PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0583%/8h= +63.9% APRnext payment +$0.73 per $10,000 · paid last 24h −0.105%

Price spread now: Hyperliquid against Lighter+0.019%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$370.370% of the position

Long on Lighter Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.479%−$48 on $10k

Price spread, last 7 days+0.003%$0 · spread now +0.019%, 7d avg −0.005%

Together, before fees−0.476%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board−$48 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Hyperliquid is 0.025% dearer against Lighter than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.005%. Mind the row above: over the last 7 days funding on this pair cost −0.479%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PONS	0.6160	0.0504	pay 0.0063% / 1h	49m 46s	$1.7M	$921K	3x
Short	Hyperliquid PONS	0.6162	0.1087	get 0.0136% / 1h	49m 46s	$62.7M	$30.7M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Lighter. 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 LighterbpFee HyperliquidbpOrdersPrice spread, now +0.019%Rate

Funding earned: $122.52
Price spread: +0.019% → −0.005%: $2.47
Slippage, 4 orders: −$27.99
Fee Lighter: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $88
Costs to cover: 0.370%
Break-even: 2.0 days

Slippage from Lighter: live order book, 2 min ago; Hyperliquid: live order book, 4 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 Lighter live order book, 2 min ago	4.64 bp	12.2 bp −$12	19.4 bp −$194	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.08 bp	7.7 bp −$8	doesn't fit	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−3.100%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6150	−0.174%	$231K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6157	−0.057%	$20K	$461K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6157	−0.055%	$87K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6159	−0.024%	$18.6M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6158	−0.041%	$14.0M	$58.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6159	−0.021%	$1.8M	$3.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6139	−0.353%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6163	+0.037%	$33K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6163	+0.047%	$3K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.6161	+0.010%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6154	−0.101%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6164	+0.062%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6147	−0.219%	$1.7M	$3.3M	20x	as long as short
Bitget PONSUSDT	+0.0116%	4h	0.6161	+0.011%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6158	−0.041%	$384	—	3x	as long as short
Aster PONSUSDT	+0.0208%	4h	0.6148	−0.199%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0252%	4h	0.6109	−0.831%	$21K	$292K	10x	as long as short
BingX PONS-USDT	+0.0272%	4h	0.6159	−0.024%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0288%	1h	0.6161	0.000%	$254K	$682K	5x	as long as short
Binance PONSUSDT	+0.0291%	4h	0.6163	+0.047%	$40.1M	$99.3M	20x	as long as short
MEXC PONS_USDT	+0.0294%	4h	0.6160	−0.008%	$8.2M	$4.8M	20x	as long as short
Lighter PONSlong	+0.0504%	1h	0.6160	long leg	$1.7M	$921K	3x
BloFin PONS-USDT	+0.0535%	4h	0.6149	−0.187%	$1.7M	$1.0M	20x	as long as short
Lighter RH PONS	+0.0592%	1h	0.6160	−0.005%	$434K	$2.6M	3x	as long as short
Polymarket Perps PONS-USD	+0.0771%	1h	0.6159	−0.031%	$42K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6153	−0.124%	$48K	$96K	3x	as long as short
Hyperliquid PONSshort	+0.1087%	1h	0.6162	+0.019%	$62.7M	$30.7M	3x
Phoenix PONS	+0.1307%	1h	0.6117	−0.706%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.1984%	4h	0.6155	−0.089%	$5.4M	$6.2M	20x	as long as short