Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0484%/8h= +53.0% APRpaid last 24h −0.044%

Price spread now: KuCoin against Lighter RH+0.035%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$750.745% of the position

Long on Lighter RH Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.158%−$16 on $10k

Price spread, last 7 days−0.154%−$15 · spread now +0.035%, 7d avg −0.015%

Together, before fees−0.312%+ Points / potential airdropLighter RH: Points live · farm board−$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and KuCoin is 0.050% dearer against Lighter RH than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.015%. Mind the row above: over the last 7 days funding on this pair cost −0.158%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.158% in total (about -8.2% 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	0.5956	0.0112	pay 0.0014% / 1h	5m 37s	$412K	$2.6M	3x
Short	KuCoin PONSUSDTM	0.5958	0.0596	get 0.0298% / 4h	1h 05m	$1.6M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.035%Rate

Funding earned: $101.64
Price spread: +0.035% → −0.015%: $4.98
Slippage, 4 orders: −$62.52
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $32.09
Costs to cover: 0.745%
Break-even: 4.8 days

Slippage from Lighter RH: live order book, 2 min ago; KuCoin: 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	4.14 bp	8.4 bp −$8	30.7 bp −$307	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.19 bp	27.4 bp −$27	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 +0.0032% / S −0.0030%	1h	0.5954	−0.035%	$244K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−0.292%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5947	−0.149%	$22K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5964	+0.131%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5949	−0.122%	$70K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5921	−0.589%	$29K	$314K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5960	+0.069%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5962	+0.111%	$26K	$581K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5960	+0.064%	$65K	$526K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5954	−0.032%	$1.6M	$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
Lighter RH PONSlong	+0.0112%	1h	0.5956	long leg	$412K	$2.6M	3x
Aevo PONS-PERP	+0.0200%	1h	0.5957	+0.024%	$371	—	3x	as long as short
Hyperliquid PONS	+0.0304%	1h	0.5957	+0.017%	$60.5M	$29.5M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0419%	4h	0.5952	−0.065%	$13.4M	$55.6M	20x	as long as short
Aster PONSUSDT	+0.0465%	4h	0.5959	+0.052%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0488%	1h	0.5954	−0.027%	$102K	$807K	5x	as long as short
MEXC PONS_USDT	+0.0488%	4h	0.5957	+0.018%	$7.7M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0490%	4h	0.5950	−0.099%	$37.5M	$98.0M	20x	as long as short
edgeX PONSUSDC	+0.0500%	4h	0.5918	−0.644%	$20K	$290K	10x	as long as short
Variational Omni PONS	+0.0548%	4h	0.5964	+0.144%	$1.4M	$4.1M	—	as long as short
Pacifica PONS	+0.0556%	1h	0.5957	+0.021%	$45K	$68K	3x	as long as short
KuCoin PONSUSDTMshort	+0.0596%	4h	0.5958	+0.035%	$1.6M	$3.8M	20x
BingX PONS-USDT	+0.0656%	4h	0.5954	−0.032%	—	$3.0M	—	as long as short
Polymarket Perps PONS-USD	+0.0657%	1h	0.5960	+0.069%	$87K	$1.9M	3x	as long as short
Bybit PONSUSDT	+0.0661%	4h	0.5948	−0.133%	$17.6M	$31.2M	20x	as long as short
Bitget PONSUSDT	+0.0688%	4h	0.5960	+0.067%	$4.7M	$12.2M	20x	as long as short
BloFin PONS-USDT	+0.0723%	4h	0.5934	−0.368%	$1.7M	$944K	20x	as long as short
Gate PONS_USDT	+0.0732%	4h	0.5955	−0.015%	$5.3M	$6.3M	20x	as long as short
Lighter PONS	+0.0912%	1h	0.5959	+0.050%	$1.7M	$832K	3x	as long as short
Phoenix PONS	+0.1472%	1h	0.5918	−0.635%	$45K	$127K	3x	as long as short