PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0981%/8h= +107.5% APRnext payment +$1.23 per $10,000 · paid last 24h +0.281%

Price spread now: Phoenix against Lighter RH+0.114%75s7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs+$104as 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−$590.590% of the position

Long on Lighter RH Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+1.632%+$163 on $10k

Price spread, last 4 days (all we have)+0.248%+$25 · spread now +0.114%, 7d avg −0.015%

Together, before fees+1.880%+ Points / potential airdropLighter RH: Points live · farm board+$188 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$29 a day on $10k at the current rate, and Phoenix is 0.129% dearer against Lighter RH than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.015%. The two prices were read 75 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	0.6155	0.0424	pay 0.0053% / 1h	59m 48s	$427K	$2.7M	3x
Short	Phoenix PONS	0.6162	0.1405	get 0.0176% / 1h	59m 48s	$47K	$127K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.114%Rate

Funding earned: $206.07
Price spread: +0.114% → −0.015%: $12.89
Slippage, 4 orders: −$51.96
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $160
Costs to cover: 0.590%
Break-even: 1.6 days

Slippage from Lighter RH: live order book, 3 min ago; Phoenix: live order book, 31 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	4.55 bp	9.2 bp −$9	29.5 bp −$295	doesn't fit	doesn't fit
Sell Phoenix live order book, 31 min ago	4.41 bp	20.9 bp −$21	71.3 bp −$713	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	0.6148	−0.120%	$240K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6157	+0.032%	$23K	$456K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6152	−0.047%	$72K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6164	+0.148%	$30K	$299K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6163	+0.130%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6150	−0.076%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6156	+0.016%	$26K	$634K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6168	+0.203%	$66K	$536K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6153	−0.032%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6162	+0.115%	$384	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PONS	+0.0323%	1h	0.6157	+0.032%	$62.8M	$30.6M	3x	as long as short
Gate PONS_USDT	+0.0348%	4h	0.6153	−0.032%	$5.5M	$6.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0390%	4h	0.6157	+0.032%	$13.9M	$60.6M	20x	as long as short
Lighter RH PONSlong	+0.0424%	1h	0.6155	long leg	$427K	$2.7M	3x
Aster PONSUSDT	+0.0433%	4h	0.6157	+0.032%	$1.1M	$2.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0484%	4h	0.6159	+0.057%	$1.6M	$4.1M	20x	as long as short
Variational Omni PONS	+0.0494%	4h	0.6148	−0.119%	$1.6M	$4.3M	—	as long as short
Lighter PONS	+0.0496%	1h	0.6159	+0.060%	$1.7M	$859K	3x	as long as short
Pacifica PONS	+0.0572%	1h	0.6154	−0.019%	$46K	$77K	3x	as long as short
Extended PONS-USD	+0.0592%	1h	0.6157	+0.025%	$103K	$824K	5x	as long as short
Binance PONSUSDT	+0.0592%	4h	0.6161	+0.097%	$40.0M	$105.2M	20x	as long as short
MEXC PONS_USDT	+0.0596%	4h	0.6157	+0.032%	$7.8M	$4.8M	20x	as long as short
edgeX PONSUSDC	+0.0603%	4h	0.6164	+0.140%	$20K	$292K	10x	as long as short
BingX PONS-USDT	+0.0654%	4h	0.6162	+0.114%	—	$3.2M	—	as long as short
Bybit PONSUSDT	+0.0663%	4h	0.6159	+0.065%	$18.4M	$33.0M	20x	as long as short
Bitget PONSUSDT	+0.0680%	4h	0.6162	+0.112%	$4.9M	$13.0M	20x	as long as short
BloFin PONS-USDT	+0.0836%	4h	0.6155	0.000%	$1.8M	$1.1M	20x	as long as short
Polymarket Perps PONS-USD	+0.0949%	1h	0.6149	−0.106%	$72K	$2.3M	3x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−3.517%	$610	$10K	5.5x	as long as short
Phoenix PONSshort	+0.1405%	1h	0.6162	+0.114%	$47K	$127K	3x