Settings8H · net · $10k
Funding arb · Price arb /

PONS

all PONS markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.191%
Price spread now: Variational Omni against Lighter+0.127%7-day average −0.060% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.623%−$62 on $10k
Price spread, last 7 days−0.149%−$15 · spread now +0.127%, 7d avg −0.060%
Together, before fees−0.773%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$77 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.187% dearer against Lighter than usual: you sell high and buy low (spread +0.127% now, against its 7-day average of −0.060%): +$19 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.2 days. At the pace of the last 3 days (−0.623% in total) that is about 24 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter PONS0.60580.0200pay 0.0025% / 1h55m 46s$1.7M$894K3x
ShortVariational Omni PONS0.60660.0100get 0.0050% / 4h3h 55m$1.4M$4.2M

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni 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

Funding earned
−$21
Price spread: +0.127% → −0.060%
$18.71
Slippage, 4 orders
no order book: not counted
Fee Lighter: 0 bp × 2 orders
$0
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$2.29
Costs to cover
0.000%
Break-even
from the start
Slippage unknown: Lighter: live order book, 11 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 11 min ago3.70 bp4.4 bp −$49.7 bp −$97doesn't fitdoesn't fit
Sell Variational Omni RFQ quote, 3 min ago4.12 bpdoesn't fit37.0 bp −$370doesn't fitdoesn't fit

PONS on 30 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate PONS_USDT−0.0852%4h0.60580.000%$5.3M$6.1M20xas long as short
gTrade (Gains Network) PONS/USDL +0.0033% / S −0.0033%1h0.6056−0.033%$240K150xas long as short
Injective PONS/USDC PERP+0.0033%1h0.5969−1.461%$614$10K5.5xas long as short
Lighter RH PONS+0.0096%1h0.6058+0.007%$423K$2.5M3xas long as short
Popdex PONSUSDT+0.0096%1h0.6064+0.099%$20K$417K20xas long as short
OKX PONS-USDT-SWAP+0.0100%4h0.6045−0.215%$13.8M$57.2M20xas long as short
Variational Omni PONSshort+0.0100%4h0.6066+0.127%$1.4M$4.2M
ApeX Omni PONSUSDT+0.0100%1h0.6082+0.396%$33K$357K5xas long as short
Orderly PERP_PONS_USDC_mythos+0.0100%4h0.6067+0.142%$2K$3K10xas long as short
SunX PONS-USDT+0.0100%4h0.6069+0.187%$1.4M10xas long as short
Show all 30 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX PONS-USD+0.0100%1h0.6061+0.045%$28K$548K3xas long as short
HTX PONS-USDT+0.0100%4h0.6079+0.347%$65K$510K20xas long as short
Phemex PONSUSDT+0.0100%4h0.6068+0.165%$1.7M$3.3M20xas long as short
KuCoin PONSUSDTM+0.0150%4h0.6044−0.231%$1.7M$3.8M20xas long as short
Aevo PONS-PERP+0.0152%1h0.6063+0.078%$3783xas long as short
Aster PONSUSDT+0.0160%4h0.6054−0.068%$1.1M$2.2M20xas long as short
Bitget PONSUSDT+0.0186%4h0.6050−0.135%$4.7M$11.7M20xas long as short
Lighter PONSlong+0.0200%1h0.6058long leg$1.7M$894K3x
Binance PONSUSDT+0.0302%4h0.6052−0.099%$39.6M$97.8M20xas long as short
MEXC PONS_USDT+0.0302%4h0.6052−0.099%$7.9M$4.8M20xas long as short
Extended PONS-USD+0.0304%1h0.6061+0.047%$252K$679K5xas long as short
edgeX PONSUSDC+0.0307%4h0.6072+0.234%$21K$292K10xas long as short
Nado PONS-PERP+0.0333%1h0.6064+0.102%$105K$116K5xas long as short
BloFin PONS-USDT+0.0540%4h0.6067+0.149%$1.8M$1.0M20xas long as short
Pacifica PONS+0.0665%1h0.6054−0.070%$48K$96K3xas long as short
Polymarket Perps PONS-USD+0.0830%1h0.6063+0.087%$41K$1.6M3xas long as short
BingX PONS-USDT+0.0916%4h0.6059+0.017%$3.1Mas long as short
Bybit PONSUSDT+0.0917%4h0.6046−0.198%$18.2M$31.3M20xas long as short
Hyperliquid PONS+0.1150%1h0.6058+0.003%$61.7M$30.0M3xas long as short
Phoenix PONS+0.1307%1h0.6073+0.253%$31K$113K3xas long as short