Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0470%/8h= +51.5% APRpaid last 24h −0.044%

Price spread now: KuCoin against Lighter RH−0.046%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$660.656% of the position

Long on Lighter RH Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.158%−$16 on $10k

Price spread, last 7 days−0.073%−$7 · spread now −0.046%, 7d avg −0.015%

Together, before fees−0.231%+ Points / potential airdropLighter RH: Points live · farm board−$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.031% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.046% now, against its 7-day average of −0.015%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$14 a day). Mind the row above: over the last 7 days funding on this pair cost −0.158%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.158% in total (about -8.2% a year). A funding rate is set anew for every payment. 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 RH PONS	0.5914	0.0096	pay 0.0012% / 1h	56m 27s	$409K	$2.6M	3x
Short	KuCoin PONSUSDTM	0.5911	0.0566	get 0.0283% / 4h	56m 27s	$1.6M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.046%Rate

Funding earned: $98.7
Price spread: −0.046% → −0.015%: −$3.11
Slippage, 4 orders: −$53.56
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $30.02
Costs to cover: 0.656%
Break-even: 4.9 days

Slippage from Lighter RH: live order book, 2 min ago; KuCoin: live order book, 11 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	1.95 bp	7.3 bp −$7	32.1 bp −$321	doesn't fit	doesn't fit
Sell KuCoin live order book, 11 min ago	2.19 bp	27.4 bp −$27	doesn't fit	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	0.5910	−0.071%	$242K	—	150x	as long as short
Lighter RH PONSlong	+0.0096%	1h	0.5914	long leg	$409K	$2.6M	3x
Popdex PONSUSDT	+0.0096%	1h	0.5915	+0.017%	$22K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5921	+0.123%	$2K	$3K	10x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5918	+0.064%	$29K	$308K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5919	+0.091%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5914	0.000%	$25K	$581K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5930	+0.272%	$64K	$526K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5916	+0.034%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0200%	1h	0.5916	+0.034%	$369	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PONS-PERP	+0.0395%	1h	0.5915	+0.016%	$69K	$130K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0395%	4h	0.5913	−0.017%	$13.4M	$55.1M	20x	as long as short
Gate PONS_USDT	+0.0426%	4h	0.5911	−0.051%	$5.3M	$6.2M	20x	as long as short
Aster PONSUSDT	+0.0431%	4h	0.5914	−0.005%	$1.1M	$2.2M	20x	as long as short
Binance PONSUSDT	+0.0453%	4h	0.5914	+0.003%	$37.2M	$97.8M	20x	as long as short
Extended PONS-USD	+0.0456%	1h	0.5913	−0.019%	$101K	$806K	5x	as long as short
MEXC PONS_USDT	+0.0458%	4h	0.5913	−0.017%	$7.7M	$4.6M	20x	as long as short
edgeX PONSUSDC	+0.0471%	4h	0.5917	+0.052%	$20K	$289K	10x	as long as short
Variational Omni PONS	+0.0529%	4h	0.5918	+0.075%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTMshort	+0.0566%	4h	0.5911	−0.046%	$1.6M	$3.9M	20x
Pacifica PONS	+0.0572%	1h	0.5913	−0.024%	$45K	$68K	3x	as long as short
Bybit PONSUSDT	+0.0604%	4h	0.5912	−0.034%	$17.5M	$31.2M	20x	as long as short
BingX PONS-USDT	+0.0642%	4h	0.5913	−0.017%	—	$3.0M	—	as long as short
Bitget PONSUSDT	+0.0668%	4h	0.5916	+0.030%	$4.7M	$12.2M	20x	as long as short
BloFin PONS-USDT	+0.0698%	4h	0.5918	+0.068%	$1.7M	$939K	20x	as long as short
Lighter PONS	+0.0760%	1h	0.5915	+0.017%	$1.6M	$802K	3x	as long as short
Polymarket Perps PONS-USD	+0.0803%	1h	0.5915	+0.014%	$82K	$1.9M	3x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	+0.414%	$610	$10K	5.5x	as long as short
Hyperliquid PONS	+0.1236%	1h	0.5916	+0.032%	$60.1M	$29.7M	3x	as long as short
Phoenix PONS	+0.1472%	1h	0.5917	+0.044%	$45K	$127K	3x	as long as short