PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0555%/8h= +60.8% APRnext payment +$0.69 per $10,000 · paid last 24h −0.038%

Price spread now: Polymarket Perps against Lighter RH−0.409%46s7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as 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−$310.308% of the position

Long on Lighter RH Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 7 days+0.386%+$39 · spread now −0.409%, 7d avg −0.054%

Together, before fees+0.487%+ Points / potential airdropLighter RH: Points live · farm board+$49 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.355% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.409% now, against its 7-day average of −0.054%). If the spread goes back, that is −$35 on $10k: about 2.1 days of funding at the current rate (+$17 a day). At the pace of the last 7 days (+0.101% in total) that is about 24 days. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.101% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.69 per $10,000. 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	0.6071	0.0184	pay 0.0023% / 1h	24m 37s	$428K	$2.5M	3x
Short	Polymarket Perps PONS-USD	0.6046	0.0739	get 0.0092% / 1h	24m 37s	$45K	$1.5M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.409%Rate

Funding earned: $116.59
Price spread: −0.409% → −0.054%: −$35.46
Slippage, 4 orders: −$22.84
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $50.29
Costs to cover: 0.308%
Break-even: 4.0 days

Slippage from Lighter RH: live order book, 3 min ago; Polymarket Perps: 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, 3 min ago	3.32 bp	9.7 bp −$10	33.2 bp −$332	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	2.49 bp	6.5 bp −$6	7.1 bp −$71	doesn't fit	doesn't fit

PONS on 29 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	0.6037	−0.550%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.670%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6065	−0.097%	$20K	$422K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6026	−0.748%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6017	−0.881%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6049	−0.362%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6043	−0.461%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6046	−0.410%	$26K	$518K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6063	−0.132%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6046	−0.410%	$1.7M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONSlong	+0.0184%	1h	0.6071	long leg	$428K	$2.5M	3x
Aevo PONS-PERP	+0.0184%	1h	0.6043	−0.459%	$376	—	3x	as long as short
KuCoin PONSUSDTM	+0.0218%	4h	0.6068	−0.054%	$1.7M	$3.6M	20x	as long as short
Nado PONS-PERP	+0.0222%	1h	0.6066	−0.081%	$71K	$131K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0242%	4h	0.6062	−0.147%	$13.9M	$55.2M	20x	as long as short
Bybit PONSUSDT	+0.0242%	4h	0.6058	−0.212%	$18.2M	$30.5M	20x	as long as short
Lighter PONS	+0.0256%	1h	0.6070	−0.018%	$1.7M	$884K	3x	as long as short
Bitget PONSUSDT	+0.0308%	4h	0.6067	−0.069%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0374%	4h	0.6065	−0.092%	$1.1M	$2.0M	20x	as long as short
BingX PONS-USDT	+0.0388%	4h	0.6066	−0.081%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0400%	1h	0.6065	−0.091%	$250K	$672K	5x	as long as short
MEXC PONS_USDT	+0.0402%	4h	0.6070	−0.015%	$7.8M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0408%	4h	0.6065	−0.101%	$39.8M	$94.8M	20x	as long as short
edgeX PONSUSDC	+0.0416%	4h	0.6024	−0.776%	$21K	$291K	10x	as long as short
Gate PONS_USDT	+0.0490%	4h	0.6053	−0.295%	$5.3M	$6.1M	20x	as long as short
Hyperliquid PONS	+0.0689%	1h	0.6072	+0.026%	$61.9M	$28.0M	3x	as long as short
Polymarket Perps PONS-USDshort	+0.0739%	1h	0.6046	−0.409%	$45K	$1.5M	3x
Pacifica PONS	+0.0869%	1h	0.6071	+0.008%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6031	−0.649%	$31K	$107K	3x	as long as short