Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h +0.003%

Price spread now: Lighter RH against Bybit+0.542%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5as in the Price arb table

costs, in and out, $10k−$570.574% of the position

Long on Bybit Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 7 days−0.443%−$44 · spread now +0.542%, 7d avg +0.021%

Together, before fees−0.376%+ Points / potential airdropLighter RH: Points live · farm board−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.521% dearer against Bybit than usual: you sell high and buy low (spread +0.542% now, against its 7-day average of +0.021%): +$52 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 60 days. Mind the row above: over the last 7 days funding on this pair paid +0.068%, 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	Bybit PONSUSDT	0.6183	0.0685	pay 0.0342% / 4h	36m 55s	$18.7M	$32.6M	20x
Short	Lighter RH PONS	0.6217	0.0656	get 0.0082% / 1h	36m 55s	$441K	$2.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Bybit. 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 BybitbpFee Lighter RHbpOrdersPrice spread, now +0.542%Rate

Funding earned: −$6.09
Price spread: +0.542% → +0.021%: $52.05
Slippage, 4 orders: −$46.37
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$11.41
Costs to cover: 0.574%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Lighter RH: live order book, 6 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 Bybit live order book, 2 min ago	1.61 bp	21.1 bp −$21	53.7 bp −$537	doesn't fit	doesn't fit
Sell Lighter RH live order book, 6 min ago	5.57 bp	6.9 bp −$7	70.1 bp −$701	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 +0.0032% / S −0.0029%	1h	0.6208	+0.406%	$236K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6216	+0.534%	$22K	$454K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6217	+0.550%	$73K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6285	+1.651%	$31K	$303K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6218	+0.558%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6219	+0.581%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6220	+0.598%	$27K	$628K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6221	+0.610%	$67K	$536K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6207	+0.388%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6218	+0.558%	$387	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PONS-USDT-SWAP	+0.0433%	4h	0.6180	−0.049%	$14.0M	$60.1M	20x	as long as short
Variational Omni PONS	+0.0520%	4h	0.6292	+1.767%	$1.5M	$4.2M	—	as long as short
Aster PONSUSDT	+0.0525%	4h	0.6190	+0.112%	$1.1M	$2.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0560%	4h	0.6191	+0.125%	$1.6M	$3.9M	20x	as long as short
Pacifica PONS	+0.0572%	1h	0.6208	+0.403%	$47K	$69K	3x	as long as short
Extended PONS-USD	+0.0600%	1h	0.6196	+0.207%	$104K	$818K	5x	as long as short
MEXC PONS_USDT	+0.0600%	4h	0.6192	+0.146%	$7.8M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0601%	4h	0.6190	+0.109%	$40.7M	$103.4M	20x	as long as short
edgeX PONSUSDC	+0.0627%	4h	0.6228	+0.727%	$21K	$290K	10x	as long as short
Lighter RH PONSshort	+0.0656%	1h	0.6217	+0.542%	$441K	$2.6M	3x
BingX PONS-USDT	+0.0668%	4h	0.6190	+0.113%	—	$3.1M	—	as long as short
Bybit PONSUSDTlong	+0.0685%	4h	0.6183	long leg	$18.7M	$32.6M	20x
Bitget PONSUSDT	+0.0706%	4h	0.6192	+0.141%	$4.9M	$12.8M	20x	as long as short
Hyperliquid PONS	+0.0760%	1h	0.6213	+0.485%	$63.2M	$30.2M	3x	as long as short
Lighter PONS	+0.0840%	1h	0.6219	+0.582%	$1.7M	$847K	3x	as long as short
BloFin PONS-USDT	+0.0841%	4h	0.6224	+0.663%	$1.8M	$1.0M	20x	as long as short
Gate PONS_USDT	+0.0880%	4h	0.6194	+0.178%	$5.4M	$6.4M	20x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−3.954%	$610	$10K	5.5x	as long as short
Polymarket Perps PONS-USD	+0.1298%	1h	0.6215	+0.514%	$68K	$2.2M	3x	as long as short
Phoenix PONS	+0.1405%	1h	0.6231	+0.773%	$47K	$127K	3x	as long as short