Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.124%

Price spread now: HTX against Lighter RH+0.181%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$367as in the Funding arb table

Net, price: spread back to 7d avg − costs−$307as in the Price arb table

costs, in and out, $10k−$3233.232% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.441%−$44 on $10k

Price spread, last 4 days (all we have)−0.146%−$15 · spread now +0.181%, 7d avg +0.021%

Together, before fees−0.587%+ Points / potential airdropLighter RH: Points live · farm board−$59 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.161% dearer against Lighter RH than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH PONS	0.5896	0.0096	pay 0.0012% / 1h	52m 18s	$406K	$2.6M	3x
Short	HTX PONS-USDT	0.5907	0.0100	get 0.0050% / 4h	1h 52m	$64K	$525K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.181%Rate

Funding earned: $0.84
Price spread: +0.181% → +0.021%: $16.06
Slippage, 4 orders: −$311.16
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$306.26
Costs to cover: 3.232%
Break-even: 2559.2 days

Slippage from Lighter RH: live order book, 1 min ago; HTX: live order book, 56 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	3.90 bp	6.3 bp −$6	32.7 bp −$327	doesn't fit	doesn't fit
Sell HTX live order book, 56 min ago	39.41 bp	174.0 bp −$174	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
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0032%	1h	0.5891	−0.086%	$234K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.241%	$614	$10K	5.5x	as long as short
Lighter RH PONSlong	+0.0096%	1h	0.5896	long leg	$406K	$2.6M	3x
Popdex PONSUSDT	+0.0096%	1h	0.5892	−0.073%	$21K	$421K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5902	+0.103%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5893	−0.056%	$69K	$131K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5896	−0.010%	$29K	$329K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5896	−0.003%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5897	+0.020%	$25K	$587K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.5907	+0.181%	$64K	$525K	20x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.5895	−0.022%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.5897	+0.020%	$367	—	3x	as long as short
Gate PONS_USDT	+0.0234%	4h	0.5890	−0.107%	$5.2M	$6.3M	20x	as long as short
Hyperliquid PONS	+0.0358%	1h	0.5896	−0.014%	$59.9M	$29.5M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0419%	4h	0.5896	−0.005%	$13.3M	$55.6M	20x	as long as short
Polymarket Perps PONS-USD	+0.0420%	1h	0.5894	−0.046%	$91K	$1.9M	3x	as long as short
Aster PONSUSDT	+0.0464%	4h	0.5897	+0.006%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5893	−0.062%	$45K	$69K	3x	as long as short
Extended PONS-USD	+0.0560%	1h	0.5896	−0.005%	$101K	$811K	5x	as long as short
Binance PONSUSDT	+0.0562%	4h	0.5896	+0.001%	$37.1M	$98.6M	20x	as long as short
MEXC PONS_USDT	+0.0570%	4h	0.5895	−0.022%	$7.5M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0592%	4h	0.5904	+0.129%	$20K	$294K	10x	as long as short
Bitget PONSUSDT	+0.0656%	4h	0.5900	+0.059%	$4.7M	$12.2M	20x	as long as short
Variational Omni PONS	+0.0661%	4h	0.5894	−0.040%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0674%	4h	0.5893	−0.056%	$1.6M	$3.8M	20x	as long as short
BloFin PONS-USDT	+0.0811%	4h	0.5900	+0.063%	$1.7M	$956K	20x	as long as short
Lighter PONS	+0.0816%	1h	0.5900	+0.058%	$1.6M	$828K	3x	as long as short
BingX PONS-USDT	+0.0882%	4h	0.5893	−0.056%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0896%	4h	0.5895	−0.022%	$17.5M	$31.5M	20x	as long as short
Phoenix PONS	+0.1472%	1h	0.5894	−0.039%	$45K	$127K	3x	as long as short