Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h +0.140%

Price spread now: Lighter RH against OKX+0.231%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on OKX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.168%+$17 on $10k

Price spread, last 7 days−0.272%−$27 · spread now +0.231%, 7d avg +0.026%

Together, before fees−0.104%+ Points / potential airdropLighter RH: Points live · farm board−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.205% dearer against OKX than usual: you sell high and buy low (spread +0.231% now, against its 7-day average of +0.026%): +$21 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.168%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PONS-USDT-SWAP	0.6052	0.0249	pay 0.0124% / 4h	2h 18m	$13.9M	$55.1M	20x
Short	Lighter RH PONS	0.6066	0.0176	get 0.0022% / 1h	18m 16s	$426K	$2.5M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against OKX. 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 OKXbpFee Lighter RHbpOrdersPrice spread, now +0.231%Rate

Funding earned: −$15.31
Price spread: +0.231% → +0.026%: $20.55
Slippage, 4 orders: −$28.75
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$33.5
Costs to cover: 0.387%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Lighter RH: live order book, 5 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 OKX live order book, 5 min ago	0.83 bp	12.2 bp −$12	29.4 bp −$294	doesn't fit	doesn't fit
Sell Lighter RH live order book, 5 min ago	3.87 bp	7.1 bp −$7	68.4 bp −$684	doesn't fit	doesn't fit

PONS on 29 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	0.6061	+0.155%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.363%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6069	+0.281%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6066	+0.238%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6067	+0.248%	$33K	$354K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6071	+0.311%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6058	+0.091%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6067	+0.246%	$26K	$524K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6081	+0.473%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6058	+0.099%	$1.7M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONSshort	+0.0176%	1h	0.6066	+0.231%	$426K	$2.5M	3x
Aevo PONS-PERP	+0.0184%	1h	0.6069	+0.288%	$378	—	3x	as long as short
Nado PONS-PERP	+0.0207%	1h	0.6072	+0.330%	$71K	$131K	5x	as long as short
KuCoin PONSUSDTM	+0.0236%	4h	0.6061	+0.142%	$1.7M	$3.6M	20x	as long as short
Lighter PONS	+0.0240%	1h	0.6063	+0.180%	$1.7M	$885K	3x	as long as short
OKX PONS-USDT-SWAPlong	+0.0249%	4h	0.6052	long leg	$13.9M	$55.1M	20x
Bitget PONSUSDT	+0.0322%	4h	0.6052	−0.003%	$4.7M	$11.3M	20x	as long as short
Bybit PONSUSDT	+0.0327%	4h	0.6056	+0.066%	$18.2M	$30.5M	20x	as long as short
BingX PONS-USDT	+0.0398%	4h	0.6054	+0.033%	—	$3.0M	—	as long as short
Aster PONSUSDT	+0.0398%	4h	0.6066	+0.235%	$1.1M	$2.0M	20x	as long as short
MEXC PONS_USDT	+0.0420%	4h	0.6062	+0.165%	$7.8M	$4.8M	20x	as long as short
edgeX PONSUSDC	+0.0420%	4h	0.6068	+0.259%	$21K	$292K	10x	as long as short
Binance PONSUSDT	+0.0421%	4h	0.6060	+0.132%	$39.7M	$94.7M	20x	as long as short
Extended PONS-USD	+0.0424%	1h	0.6062	+0.172%	$250K	$672K	5x	as long as short
Gate PONS_USDT	+0.0632%	4h	0.6052	0.000%	$5.3M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0680%	1h	0.6055	+0.043%	$61.7M	$28.0M	3x	as long as short
Polymarket Perps PONS-USD	+0.0751%	1h	0.6070	+0.292%	$46K	$1.5M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6064	+0.198%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6073	+0.347%	$31K	$107K	3x	as long as short