Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.156%

Price spread now: Lighter RH against OKX+0.114%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$350.355% of the position

Long on OKX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.168%+$17 on $10k

Price spread, last 7 days−0.142%−$14 · spread now +0.114%, 7d avg +0.026%

Together, before fees+0.026%+ Points / potential airdropLighter RH: Points live · farm board+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.088% dearer against OKX than usual: you sell high and buy low (spread +0.114% now, against its 7-day average of +0.026%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.168%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PONS-USDT-SWAP	0.6138	0.0211	pay 0.0105% / 4h	3h 09m	$14.1M	$56.7M	20x
Short	Lighter RH PONS	0.6145	0.0144	get 0.0018% / 1h	9m 35s	$435K	$2.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against OKX. 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 OKXbpFee Lighter RHbpOrdersPrice spread, now +0.114%Rate

Funding earned: −$14
Price spread: +0.114% → +0.026%: $8.77
Slippage, 4 orders: −$25.49
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$40.73
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Lighter RH: 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 OKX live order book, 4 min ago	1.63 bp	11.0 bp −$11	21.5 bp −$215	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	4.32 bp	5.1 bp −$5	49.3 bp −$493	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 +0.0033% / S −0.0033%	1h	0.6129	−0.152%	$243K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.745%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6145	+0.114%	$21K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6118	−0.326%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6111	−0.435%	$33K	$356K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6147	+0.143%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6142	+0.070%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6139	+0.024%	$27K	$543K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6143	+0.088%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6135	−0.049%	$1.7M	$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 PONSshort	+0.0144%	1h	0.6145	+0.114%	$435K	$2.6M	3x
Aevo PONS-PERP	+0.0176%	1h	0.6141	+0.041%	$383	—	3x	as long as short
OKX PONS-USDT-SWAPlong	+0.0211%	4h	0.6138	long leg	$14.1M	$56.7M	20x
KuCoin PONSUSDTM	+0.0220%	4h	0.6145	+0.109%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0278%	4h	0.6151	+0.209%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0340%	4h	0.6148	+0.159%	$1.1M	$2.0M	20x	as long as short
MEXC PONS_USDT	+0.0388%	4h	0.6146	+0.130%	$8.0M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0389%	4h	0.6146	+0.130%	$40.4M	$96.1M	20x	as long as short
Extended PONS-USD	+0.0392%	1h	0.6147	+0.140%	$253K	$677K	5x	as long as short
edgeX PONSUSDC	+0.0398%	4h	0.6124	−0.235%	$21K	$291K	10x	as long as short
Lighter PONS	+0.0496%	1h	0.6145	+0.114%	$1.7M	$943K	3x	as long as short
Nado PONS-PERP	+0.0591%	1h	0.6143	+0.088%	$106K	$115K	5x	as long as short
BingX PONS-USDT	+0.0592%	4h	0.6149	+0.179%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0620%	4h	0.6143	+0.081%	$18.5M	$30.9M	20x	as long as short
BloFin PONS-USDT	+0.0631%	4h	0.6126	−0.196%	$1.8M	$996K	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6147	+0.142%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0798%	1h	0.6141	+0.046%	$45K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0872%	1h	0.6148	+0.156%	$62.6M	$28.8M	3x	as long as short
Gate PONS_USDT	+0.1384%	4h	0.6141	+0.049%	$5.4M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6139	+0.018%	$32K	$113K	3x	as long as short