Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0057%/8h= +6.2% APRpaid last 24h −0.049%

Price spread now: Aster against Lighter RH−0.047%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on Lighter RH Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.289%−$29 on $10k

Price spread, last 7 days−0.115%−$12 · spread now −0.047%, 7d avg −0.046%

Together, before fees−0.404%+ Points / potential airdropLighter RH: Points live · Aster: Stage 5 · farm board−$40 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.046%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.289%, 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 RH PONS	0.6348	0.0488	pay 0.0061% / 1h	54m 46s	$448K	$2.6M	3x
Short	Aster PONSUSDT	0.6345	0.0545	get 0.0272% / 4h	1h 54m	$1.2M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter RH. 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 Lighter RHbpFee AsterbpOrdersPrice spread, now −0.047%Rate

Funding earned: $11.88
Price spread: −0.047% → −0.046%: −$0.16
Slippage, 4 orders: −$19.43
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$15.72
Costs to cover: 0.274%
Break-even: 16.3 days

Slippage from Lighter RH: live order book, 1 min ago; Aster: 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 RH live order book, 1 min ago	3.62 bp	4.3 bp −$4	31.3 bp −$313	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	2.43 bp	11.7 bp −$12	47.2 bp −$472	doesn't fit	doesn't fit

PONS on 30 exchanges

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 −0.0030%	1h	0.6363	+0.241%	$250K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−6.451%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6347	−0.016%	$23K	$405K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6349	+0.016%	$77K	$105K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6362	+0.219%	$32K	$279K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6351	+0.055%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6352	+0.069%	—	$892K	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6346	−0.030%	$27K	$636K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6359	+0.172%	$67K	$537K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6346	−0.032%	$1.7M	$3.2M	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0240%	1h	0.6347	−0.016%	$395	—	3x	as long as short
Polymarket Perps PONS-USD	+0.0367%	1h	0.6344	−0.060%	$75K	$2.1M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0392%	4h	0.6338	−0.158%	$14.4M	$60.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0474%	4h	0.6345	−0.050%	$1.8M	$4.3M	20x	as long as short
Lighter RH PONSlong	+0.0488%	1h	0.6348	long leg	$448K	$2.6M	3x
Hyperliquid PONS	+0.0540%	1h	0.6345	−0.049%	$65.2M	$31.1M	3x	as long as short
Aster PONSUSDTshort	+0.0545%	4h	0.6345	−0.047%	$1.2M	$2.2M	20x
Pacifica PONS	+0.0616%	1h	0.6349	+0.021%	$46K	$76K	3x	as long as short
Variational Omni PONS	+0.0656%	4h	0.6360	+0.187%	$1.6M	$4.3M	—	as long as short
Extended PONS-USD	+0.0672%	1h	0.6340	−0.126%	$183K	$881K	5x	as long as short
Binance PONSUSDT	+0.0673%	4h	0.6341	−0.105%	$41.6M	$101.3M	20x	as long as short
MEXC PONS_USDT	+0.0678%	4h	0.6345	−0.047%	$7.9M	$4.5M	20x	as long as short
edgeX PONSUSDC	+0.0695%	4h	0.6371	+0.369%	$19K	$292K	10x	as long as short
Bitget PONSUSDT	+0.0760%	4h	0.6345	−0.044%	$5.1M	$13.6M	20x	as long as short
Lighter PONS	+0.0784%	1h	0.6349	+0.016%	$1.8M	$852K	3x	as long as short
BingX PONS-USDT	+0.0802%	4h	0.6344	−0.063%	—	$3.1M	—	as long as short
Gate PONS_USDT	+0.0832%	4h	0.6346	−0.032%	$5.5M	$6.4M	20x	as long as short
Bybit PONSUSDT	+0.0842%	4h	0.6339	−0.142%	$19.2M	$32.6M	20x	as long as short
BloFin PONS-USDT	+0.0919%	4h	0.6355	+0.110%	$1.9M	$1.1M	20x	as long as short
Phoenix PONS	+0.1668%	1h	0.6368	+0.317%	$49K	$162K	3x	as long as short