Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0348%/8h= −38.1% APRpaid last 24h −0.149%

Price spread now: HTX against Lighter RH+0.328%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$351as in the Funding arb table

Net, price: spread back to 7d avg − costs−$275as in the Price arb table

costs, in and out, $10k−$3073.066% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.443%−$44 on $10k

Price spread, last 4 days (all we have)−0.229%−$23 · spread now +0.328%, 7d avg +0.014%

Together, before fees−0.672%+ Points / potential airdropLighter RH: Points live · farm board−$67 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.314% dearer against Lighter RH than usual: you sell high and buy low (spread +0.328% now, against its 7-day average of +0.014%): +$31 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH PONS	0.6041	0.0448	pay 0.0056% / 1h	23m 56s	$409K	$2.5M	3x
Short	HTX PONS-USDT	0.6060	0.0100	get 0.0050% / 4h	23m 56s	$66K	$512K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.328%Rate

Funding earned: −$73.08
Price spread: +0.328% → +0.014%: $31.36
Slippage, 4 orders: −$294.6
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$348.32
Costs to cover: 3.066%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; HTX: live order book, 35 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, 4 min ago	2.58 bp	10.0 bp −$10	36.5 bp −$365	doesn't fit	doesn't fit
Sell HTX live order book, 35 min ago	39.36 bp	180.0 bp −$180	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
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0032%	1h	0.6027	−0.219%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.179%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6036	−0.078%	$20K	$435K	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.6033	−0.127%	$5.3M	$6.3M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6000	−0.665%	$34K	$348K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6042	+0.025%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6046	+0.091%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6038	−0.038%	$26K	$533K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.6060	+0.328%	$66K	$512K	20x
Phemex PONSUSDT	+0.0100%	4h	0.6033	−0.127%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0224%	1h	0.6040	−0.003%	$376	—	3x	as long as short
Variational Omni PONS	+0.0242%	4h	0.6026	−0.237%	$1.4M	$4.0M	—	as long as short
Nado PONS-PERP	+0.0279%	1h	0.6036	−0.070%	$71K	$129K	5x	as long as short
Lighter PONS	+0.0288%	1h	0.6041	0.000%	$1.7M	$884K	3x	as long as short
OKX PONS-USDT-SWAP	+0.0323%	4h	0.6050	+0.154%	$13.8M	$55.5M	20x	as long as short
Lighter RH PONSlong	+0.0448%	1h	0.6041	long leg	$409K	$2.5M	3x
Bybit PONSUSDT	+0.0461%	4h	0.6049	+0.137%	$18.0M	$30.8M	20x	as long as short
Aster PONSUSDT	+0.0473%	4h	0.6043	+0.033%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0474%	4h	0.6054	+0.223%	$4.6M	$11.5M	20x	as long as short
BingX PONS-USDT	+0.0542%	4h	0.6051	+0.171%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0586%	4h	0.6046	+0.088%	$7.7M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0588%	4h	0.6012	−0.472%	$18K	$292K	10x	as long as short
Extended PONS-USD	+0.0600%	1h	0.6043	+0.031%	$108K	$812K	5x	as long as short
Binance PONSUSDT	+0.0601%	4h	0.6046	+0.086%	$39.6M	$95.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0654%	4h	0.6041	+0.013%	$1.7M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0772%	1h	0.6043	+0.040%	$61.8M	$28.2M	3x	as long as short
BloFin PONS-USDT	+0.0827%	4h	0.6041	+0.005%	$1.7M	$956K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.6042	+0.022%	$48K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0909%	1h	0.6036	−0.074%	$73K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6020	−0.346%	$31K	$104K	3x	as long as short