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: Lighter RH against Polymarket Perps+0.410%46s7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as 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 Polymarket Perps Short on Lighter RH

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−0.388%−$39 · spread now +0.410%, 7d avg +0.054%

Together, before fees−0.489%+ Points / potential airdropLighter RH: Points live · farm board−$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.356% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.410% now, against its 7-day average of +0.054%): +$36 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 7 days (−0.101% in total) that is about 25 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	Polymarket Perps PONS-USD	0.6046	0.0739	pay 0.0092% / 1h	24m 38s	$45K	$1.5M	3x
Short	Lighter RH PONS	0.6071	0.0184	get 0.0023% / 1h	24m 38s	$428K	$2.5M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Polymarket Perps. 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 Polymarket PerpsbpFee Lighter RHbpOrdersPrice spread, now +0.410%Rate

Funding earned: −$116.59
Price spread: +0.410% → +0.054%: $35.63
Slippage, 4 orders: −$22.84
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$111.8
Costs to cover: 0.308%
Break-even: from the start

Slippage from Polymarket Perps: 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 Polymarket Perps live order book, 4 min ago	2.49 bp	7.3 bp −$7	7.6 bp −$76	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	3.32 bp	7.4 bp −$7	57.5 bp −$575	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	−0.142%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.267%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6065	+0.313%	$20K	$422K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6026	−0.341%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6017	−0.475%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6049	+0.046%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6043	−0.053%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6046	−0.002%	$26K	$518K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6063	+0.278%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6046	−0.002%	$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 PONSshort	+0.0184%	1h	0.6071	+0.410%	$428K	$2.5M	3x
Aevo PONS-PERP	+0.0184%	1h	0.6043	−0.050%	$376	—	3x	as long as short
KuCoin PONSUSDTM	+0.0218%	4h	0.6068	+0.356%	$1.7M	$3.6M	20x	as long as short
Nado PONS-PERP	+0.0222%	1h	0.6066	+0.329%	$71K	$131K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0242%	4h	0.6062	+0.263%	$13.9M	$55.2M	20x	as long as short
Bybit PONSUSDT	+0.0242%	4h	0.6058	+0.197%	$18.2M	$30.5M	20x	as long as short
Lighter PONS	+0.0256%	1h	0.6070	+0.392%	$1.7M	$884K	3x	as long as short
Bitget PONSUSDT	+0.0308%	4h	0.6067	+0.341%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0374%	4h	0.6065	+0.318%	$1.1M	$2.0M	20x	as long as short
BingX PONS-USDT	+0.0388%	4h	0.6066	+0.329%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0400%	1h	0.6065	+0.319%	$250K	$672K	5x	as long as short
MEXC PONS_USDT	+0.0402%	4h	0.6070	+0.395%	$7.8M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0408%	4h	0.6065	+0.309%	$39.8M	$94.8M	20x	as long as short
edgeX PONSUSDC	+0.0416%	4h	0.6024	−0.369%	$21K	$291K	10x	as long as short
Gate PONS_USDT	+0.0490%	4h	0.6053	+0.114%	$5.3M	$6.1M	20x	as long as short
Hyperliquid PONS	+0.0689%	1h	0.6072	+0.437%	$61.9M	$28.0M	3x	as long as short
Polymarket Perps PONS-USDlong	+0.0739%	1h	0.6046	long leg	$45K	$1.5M	3x
Pacifica PONS	+0.0869%	1h	0.6071	+0.418%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6031	−0.241%	$31K	$107K	3x	as long as short