Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.115%

Price spread now: SunX against Lighter RH+0.214%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$314as in the Funding arb table

Net, price: spread back to 7d avg − costs−$250as in the Price arb table

costs, in and out, $10k−$2692.691% of the position

Long on Lighter RH Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.445%−$45 on $10k

Price spread, last 4 days (all we have)+0.733%+$73 · spread now +0.214%, 7d avg +0.018%

Together, before fees+0.288%+ Points / potential airdropLighter RH: Points live · farm board+$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.196% dearer against Lighter RH than usual: you sell high and buy low (spread +0.214% now, against its 7-day average of +0.018%): +$20 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.8 days. At the pace of the last 7 days (−0.445% in total) that is about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH PONS	0.6213	0.0184	pay 0.0023% / 1h	50m 33s	$420K	$2.7M	3x
Short	SunX PONS-USDT	0.6226	0.0100	get 0.0050% / 4h	3h 50m	—	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.214%Rate

Funding earned: −$17.64
Price spread: +0.214% → +0.018%: $19.64
Slippage, 4 orders: −$261.15
Fee Lighter RH: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$267.15
Costs to cover: 2.691%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; SunX: live order book, 3 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	6.28 bp	7.2 bp −$7	46.9 bp −$469	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	106.42 bp	126.8 bp −$127	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	0.6212	−0.022%	$243K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−4.418%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6209	−0.064%	$23K	$437K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6210	−0.049%	$73K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6214	+0.016%	$31K	$294K	5x	as long as short
Polymarket Perps PONS-USD	+0.0100%	1h	0.6212	−0.008%	$73K	$2.3M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6229	+0.254%	$2K	$4K	10x	as long as short
SunX PONS-USDTshort	+0.0100%	4h	0.6226	+0.214%	—	$1.2M	10x
SoDEX PONS-USD	+0.0100%	1h	0.6219	+0.097%	$26K	$613K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6246	+0.523%	$66K	$534K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6213	0.000%	$1.7M	$3.2M	20x	as long as short
Lighter RH PONSlong	+0.0184%	1h	0.6213	long leg	$420K	$2.7M	3x
Aevo PONS-PERP	+0.0232%	1h	0.6222	+0.145%	$388	—	3x	as long as short
Hyperliquid PONS	+0.0284%	1h	0.6209	−0.064%	$63.6M	$30.7M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0385%	4h	0.6203	−0.161%	$14.1M	$60.8M	20x	as long as short
Aster PONSUSDT	+0.0443%	4h	0.6213	+0.002%	$1.1M	$2.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0482%	4h	0.6210	−0.055%	$1.6M	$4.0M	20x	as long as short
Variational Omni PONS	+0.0532%	4h	0.6223	+0.161%	$1.6M	$4.3M	—	as long as short
edgeX PONSUSDC	+0.0621%	4h	0.6216	+0.042%	$20K	$291K	10x	as long as short
MEXC PONS_USDT	+0.0622%	4h	0.6210	−0.048%	$7.9M	$4.6M	20x	as long as short
Binance PONSUSDT	+0.0622%	4h	0.6210	−0.052%	$40.7M	$104.3M	20x	as long as short
Extended PONS-USD	+0.0624%	1h	0.6209	−0.062%	$104K	$825K	5x	as long as short
Bitget PONSUSDT	+0.0690%	4h	0.6212	−0.019%	$4.9M	$13.1M	20x	as long as short
Pacifica PONS	+0.0853%	1h	0.6210	−0.049%	$47K	$77K	3x	as long as short
BloFin PONS-USDT	+0.0862%	4h	0.6222	+0.145%	$1.8M	$1.1M	20x	as long as short
Lighter PONS	+0.1040%	1h	0.6214	+0.023%	$1.7M	$867K	3x	as long as short
BingX PONS-USDT	+0.1230%	4h	0.6206	−0.113%	—	$3.3M	—	as long as short
Gate PONS_USDT	+0.1430%	4h	0.6203	−0.161%	$5.4M	$6.3M	20x	as long as short
Bybit PONSUSDT	+0.1463%	4h	0.6207	−0.097%	$18.6M	$32.9M	20x	as long as short
Phoenix PONS	+0.1714%	1h	0.6216	+0.042%	$47K	$159K	3x	as long as short