Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0248%/8h= +27.2% APRpaid last 24h −0.127%

Price spread now: Aster against Lighter RH−0.101%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on Lighter RH Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.318%−$32 on $10k

Price spread, last 7 days+0.060%+$6 · spread now −0.101%, 7d avg −0.050%

Together, before fees−0.258%+ Points / potential airdropLighter RH: Points live · Aster: Stage 5 · farm board−$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.051% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.101% now, against its 7-day average of −0.050%). If the spread goes back, that is −$5 on $10k: about 16 hours of funding at the current rate (+$7 a day). Mind the row above: over the last 7 days funding on this pair cost −0.318%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH PONS	0.6045	0.0184	pay 0.0023% / 1h	59m 29s	$425K	$2.5M	3x
Short	Aster PONSUSDT	0.6039	0.0432	get 0.0216% / 4h	1h 59m	$1.1M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter RH. 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 Lighter RHbpFee AsterbpOrdersPrice spread, now −0.101%Rate

Funding earned: $52.17
Price spread: −0.101% → −0.050%: −$5.07
Slippage, 4 orders: −$27.8
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: $11.3
Costs to cover: 0.358%
Break-even: 5.5 days

Slippage from Lighter RH: live order book, 4 min ago; Aster: 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 RH live order book, 4 min ago	5.03 bp	7.3 bp −$7	25.6 bp −$256	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	3.63 bp	9.4 bp −$9	30.8 bp −$308	doesn't fit	doesn't fit

PONS on 29 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	0.6026	−0.321%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.249%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6038	−0.116%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6048	+0.049%	$1.4M	$3.9M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6068	+0.385%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6044	−0.018%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6055	+0.164%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6035	−0.159%	$26K	$520K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6044	−0.023%	$64K	$508K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6034	−0.182%	$1.6M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps PONS-USD	+0.0106%	1h	0.6037	−0.127%	$48K	$1.5M	3x	as long as short
Lighter RH PONSlong	+0.0184%	1h	0.6045	long leg	$425K	$2.5M	3x
Aevo PONS-PERP	+0.0192%	1h	0.6037	−0.136%	$376	—	3x	as long as short
Lighter PONS	+0.0264%	1h	0.6045	+0.005%	$1.7M	$871K	3x	as long as short
Hyperliquid PONS	+0.0264%	1h	0.6039	−0.103%	$61.5M	$27.8M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0267%	4h	0.6035	−0.165%	$13.9M	$54.4M	20x	as long as short
KuCoin PONSUSDTM	+0.0316%	4h	0.6037	−0.131%	$1.7M	$3.6M	20x	as long as short
Bitget PONSUSDT	+0.0370%	4h	0.6040	−0.089%	$4.7M	$11.2M	20x	as long as short
Aster PONSUSDTshort	+0.0432%	4h	0.6039	−0.101%	$1.1M	$2.0M	20x
BingX PONS-USDT	+0.0438%	4h	0.6040	−0.083%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0452%	4h	0.6040	−0.083%	$7.7M	$4.6M	20x	as long as short
Binance PONSUSDT	+0.0455%	4h	0.6039	−0.099%	$39.5M	$93.6M	20x	as long as short
Extended PONS-USD	+0.0456%	1h	0.6040	−0.090%	$250K	$670K	5x	as long as short
edgeX PONSUSDC	+0.0459%	4h	0.6058	+0.207%	$21K	$293K	10x	as long as short
Bybit PONSUSDT	+0.0523%	4h	0.6035	−0.165%	$18.0M	$30.3M	20x	as long as short
Gate PONS_USDT	+0.0862%	4h	0.6038	−0.116%	$5.3M	$6.1M	20x	as long as short
Pacifica PONS	+0.0869%	1h	0.6042	−0.044%	$48K	$72K	3x	as long as short
Nado PONS-PERP	+0.1018%	1h	0.6038	−0.116%	$71K	$131K	5x	as long as short
Phoenix PONS	+0.1695%	1h	0.6060	+0.256%	$31K	$98K	3x	as long as short