PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.217%

Price spread now: Lighter against SoDEX+0.213%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1501.498% of the position

Long on SoDEX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.757%+$76 on $10k

Price spread, last 4 days (all we have)−0.740%−$74 · spread now +0.213%, 7d avg +0.058%

Together, before fees+0.017%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.155% dearer against SoDEX than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PONS-USD	0.5961	0.0100	pay 0.0013% / 1h	36m 31s	$26K	$520K	3x
Short	Lighter PONS	0.5974	0.0200	get 0.0025% / 1h	36m 31s	$1.6M	$875K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SoDEX. 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 SoDEXbpFee LighterbpOrdersPrice spread, now +0.213%Rate

Funding earned: $21
Price spread: +0.213% → +0.058%: $15.48
Slippage, 4 orders: −$141.77
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$113.29
Costs to cover: 1.498%
Break-even: 44.8 days

Slippage from SoDEX: live order book, 27 min ago; Lighter: live order book, 10 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 SoDEX live order book, 27 min ago	2.14 bp	66.4 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 10 min ago	7.48 bp	8.4 bp −$8	20.1 bp −$201	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	0.5958	−0.049%	$236K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.138%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5961	−0.005%	$20K	$424K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5993	+0.527%	$33K	$352K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5975	+0.230%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5963	+0.034%	—	$1.3M	10x	as long as short
SoDEX PONS-USDlong	+0.0100%	1h	0.5961	long leg	$26K	$520K	3x
HTX PONS-USDT	+0.0100%	4h	0.5980	+0.319%	$64K	$508K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5960	−0.022%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0106%	4h	0.5978	+0.286%	$1.4M	$3.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0192%	1h	0.5972	+0.178%	$419K	$2.5M	3x	as long as short
Lighter PONSshort	+0.0200%	1h	0.5974	+0.213%	$1.6M	$875K	3x
Aevo PONS-PERP	+0.0200%	1h	0.5949	−0.205%	$371	—	3x	as long as short
Nado PONS-PERP	+0.0202%	1h	0.5963	+0.029%	$70K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0282%	4h	0.5967	+0.096%	$13.6M	$54.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0368%	4h	0.5965	+0.057%	$1.7M	$3.7M	20x	as long as short
Gate PONS_USDT	+0.0370%	4h	0.5963	+0.029%	$5.2M	$6.2M	20x	as long as short
Bitget PONSUSDT	+0.0394%	4h	0.5958	−0.054%	$4.6M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0402%	4h	0.5964	+0.048%	$1.1M	$2.1M	20x	as long as short
BingX PONS-USDT	+0.0470%	4h	0.5968	+0.112%	—	$3.0M	—	as long as short
Binance PONSUSDT	+0.0471%	4h	0.5967	+0.096%	$39.1M	$93.9M	20x	as long as short
Extended PONS-USD	+0.0472%	1h	0.5974	+0.207%	$246K	$670K	5x	as long as short
MEXC PONS_USDT	+0.0472%	4h	0.5965	+0.062%	$7.6M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0493%	4h	0.5986	+0.411%	$18K	$292K	10x	as long as short
Bybit PONSUSDT	+0.0514%	4h	0.5964	+0.045%	$17.9M	$30.3M	20x	as long as short
Hyperliquid PONS	+0.0704%	1h	0.5959	−0.030%	$60.7M	$27.8M	3x	as long as short
BloFin PONS-USDT	+0.0713%	4h	0.5964	+0.045%	$1.7M	$949K	20x	as long as short
Pacifica PONS	+0.0755%	1h	0.5974	+0.217%	$47K	$72K	3x	as long as short
Polymarket Perps PONS-USD	+0.0808%	1h	0.5975	+0.221%	$49K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.5963	+0.030%	$31K	$98K	3x	as long as short