Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h +0.195%

Price spread now: Lighter against KuCoin+0.123%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$840.843% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.661%+$66 on $10k

Price spread, last 7 days−0.029%−$3 · spread now +0.123%, 7d avg +0.035%

Together, before fees+0.631%+ Points / potential airdropLighter: Season 3 · farm board+$63 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.088% dearer against KuCoin than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PONSUSDTM	0.6031	0.0154	pay 0.0077% / 4h	3h 49m	$1.7M	$3.8M	20x
Short	Lighter PONS	0.6039	0.0256	get 0.0032% / 1h	49m 04s	$1.7M	$894K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.123%Rate

Funding earned: $21.42
Price spread: +0.123% → +0.035%: $8.77
Slippage, 4 orders: −$72.28
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$54.09
Costs to cover: 0.843%
Break-even: 24.7 days

Slippage from KuCoin: live order book, 8 min ago; Lighter: 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 KuCoin live order book, 8 min ago	3.05 bp	46.5 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	3.80 bp	11.2 bp −$11	29.9 bp −$299	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 −0.0033%	1h	0.6030	−0.021%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.026%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6037	+0.095%	$422K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6059	+0.458%	$20K	$417K	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6031	−0.007%	$13.7M	$57.1M	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.6036	+0.076%	$5.3M	$6.1M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6040	+0.135%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6054	+0.373%	$33K	$357K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6036	+0.070%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6053	+0.353%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USD	+0.0100%	1h	0.6040	+0.136%	$27K	$553K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6047	+0.257%	$64K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6045	+0.225%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTMlong	+0.0154%	4h	0.6031	long leg	$1.7M	$3.8M	20x
Aevo PONS-PERP	+0.0160%	1h	0.6045	+0.217%	$377	—	3x	as long as short
Aster PONSUSDT	+0.0171%	4h	0.6036	+0.078%	$1.1M	$2.2M	20x	as long as short
Bitget PONSUSDT	+0.0194%	4h	0.6036	+0.076%	$4.7M	$11.6M	20x	as long as short
Lighter PONSshort	+0.0256%	1h	0.6039	+0.123%	$1.7M	$894K	3x
MEXC PONS_USDT	+0.0300%	4h	0.6039	+0.126%	$7.9M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0304%	1h	0.6038	+0.105%	$250K	$683K	5x	as long as short
Binance PONSUSDT	+0.0308%	4h	0.6034	+0.043%	$39.5M	$97.8M	20x	as long as short
edgeX PONSUSDC	+0.0309%	4h	0.6043	+0.187%	$21K	$293K	10x	as long as short
BingX PONS-USDT	+0.0396%	4h	0.6037	+0.093%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0449%	1h	0.6056	+0.413%	$105K	$116K	5x	as long as short
BloFin PONS-USDT	+0.0548%	4h	0.6060	+0.474%	$1.8M	$1.0M	20x	as long as short
Bybit PONSUSDT	+0.0592%	4h	0.6033	+0.027%	$18.1M	$31.2M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6055	+0.394%	$48K	$87K	3x	as long as short
Polymarket Perps PONS-USD	+0.0738%	1h	0.6057	+0.431%	$42K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0886%	1h	0.6035	+0.058%	$61.4M	$29.7M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6044	+0.201%	$31K	$113K	3x	as long as short