Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0332%/8h= −36.4% APRpaid last 24h −0.115%

Price spread now: HTX against Lighter RH−0.008%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$391as in the Funding arb table

Net, price: spread back to 7d avg − costs−$349as in the Price arb table

costs, in and out, $10k−$3463.463% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.445%−$45 on $10k

Price spread, last 4 days (all we have)+0.474%+$47 · spread now −0.008%, 7d avg +0.023%

Together, before fees+0.028%+ Points / potential airdropLighter RH: Points live · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and HTX is 0.031% cheaper against Lighter RH than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH PONS	0.6305	0.0432	pay 0.0054% / 1h	21m 10s	$430K	$2.7M	3x
Short	HTX PONS-USDT	0.6304	0.0100	get 0.0050% / 4h	3h 21m	$67K	$528K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$69.72
Price spread: −0.008% → +0.023%: −$3.1
Slippage, 4 orders: −$334.32
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$419.14
Costs to cover: 3.463%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; HTX: live order book, 12 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, 2 min ago	4.69 bp	10.0 bp −$10	37.3 bp −$373	doesn't fit	doesn't fit
Sell HTX live order book, 12 min ago	32.92 bp	190.0 bp −$190	1632.8 bp −$16.3K	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	0.6300	−0.082%	$245K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−5.811%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6299	−0.094%	$23K	$438K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6297	−0.125%	$73K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6274	−0.496%	$31K	$289K	5x	as long as short
Polymarket Perps PONS-USD	+0.0100%	1h	0.6285	−0.316%	$74K	$2.2M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6315	+0.154%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6298	−0.111%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6300	−0.078%	$27K	$623K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.6304	−0.008%	$67K	$528K	20x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6303	−0.030%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6308	+0.041%	$393	—	3x	as long as short
Hyperliquid PONS	+0.0316%	1h	0.6301	−0.068%	$64.6M	$30.5M	3x	as long as short
Lighter RH PONSlong	+0.0432%	1h	0.6305	long leg	$430K	$2.7M	3x
OKX PONS-USDT-SWAP	+0.0447%	4h	0.6308	+0.049%	$14.4M	$61.2M	20x	as long as short
Aster PONSUSDT	+0.0461%	4h	0.6297	−0.133%	$1.1M	$2.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0492%	4h	0.6307	+0.032%	$1.7M	$4.1M	20x	as long as short
Variational Omni PONS	+0.0562%	4h	0.6214	−1.437%	$1.6M	$4.5M	—	as long as short
Lighter PONS	+0.0568%	1h	0.6307	+0.030%	$1.8M	$871K	3x	as long as short
edgeX PONSUSDC	+0.0669%	4h	0.6283	−0.344%	$21K	$292K	10x	as long as short
MEXC PONS_USDT	+0.0676%	4h	0.6308	+0.049%	$8.1M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0688%	1h	0.6304	−0.007%	$106K	$819K	5x	as long as short
Binance PONSUSDT	+0.0691%	4h	0.6299	−0.090%	$41.5M	$104.2M	20x	as long as short
Bitget PONSUSDT	+0.0732%	4h	0.6309	+0.070%	$5.1M	$13.2M	20x	as long as short
Pacifica PONS	+0.0853%	1h	0.6286	−0.298%	$47K	$78K	3x	as long as short
BloFin PONS-USDT	+0.0931%	4h	0.6309	+0.065%	$1.9M	$1.1M	20x	as long as short
BingX PONS-USDT	+0.0976%	4h	0.6304	−0.014%	—	$3.2M	—	as long as short
Bybit PONSUSDT	+0.1105%	4h	0.6303	−0.030%	$19.2M	$33.3M	20x	as long as short
Phoenix PONS	+0.1714%	1h	0.6308	+0.054%	$48K	$159K	3x	as long as short
Gate PONS_USDT	+0.1748%	4h	0.6288	−0.268%	$5.4M	$6.4M	20x	as long as short