Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.141%

Price spread now: Orderly against Lighter RH+0.105%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.105% dearer against Lighter RH than usual: you sell high and buy low (spread +0.105% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 29 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH PONS	0.5990	0.0112	pay 0.0014% / 1h	21m 10s	$408K	$2.6M	3x
Short	Orderly PERP_PONS_USDC_mythos	0.5996	0.0100	get 0.0050% / 4h	3h 21m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.105%Rate

Funding earned: −$2.52
Price spread: +0.105% → 0.000%: $10.52
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $2
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Lighter RH: live order book, 2 min ago; Orderly: no order-book sample. Net counts fees only.

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	4.84 bp	8.9 bp −$9	34.6 bp −$346	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.5981	−0.144%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.344%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5992	+0.032%	$21K	$417K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5991	+0.021%	$70K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6004	+0.234%	$34K	$339K	5x	as long as short
Orderly PERP_PONS_USDC_mythosshort	+0.0100%	4h	0.5996	+0.105%	$2K	$3K	10x
SunX PONS-USDT	+0.0100%	4h	0.5992	+0.028%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5991	+0.022%	$26K	$534K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6013	+0.379%	$65K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5992	+0.032%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONSlong	+0.0112%	1h	0.5990	long leg	$408K	$2.6M	3x
Aevo PONS-PERP	+0.0240%	1h	0.5988	−0.035%	$373	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0364%	4h	0.5985	−0.085%	$13.6M	$54.8M	20x	as long as short
Variational Omni PONS	+0.0441%	4h	0.6020	+0.506%	$1.5M	$3.9M	—	as long as short
Hyperliquid PONS	+0.0477%	1h	0.5989	−0.026%	$61.2M	$28.0M	3x	as long as short
Aster PONSUSDT	+0.0514%	4h	0.5985	−0.078%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0528%	1h	0.5990	0.000%	$1.6M	$893K	3x	as long as short
Bitget PONSUSDT	+0.0540%	4h	0.5992	+0.025%	$4.6M	$11.5M	20x	as long as short
Extended PONS-USD	+0.0616%	1h	0.5992	+0.038%	$107K	$809K	5x	as long as short
Binance PONSUSDT	+0.0617%	4h	0.5989	−0.018%	$39.2M	$94.1M	20x	as long as short
MEXC PONS_USDT	+0.0620%	4h	0.5990	−0.002%	$7.6M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0642%	4h	0.6002	+0.196%	$18K	$293K	10x	as long as short
Polymarket Perps PONS-USD	+0.0714%	1h	0.5993	+0.047%	$71K	$1.6M	3x	as long as short
KuCoin PONSUSDTM	+0.0762%	4h	0.5992	+0.037%	$1.6M	$3.8M	20x	as long as short
BloFin PONS-USDT	+0.0857%	4h	0.5990	−0.002%	$1.7M	$953K	20x	as long as short
BingX PONS-USDT	+0.0920%	4h	0.5989	−0.018%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0926%	4h	0.5987	−0.052%	$17.9M	$30.5M	20x	as long as short
Pacifica PONS	+0.1081%	1h	0.5986	−0.074%	$47K	$68K	3x	as long as short
Gate PONS_USDT	+0.1116%	4h	0.5988	−0.035%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1586%	1h	0.5978	−0.209%	$45K	$109K	3x	as long as short