Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0082%/8h= +9.0% APRpaid last 24h +0.082%

Price spread now: Lighter against Gate+0.023%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$760.757% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.278%+$28 on $10k

Price spread, last 7 days+0.062%+$6 · spread now +0.023%, 7d avg +0.055%

Together, before fees+0.340%+ Points / potential airdropLighter: Season 3 · farm board+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.033% cheaper against Gate than usual: you would sell low and buy high (spread +0.023% now, against its 7-day average of +0.055%). If the spread goes back, that is −$3 on $10k: about 32 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PONS_USDT	0.6185	0.0870	pay 0.0435% / 4h	3h 48m	$5.4M	$6.3M	20x
Short	Lighter PONS	0.6186	0.0952	get 0.0119% / 1h	48m 30s	$1.7M	$867K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.023%Rate

Funding earned: $17.22
Price spread: +0.023% → +0.055%: −$3.28
Slippage, 4 orders: −$60.69
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$61.75
Costs to cover: 0.757%
Break-even: 32.1 days

Slippage from Gate: live order book, 5 min ago; Lighter: live order book, 3 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 Gate live order book, 5 min ago	4.03 bp	27.9 bp −$28	97.7 bp −$977	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	4.51 bp	10.7 bp −$11	36.3 bp −$363	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 +0.0032% / S −0.0030%	1h	0.6180	−0.086%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−3.985%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6211	+0.420%	$23K	$437K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6205	+0.331%	$73K	$129K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6214	+0.469%	$31K	$294K	5x	as long as short
Polymarket Perps PONS-USD	+0.0100%	1h	0.6196	+0.178%	$72K	$2.3M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6191	+0.100%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6186	+0.015%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6181	−0.057%	$26K	$614K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6194	+0.146%	$66K	$528K	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	0.6181	−0.065%	$1.7M	$3.2M	20x	as long as short
Lighter RH PONS	+0.0176%	1h	0.6185	−0.008%	$421K	$2.7M	3x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6187	+0.032%	$385	—	3x	as long as short
Hyperliquid PONS	+0.0332%	1h	0.6179	−0.103%	$63.2M	$30.8M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0387%	4h	0.6213	+0.453%	$14.1M	$61.0M	20x	as long as short
Aster PONSUSDT	+0.0429%	4h	0.6189	+0.059%	$1.1M	$2.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0480%	4h	0.6183	−0.031%	$1.6M	$4.0M	20x	as long as short
Variational Omni PONS	+0.0532%	4h	0.6223	+0.614%	$1.6M	$4.3M	—	as long as short
Extended PONS-USD	+0.0616%	1h	0.6186	+0.013%	$104K	$828K	5x	as long as short
Binance PONSUSDT	+0.0617%	4h	0.6196	+0.182%	$40.6M	$104.4M	20x	as long as short
MEXC PONS_USDT	+0.0618%	4h	0.6189	+0.065%	$7.9M	$4.6M	20x	as long as short
edgeX PONSUSDC	+0.0621%	4h	0.6216	+0.495%	$20K	$291K	10x	as long as short
Bitget PONSUSDT	+0.0694%	4h	0.6215	+0.487%	$4.9M	$13.2M	20x	as long as short
Pacifica PONS	+0.0853%	1h	0.6185	−0.003%	$47K	$77K	3x	as long as short
BloFin PONS-USDT	+0.0859%	4h	0.6201	+0.259%	$1.8M	$1.1M	20x	as long as short
Gate PONS_USDTlong	+0.0870%	4h	0.6185	long leg	$5.4M	$6.3M	20x
Lighter PONSshort	+0.0952%	1h	0.6186	+0.023%	$1.7M	$867K	3x
Bybit PONSUSDT	+0.1135%	4h	0.6216	+0.501%	$18.7M	$33.2M	20x	as long as short
BingX PONS-USDT	+0.1230%	4h	0.6195	+0.162%	—	$3.3M	—	as long as short
Phoenix PONS	+0.1714%	1h	0.6194	+0.139%	$47K	$159K	3x	as long as short