PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0888%/8h= −97.2% APRnext payment −$1.11 per $10,000 · paid last 24h −0.079%

Price spread now: Lighter RH against Lighter−0.076%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on Lighter Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.424%−$42 on $10k

Price spread, last 7 days−0.095%−$10 · spread now −0.076%, 7d avg −0.019%

Together, before fees−0.519%+ Points / potential airdropLighter: Season 3 · Lighter RH: Points live · farm board−$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Lighter RH is 0.057% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.019%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.424% in total (about -22.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.11 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	Lighter PONS	0.5939	0.1240	pay 0.0155% / 1h	32m 05s	$1.7M	$860K	3x
Short	Lighter RH PONS	0.5934	0.0352	get 0.0044% / 1h	32m 05s	$398K	$2.5M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$186.48
Price spread: −0.076% → −0.019%: −$5.68
Slippage, 4 orders: −$28.6
Fee Lighter: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$220.75
Costs to cover: 0.286%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Lighter RH: live order book, 2 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, 5 min ago	3.53 bp	6.1 bp −$6	15.2 bp −$152	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	5.06 bp	9.1 bp −$9	29.9 bp −$299	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
Gate PONS_USDT	−0.0068%	4h	0.5937	−0.032%	$5.2M	$7.0M	20x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0032%	1h	0.5925	−0.230%	$212K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5863	−1.280%	$603	$3K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5935	−0.066%	$21K	$477K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5937	−0.039%	$73K	$95K	5x	as long as short
Hyperliquid PONS	+0.0100%	1h	0.5928	−0.175%	$58.9M	$29.5M	3x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5928	−0.184%	$17.8M	$31.4M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5926	−0.217%	$13.4M	$56.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5935	−0.064%	$1.9M	$3.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5948	+0.155%	$1.3M	$4.2M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni PONSUSDT	+0.0100%	1h	0.5950	+0.185%	$34K	$318K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5938	−0.012%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5933	−0.094%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5933	−0.108%	$27K	$528K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5941	+0.044%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5932	−0.116%	$1.7M	$3.3M	20x	as long as short
Bitget PONSUSDT	+0.0102%	4h	0.5930	−0.148%	$4.7M	$11.6M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5935	−0.066%	$370	—	3x	as long as short
BingX PONS-USDT	+0.0180%	4h	0.5924	−0.251%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0190%	4h	0.5948	+0.146%	$21K	$293K	10x	as long as short
Binance PONSUSDT	+0.0198%	4h	0.5931	−0.133%	$38.6M	$98.7M	20x	as long as short
Extended PONS-USD	+0.0200%	1h	0.5934	−0.083%	$92K	$529K	5x	as long as short
MEXC PONS_USDT	+0.0202%	4h	0.5930	−0.150%	$7.4M	$5.2M	20x	as long as short
Aster PONSUSDT	+0.0249%	4h	0.5927	−0.207%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0279%	1h	0.5940	+0.027%	$47K	$111K	3x	as long as short
Lighter RH PONSshort	+0.0352%	1h	0.5934	−0.076%	$398K	$2.5M	3x
BloFin PONS-USDT	+0.0443%	4h	0.5932	−0.116%	$1.7M	$987K	20x	as long as short
Polymarket Perps PONS-USD	+0.0477%	1h	0.5933	−0.096%	$49K	$1.8M	3x	as long as short
Phoenix PONS	+0.1232%	1h	0.5944	+0.091%	$27K	$80K	3x	as long as short
Lighter PONSlong	+0.1240%	1h	0.5939	long leg	$1.7M	$860K	3x