Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0176%/8h= −19.3% APRpaid last 24h 0.000%

Price spread now: Lighter RH against Gate+0.014%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$610.610% of the position

Long on Gate Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.142%−$14 on $10k

Price spread, last 7 days+0.130%+$13 · spread now +0.014%, 7d avg +0.037%

Together, before fees−0.011%+ Points / potential airdropLighter RH: Points live · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Lighter RH is 0.024% cheaper against Gate than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PONS_USDT	0.5903	0.0272	pay 0.0136% / 4h	1h 55m	$5.2M	$6.3M	20x
Short	Lighter RH PONS	0.5904	0.0096	get 0.0012% / 1h	55m 20s	$407K	$2.5M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$36.96
Price spread: +0.014% → +0.037%: −$2.38
Slippage, 4 orders: −$45.99
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$100.33
Costs to cover: 0.610%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Lighter RH: 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, 3 min ago	1.69 bp	26.6 bp −$27	169.9 bp −$1,699	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	4.06 bp	8.1 bp −$8	49.6 bp −$496	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	0.5899	−0.076%	$234K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.127%	$614	$10K	5.5x	as long as short
Lighter RH PONSshort	+0.0096%	1h	0.5904	+0.014%	$407K	$2.5M	3x
Popdex PONSUSDT	+0.0096%	1h	0.5906	+0.051%	$21K	$421K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5911	+0.130%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5909	+0.106%	$69K	$131K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5896	−0.124%	$29K	$329K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5915	+0.207%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5904	+0.017%	$25K	$589K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5921	+0.302%	$65K	$524K	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	0.5907	+0.068%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.5905	+0.025%	$368	—	3x	as long as short
Gate PONS_USDTlong	+0.0272%	4h	0.5903	long leg	$5.2M	$6.3M	20x
Hyperliquid PONS	+0.0333%	1h	0.5907	+0.071%	$60.0M	$29.6M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0425%	4h	0.5904	+0.017%	$13.4M	$55.6M	20x	as long as short
Polymarket Perps PONS-USD	+0.0439%	1h	0.5906	+0.046%	$91K	$1.9M	3x	as long as short
Aster PONSUSDT	+0.0469%	4h	0.5907	+0.061%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5912	+0.154%	$45K	$69K	3x	as long as short
Extended PONS-USD	+0.0568%	1h	0.5902	−0.009%	$101K	$811K	5x	as long as short
Binance PONSUSDT	+0.0571%	4h	0.5907	+0.068%	$37.1M	$98.6M	20x	as long as short
MEXC PONS_USDT	+0.0578%	4h	0.5907	+0.068%	$7.5M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0599%	4h	0.5920	+0.284%	$20K	$293K	10x	as long as short
Bitget PONSUSDT	+0.0654%	4h	0.5907	+0.059%	$4.7M	$12.2M	20x	as long as short
Variational Omni PONS	+0.0661%	4h	0.5894	−0.153%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0684%	4h	0.5906	+0.054%	$1.6M	$3.8M	20x	as long as short
BloFin PONS-USDT	+0.0811%	4h	0.5908	+0.085%	$1.7M	$957K	20x	as long as short
BingX PONS-USDT	+0.0882%	4h	0.5902	−0.017%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0915%	4h	0.5901	−0.034%	$17.6M	$31.5M	20x	as long as short
Lighter PONS	+0.0952%	1h	0.5908	+0.080%	$1.6M	$822K	3x	as long as short
Phoenix PONS	+0.1719%	1h	0.5906	+0.051%	$45K	$127K	3x	as long as short