PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0856%/8h= −93.7% APRnext payment −$1.07 per $10,000 · paid last 24h −0.053%

Price spread now: Lighter RH against Lighter−0.012%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$250.253% of the position

Long on Lighter Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.485%−$48 on $10k

Price spread, last 7 days+0.121%+$12 · spread now −0.012%, 7d avg −0.017%

Together, before fees−0.363%+ Points / potential airdropLighter: Season 3 · Lighter RH: Points live · farm board−$36 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: −$26 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.485% in total (about -25.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.07 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PONS	0.5895	0.0952	pay 0.0119% / 1h	54m 25s	$1.6M	$822K	3x
Short	Lighter RH PONS	0.5894	0.0096	get 0.0012% / 1h	54m 25s	$406K	$2.5M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Lighter. 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 LighterbpFee Lighter RHbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$179.76
Price spread: −0.012% → −0.017%: $0.52
Slippage, 4 orders: −$25.34
Fee Lighter: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$204.58
Costs to cover: 0.253%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; Lighter RH: live order book, 4 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 Lighter live order book, 2 min ago	4.14 bp	6.1 bp −$6	38.2 bp −$382	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 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	0.5886	−0.152%	$234K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.269%	$614	$10K	5.5x	as long as short
Lighter RH PONSshort	+0.0096%	1h	0.5894	−0.012%	$406K	$2.5M	3x
Popdex PONSUSDT	+0.0096%	1h	0.5891	−0.063%	$21K	$421K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5898	+0.064%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5894	−0.012%	$69K	$131K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5896	+0.017%	$29K	$329K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5894	−0.012%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5904	+0.158%	$25K	$589K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5921	+0.443%	$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	+0.209%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.5892	−0.046%	$367	—	3x	as long as short
Gate PONS_USDT	+0.0258%	4h	0.5888	−0.114%	$5.2M	$6.3M	20x	as long as short
Hyperliquid PONS	+0.0321%	1h	0.5894	−0.012%	$59.9M	$29.5M	3x	as long as short
Polymarket Perps PONS-USD	+0.0419%	1h	0.5892	−0.051%	$91K	$1.9M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0421%	4h	0.5890	−0.080%	$13.3M	$55.5M	20x	as long as short
Aster PONSUSDT	+0.0472%	4h	0.5895	+0.002%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5891	−0.059%	$45K	$69K	3x	as long as short
Extended PONS-USD	+0.0568%	1h	0.5891	−0.067%	$101K	$811K	5x	as long as short
MEXC PONS_USDT	+0.0570%	4h	0.5892	−0.046%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0571%	4h	0.5890	−0.082%	$37.0M	$98.6M	20x	as long as short
edgeX PONSUSDC	+0.0599%	4h	0.5920	+0.425%	$20K	$293K	10x	as long as short
Bitget PONSUSDT	+0.0652%	4h	0.5893	−0.032%	$4.6M	$12.2M	20x	as long as short
Variational Omni PONS	+0.0661%	4h	0.5894	−0.012%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0678%	4h	0.5894	−0.014%	$1.6M	$3.8M	20x	as long as short
BloFin PONS-USDT	+0.0811%	4h	0.5908	+0.226%	$1.7M	$957K	20x	as long as short
BingX PONS-USDT	+0.0882%	4h	0.5890	−0.080%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0893%	4h	0.5890	−0.080%	$17.5M	$31.5M	20x	as long as short
Lighter PONSlong	+0.0952%	1h	0.5895	long leg	$1.6M	$822K	3x
Phoenix PONS	+0.1719%	1h	0.5906	+0.192%	$45K	$127K	3x	as long as short