Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0517%/8h= +56.6% APRpaid last 24h −0.029%

Price spread now: BloFin against Lighter RH+0.197%61s7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$520.521% of the position

Long on Lighter RH Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.516%+$52 on $10k

Price spread, last 3 days (all we have)−0.002%$0 · spread now +0.197%, 7d avg +0.023%

Together, before fees+0.514%+ Points / potential airdropLighter RH: Points live · farm board+$51 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and BloFin is 0.174% dearer against Lighter RH than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.023%. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH PONS	0.6047	0.0120	pay 0.0015% / 1h	2m 07s	$425K	$2.6M	3x
Short	BloFin PONS-USDT	0.6059	0.0637	get 0.0318% / 4h	3h 02m	$1.7M	$984K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.197%Rate

Funding earned: $108.55
Price spread: +0.197% → +0.023%: $17.38
Slippage, 4 orders: −$40.12
Fee Lighter RH: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: $73.81
Costs to cover: 0.521%
Break-even: 2.2 days

Slippage from Lighter RH: live order book, 1 min ago; BloFin: 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 Lighter RH live order book, 1 min ago	6.44 bp	9.8 bp −$10	42.5 bp −$425	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	2.44 bp	19.1 bp −$19	41.9 bp −$419	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 +0.0033% / S −0.0033%	1h	0.6042	−0.091%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.283%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6053	+0.098%	$20K	$414K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6105	+0.964%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6065	+0.293%	$33K	$356K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6055	+0.136%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6050	+0.050%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6047	−0.010%	$26K	$533K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6062	+0.248%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6053	+0.098%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONSlong	+0.0120%	1h	0.6047	long leg	$425K	$2.6M	3x
Aevo PONS-PERP	+0.0176%	1h	0.6046	−0.014%	$377	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0231%	4h	0.6045	−0.035%	$13.9M	$55.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0234%	4h	0.6045	−0.031%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0290%	4h	0.6052	+0.078%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0326%	4h	0.6049	+0.036%	$1.1M	$2.0M	20x	as long as short
MEXC PONS_USDT	+0.0396%	4h	0.6049	+0.031%	$7.9M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0397%	4h	0.6048	+0.019%	$39.8M	$96.1M	20x	as long as short
Extended PONS-USD	+0.0400%	1h	0.6046	−0.010%	$250K	$677K	5x	as long as short
Lighter PONS	+0.0408%	1h	0.6049	+0.030%	$1.7M	$946K	3x	as long as short
edgeX PONSUSDC	+0.0409%	4h	0.6139	+1.515%	$21K	$292K	10x	as long as short
Bybit PONSUSDT	+0.0562%	4h	0.6045	−0.035%	$18.2M	$30.8M	20x	as long as short
BingX PONS-USDT	+0.0594%	4h	0.6050	+0.048%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0595%	1h	0.6054	+0.120%	$105K	$115K	5x	as long as short
BloFin PONS-USDTshort	+0.0637%	4h	0.6059	+0.197%	$1.7M	$984K	20x
Pacifica PONS	+0.0665%	1h	0.6053	+0.090%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0795%	1h	0.6052	+0.078%	$46K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0845%	1h	0.6049	+0.033%	$61.5M	$28.9M	3x	as long as short
Gate PONS_USDT	+0.1350%	4h	0.6049	+0.031%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6089	+0.696%	$32K	$113K	3x	as long as short