Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h +0.108%

Price spread now: Lighter RH against MEXC+0.010%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on MEXC Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 3 days (all we have)−0.042%−$4 · spread now +0.010%, 7d avg +0.028%

Together, before fees−0.050%+ Points / potential airdropLighter RH: Points live · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.008% in total (about -0.4% 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	MEXC PONS_USDT	0.6062	0.0300	pay 0.0150% / 4h	3h 55m	$7.9M	$4.8M	20x
Short	Lighter RH PONS	0.6063	0.0096	get 0.0012% / 1h	55m 57s	$424K	$2.5M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against MEXC. 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 MEXCbpFee Lighter RHbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$42.84
Price spread: +0.010% → +0.028%: −$1.83
Slippage, 4 orders: −$26.28
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$70.95
Costs to cover: 0.263%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Lighter RH: 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 MEXC live order book, 2 min ago	0.82 bp	3.6 bp −$4	14.4 bp −$144	337.6 bp −$33.8K	doesn't fit
Sell Lighter RH live order book, 2 min ago	4.94 bp	8.5 bp −$9	45.8 bp −$458	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
Gate PONS_USDT	−0.0852%	4h	0.6058	−0.066%	$5.3M	$6.1M	20x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6056	−0.099%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.526%	$614	$10K	5.5x	as long as short
Lighter RH PONSshort	+0.0096%	1h	0.6063	+0.010%	$424K	$2.5M	3x
Popdex PONSUSDT	+0.0096%	1h	0.6064	+0.033%	$20K	$417K	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6055	−0.115%	$13.8M	$57.3M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6066	+0.061%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6082	+0.330%	$33K	$357K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6067	+0.076%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6069	+0.120%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USD	+0.0100%	1h	0.6061	−0.021%	$28K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6079	+0.280%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6068	+0.099%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0146%	4h	0.6060	−0.036%	$1.7M	$3.8M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6063	+0.012%	$378	—	3x	as long as short
Aster PONSUSDT	+0.0162%	4h	0.6058	−0.064%	$1.1M	$2.2M	20x	as long as short
Bitget PONSUSDT	+0.0184%	4h	0.6061	−0.012%	$4.7M	$11.7M	20x	as long as short
MEXC PONS_USDTlong	+0.0300%	4h	0.6062	long leg	$7.9M	$4.8M	20x
Binance PONSUSDT	+0.0303%	4h	0.6060	−0.034%	$39.7M	$97.9M	20x	as long as short
Extended PONS-USD	+0.0304%	1h	0.6061	−0.019%	$252K	$679K	5x	as long as short
edgeX PONSUSDC	+0.0307%	4h	0.6072	+0.168%	$21K	$292K	10x	as long as short
Nado PONS-PERP	+0.0333%	1h	0.6064	+0.036%	$105K	$116K	5x	as long as short
Lighter PONS	+0.0336%	1h	0.6064	+0.033%	$1.7M	$894K	3x	as long as short
BloFin PONS-USDT	+0.0540%	4h	0.6067	+0.082%	$1.8M	$1.0M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6065	+0.046%	$48K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0830%	1h	0.6063	+0.021%	$41K	$1.6M	3x	as long as short
BingX PONS-USDT	+0.0916%	4h	0.6059	−0.049%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0917%	4h	0.6052	−0.165%	$18.2M	$31.3M	20x	as long as short
Hyperliquid PONS	+0.1174%	1h	0.6064	+0.036%	$61.8M	$30.0M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6073	+0.186%	$31K	$113K	3x	as long as short