread: −0.098% → −0.038%: −$6.07
Slippage, 4 orders: −$48.12
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $2.21
Costs to cover: 0.631%
Break-even: 6.8 days

Slippage from Lighter RH: live order book, 1 min ago; Gate: live order book, 1 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, 1 min ago	4.41 bp	8.2 bp −$8	27.9 bp −$279	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.50 bp	19.6 bp −$20	67.9 bp −$679	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 +0.0033% / S −0.0033%	1h	0.5982	−0.158%	$237K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.374%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6002	+0.169%	$20K	$424K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5979	−0.219%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5996	+0.063%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5993	+0.017%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5992	0.000%	$26K	$516K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6004	+0.209%	$64K	$507K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5992	+0.002%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0105%	4h	0.5961	−0.516%	$1.4M	$3.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONSlong	+0.0120%	1h	0.5992	long leg	$419K	$2.5M	3x
Lighter PONS	+0.0184%	1h	0.5992	0.000%	$1.7M	$874K	3x	as long as short
Aevo PONS-PERP	+0.0200%	1h	0.5994	+0.029%	$373	—	3x	as long as short
Nado PONS-PERP	+0.0241%	1h	0.5999	+0.127%	$70K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0286%	4h	0.5983	−0.149%	$13.7M	$54.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0348%	4h	0.5986	−0.105%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0388%	4h	0.5987	−0.085%	$4.7M	$11.2M	20x	as long as short
Aster PONSUSDT	+0.0429%	4h	0.5990	−0.039%	$1.1M	$2.0M	20x	as long as short
Gate PONS_USDTshort	+0.0460%	4h	0.5986	−0.098%	$5.2M	$6.2M	20x
MEXC PONS_USDT	+0.0470%	4h	0.5984	−0.132%	$7.6M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0479%	4h	0.5984	−0.129%	$18K	$295K	10x	as long as short
Binance PONSUSDT	+0.0479%	4h	0.5985	−0.115%	$39.2M	$93.8M	20x	as long as short
Extended PONS-USD	+0.0480%	1h	0.5984	−0.124%	$248K	$670K	5x	as long as short
BingX PONS-USDT	+0.0480%	4h	0.5986	−0.098%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0491%	4h	0.5983	−0.149%	$17.9M	$30.3M	20x	as long as short
BloFin PONS-USDT	+0.0711%	4h	0.6008	+0.269%	$1.8M	$957K	20x	as long as short
Hyperliquid PONS	+0.0717%	1h	0.5991	−0.012%	$61.1M	$27.8M	3x	as long as short
Pacifica PONS	+0.0755%	1h	0.6006	+0.229%	$47K	$72K	3x	as long as short
Polymarket Perps PONS-USD	+0.0793%	1h	0.5996	+0.070%	$49K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.5984	−0.134%	$31K	$98K	3x	as long as short