Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0640%/8h= +70.1% APRpaid last 24h −0.053%

Price spread now: KuCoin against Lighter RH+0.145%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$800.803% of the position

Long on Lighter RH Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.158%−$16 on $10k

Price spread, last 7 days−0.304%−$30 · spread now +0.145%, 7d avg −0.016%

Together, before fees−0.463%+ Points / potential airdropLighter RH: Points live · farm board−$46 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and KuCoin is 0.161% dearer against Lighter RH than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.016%. Mind the row above: over the last 7 days funding on this pair cost −0.158%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.158% in total (about -8.3% a year). A funding rate is set anew for every payment. 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 RH PONS	0.5931	0.0096	pay 0.0012% / 1h	45m 17s	$416K	$2.5M	3x
Short	KuCoin PONSUSDTM	0.5940	0.0736	get 0.0368% / 4h	2h 45m	$1.6M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.145%Rate

Funding earned: $134.4
Price spread: +0.145% → −0.016%: $16.13
Slippage, 4 orders: −$68.34
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $70.18
Costs to cover: 0.803%
Break-even: 3.3 days

Slippage from Lighter RH: live order book, 3 min ago; KuCoin: live order book, 7 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, 3 min ago	5.89 bp	12.6 bp −$13	36.5 bp −$365	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	2.78 bp	24.3 bp −$24	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	0.5924	−0.120%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.647%	$614	$10K	5.5x	as long as short
Lighter RH PONSlong	+0.0096%	1h	0.5931	long leg	$416K	$2.5M	3x
Popdex PONSUSDT	+0.0096%	1h	0.5941	+0.167%	$21K	$417K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5937	+0.096%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5929	−0.035%	$34K	$335K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5938	+0.111%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5937	+0.103%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5930	−0.010%	$26K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5935	+0.061%	$64K	$513K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.5932	+0.015%	$1.6M	$3.2M	20x	as long as short
Gate PONS_USDT	+0.0142%	4h	0.5935	+0.066%	$5.2M	$6.2M	20x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.5934	+0.040%	$370	—	3x	as long as short
Hyperliquid PONS	+0.0286%	1h	0.5935	+0.062%	$60.1M	$29.0M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0375%	4h	0.5933	+0.032%	$13.4M	$54.8M	20x	as long as short
Aster PONSUSDT	+0.0493%	4h	0.5934	+0.044%	$1.1M	$2.2M	20x	as long as short
Variational Omni PONS	+0.0538%	4h	0.5931	+0.006%	$1.4M	$4.1M	—	as long as short
Bitget PONSUSDT	+0.0556%	4h	0.5932	+0.015%	$4.7M	$11.8M	20x	as long as short
Extended PONS-USD	+0.0616%	1h	0.5930	−0.011%	$106K	$807K	5x	as long as short
Binance PONSUSDT	+0.0618%	4h	0.5935	+0.066%	$38.8M	$94.7M	20x	as long as short
MEXC PONS_USDT	+0.0620%	4h	0.5939	+0.133%	$7.6M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0627%	4h	0.5939	+0.127%	$20K	$296K	10x	as long as short
Pacifica PONS	+0.0715%	1h	0.5939	+0.141%	$46K	$68K	3x	as long as short
KuCoin PONSUSDTMshort	+0.0736%	4h	0.5940	+0.145%	$1.6M	$3.8M	20x
BingX PONS-USDT	+0.0796%	4h	0.5933	+0.032%	—	$3.0M	—	as long as short
Polymarket Perps PONS-USD	+0.0814%	1h	0.5937	+0.101%	$88K	$1.7M	3x	as long as short
Lighter PONS	+0.0824%	1h	0.5934	+0.049%	$1.6M	$886K	3x	as long as short
Bybit PONSUSDT	+0.0846%	4h	0.5932	+0.015%	$17.8M	$31.0M	20x	as long as short
BloFin PONS-USDT	+0.0858%	4h	0.5938	+0.116%	$1.7M	$946K	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5937	+0.105%	$45K	$121K	3x	as long as short