Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0210%/8h= −23.0% APRpaid last 24h +0.047%

Price spread now: Lighter RH against BingX+0.086%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$420.419% of the position

Long on BingX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.205%−$21 on $10k

Price spread, last 3 days (all we have)−0.062%−$6 · spread now +0.086%, 7d avg +0.007%

Together, before fees−0.267%+ Points / potential airdropLighter RH: Points live · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.080% dearer against BingX than usual: you sell high and buy low (spread +0.086% now, against its 7-day average of +0.007%): +$8 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 30 hours. At the pace of the last 7 days (−0.205% in total) that is about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PONS-USDT	0.6130	0.0306	pay 0.0153% / 4h	21m 24s	—	$3.1M	—
Short	Lighter RH PONS	0.6135	0.0096	get 0.0012% / 1h	21m 24s	$428K	$2.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against BingX. 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 BingXbpFee Lighter RHbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$44.1
Price spread: +0.086% → +0.007%: $7.98
Slippage, 4 orders: −$31.85
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$77.97
Costs to cover: 0.419%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Lighter RH: 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 BingX live order book, 13 min ago	2.44 bp	13.0 bp −$13	19.5 bp −$195	262.5 bp −$26.2K	doesn't fit
Sell Lighter RH live order book, 2 min ago	4.09 bp	9.4 bp −$9	53.2 bp −$532	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.618%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6121	−0.148%	$242K	—	150x	as long as short
Lighter RH PONSshort	+0.0096%	1h	0.6135	+0.086%	$428K	$2.6M	3x
Popdex PONSUSDT	+0.0096%	1h	0.6131	+0.016%	$20K	$433K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6134	+0.065%	$88K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6128	−0.033%	$18.4M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6128	−0.033%	$14.0M	$58.2M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6129	−0.022%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6131	+0.024%	$34K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6136	+0.091%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.6133	+0.054%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6127	−0.047%	$28K	$545K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6144	+0.223%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6128	−0.033%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0130%	4h	0.6131	+0.024%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0158%	4h	0.6130	+0.005%	$4.8M	$11.7M	20x	as long as short
Aster PONSUSDT	+0.0158%	4h	0.6125	−0.083%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0160%	1h	0.6132	+0.033%	$382	—	3x	as long as short
MEXC PONS_USDT	+0.0300%	4h	0.6131	+0.016%	$8.0M	$4.9M	20x	as long as short
BingX PONS-USDTlong	+0.0306%	4h	0.6130	long leg	—	$3.1M	—
edgeX PONSUSDC	+0.0309%	4h	0.6115	−0.247%	$21K	$293K	10x	as long as short
Binance PONSUSDT	+0.0319%	4h	0.6130	0.000%	$40.2M	$98.6M	20x	as long as short
Extended PONS-USD	+0.0320%	1h	0.6130	−0.002%	$253K	$682K	5x	as long as short
Lighter PONS	+0.0336%	1h	0.6137	+0.109%	$1.7M	$923K	3x	as long as short
BloFin PONS-USDT	+0.0559%	4h	0.6135	+0.082%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0656%	1h	0.6132	+0.034%	$42K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0867%	1h	0.6132	+0.034%	$62.5M	$30.0M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6129	−0.023%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6121	−0.153%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2448%	4h	0.6126	−0.065%	$5.4M	$6.3M	20x	as long as short