Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0348%/8h= +38.1% APRpaid last 24h +0.149%

Price spread now: Lighter RH against SunX+0.022%7-day average −0.017% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.443%+$44 on $10k

Price spread, last 4 days (all we have)−0.457%−$46 · spread now +0.022%, 7d avg −0.017%

Together, before fees−0.014%+ Points / potential airdropLighter RH: Points live · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Lighter RH is 0.039% dearer against SunX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PONS-USDT	0.6001	0.0100	pay 0.0050% / 4h	3h 59m	—	$1.3M	10x
Short	Lighter RH PONS	0.6002	0.0448	get 0.0056% / 1h	59m 27s	$412K	$2.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against SunX. 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 SunXbpFee Lighter RHbpOrdersPrice spread, now +0.022%Rate

Funding earned: $73.08
Price spread: +0.022% → −0.017%: $3.86
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $68.94
Costs to cover: 0.080%
Break-even: 0.4 days

Slippage unknown: SunX: live order book, 4 min ago; Lighter RH: live order book, 4 min ago. Net counts fees only.

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 SunX live order book, 4 min ago	105.13 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	3.58 bp	8.5 bp −$8	48.5 bp −$485	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 −0.0032%	1h	0.5995	−0.087%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.518%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6002	+0.023%	$21K	$435K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6002	+0.031%	$70K	$129K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6005	+0.073%	$17.9M	$30.9M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6025	+0.413%	$35K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6010	+0.163%	$2K	$3K	10x	as long as short
SunX PONS-USDTlong	+0.0100%	4h	0.6001	long leg	—	$1.3M	10x
SoDEX PONS-USD	+0.0100%	1h	0.6005	+0.078%	$26K	$538K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6016	+0.248%	$65K	$512K	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	0.6009	+0.140%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6007	+0.098%	$374	—	3x	as long as short
Variational Omni PONS	+0.0303%	4h	0.6008	+0.122%	$1.4M	$3.9M	—	as long as short
OKX PONS-USDT-SWAP	+0.0320%	4h	0.6002	+0.023%	$13.6M	$55.3M	20x	as long as short
Lighter PONS	+0.0376%	1h	0.6002	+0.022%	$1.6M	$890K	3x	as long as short
Aster PONSUSDT	+0.0448%	4h	0.6000	−0.005%	$1.1M	$2.1M	20x	as long as short
Lighter RH PONSshort	+0.0448%	1h	0.6002	+0.022%	$412K	$2.6M	3x
Gate PONS_USDT	+0.0482%	4h	0.5999	−0.027%	$5.2M	$6.1M	20x	as long as short
Bitget PONSUSDT	+0.0490%	4h	0.6007	+0.098%	$4.6M	$11.5M	20x	as long as short
Hyperliquid PONS	+0.0543%	1h	0.6005	+0.078%	$61.4M	$28.4M	3x	as long as short
BingX PONS-USDT	+0.0572%	4h	0.6004	+0.057%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0600%	1h	0.6001	+0.003%	$108K	$813K	5x	as long as short
MEXC PONS_USDT	+0.0600%	4h	0.6003	+0.040%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0602%	4h	0.6004	+0.061%	$39.3M	$95.3M	20x	as long as short
edgeX PONSUSDC	+0.0623%	4h	0.6007	+0.102%	$18K	$294K	10x	as long as short
KuCoin PONSUSDTM	+0.0694%	4h	0.6000	−0.015%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0723%	1h	0.6004	+0.050%	$71K	$1.6M	3x	as long as short
BloFin PONS-USDT	+0.0842%	4h	0.6015	+0.240%	$1.8M	$958K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.6001	+0.011%	$47K	$67K	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6006	+0.095%	$36K	$104K	3x	as long as short