PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0218%/8h= −23.9% APRnext payment −$0.27 per $10,000 · paid last 24h −0.032%

Price spread now: Polymarket Perps against Lighter+0.010%7-day average −0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.353%−$35 on $10k

Price spread, last 7 days+0.023%+$2 · spread now +0.010%, 7d avg −0.071%

Together, before fees−0.329%+ Points / potential airdropLighter: Season 3 · farm board−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.081% dearer against Lighter than usual: you sell high and buy low (spread +0.010% now, against its 7-day average of −0.071%): +$8 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PONS	0.5921	0.0872	pay 0.0109% / 1h	3m 27s	$1.6M	$832K	3x
Short	Polymarket Perps PONS-USD	0.5922	0.0654	get 0.0082% / 1h	3m 27s	$85K	$1.9M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$45.78
Price spread: +0.010% → −0.071%: $8.09
Slippage, 4 orders: −$16.05
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$61.74
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Polymarket Perps: live order book, 5 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, 3 min ago	4.53 bp	4.5 bp −$5	17.7 bp −$177	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	2.11 bp	8.4 bp −$8	10.8 bp −$108	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	0.5918	−0.061%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	+0.289%	$610	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5919	−0.044%	$410K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5921	−0.007%	$22K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5926	+0.076%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5917	−0.067%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5940	+0.309%	$29K	$308K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5931	+0.171%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5922	+0.010%	$26K	$581K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5937	+0.270%	$65K	$525K	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	0.5917	−0.074%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0200%	1h	0.5920	−0.026%	$369	—	3x	as long as short
Hyperliquid PONS	+0.0302%	1h	0.5922	+0.003%	$60.1M	$29.5M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0412%	4h	0.5918	−0.057%	$13.4M	$55.2M	20x	as long as short
Aster PONSUSDT	+0.0455%	4h	0.5919	−0.034%	$1.1M	$2.2M	20x	as long as short
Binance PONSUSDT	+0.0479%	4h	0.5917	−0.074%	$37.2M	$98.0M	20x	as long as short
MEXC PONS_USDT	+0.0492%	4h	0.5919	−0.041%	$7.6M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0496%	1h	0.5915	−0.114%	$101K	$807K	5x	as long as short
edgeX PONSUSDC	+0.0501%	4h	0.5946	+0.411%	$20K	$290K	10x	as long as short
Variational Omni PONS	+0.0548%	4h	0.5964	+0.727%	$1.4M	$4.1M	—	as long as short
Pacifica PONS	+0.0556%	1h	0.5918	−0.060%	$45K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0590%	4h	0.5920	−0.030%	$1.6M	$3.8M	20x	as long as short
Bybit PONSUSDT	+0.0646%	4h	0.5916	−0.091%	$17.5M	$31.2M	20x	as long as short
Polymarket Perps PONS-USDshort	+0.0654%	1h	0.5922	+0.010%	$85K	$1.9M	3x
BingX PONS-USDT	+0.0656%	4h	0.5918	−0.057%	—	$3.0M	—	as long as short
Gate PONS_USDT	+0.0674%	4h	0.5930	+0.145%	$5.3M	$6.4M	20x	as long as short
Bitget PONSUSDT	+0.0680%	4h	0.5923	+0.029%	$4.7M	$12.2M	20x	as long as short
BloFin PONS-USDT	+0.0730%	4h	0.5949	+0.466%	$1.7M	$946K	20x	as long as short
Lighter PONSlong	+0.0872%	1h	0.5921	long leg	$1.6M	$832K	3x
Phoenix PONS	+0.1472%	1h	0.5934	+0.218%	$45K	$127K	3x	as long as short