Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.135%

Price spread now: Popdex against Lighter RH+0.019%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$221as in the Price arb table

costs, in and out, $10k−$2252.246% of the position

Long on Lighter RH Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.439%−$44 on $10k

Price spread, last 4 days (all we have)+0.017%+$2 · spread now +0.019%, 7d avg −0.017%

Together, before fees−0.423%+ Points / potential airdropLighter RH: Points live · farm board−$42 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.035% dearer against Lighter RH than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH PONS	0.5938	0.0096	pay 0.0012% / 1h	49m 36s	$415K	$2.5M	3x
Short	Popdex PONSUSDT	0.5939	0.0096	get 0.0012% / 1h	49m 36s	$21K	$417K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.017%: $3.52
Slippage, 4 orders: −$218.2
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$221.08
Costs to cover: 2.246%
Break-even: 454274025200276416.0 days

Slippage from Lighter RH: live order book, 3 min ago; Popdex: live order book, 64 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, 3 min ago	5.39 bp	10.0 bp −$10	37.0 bp −$370	doesn't fit	doesn't fit
Sell Popdex live order book, 64 min ago	6.36 bp	121.8 bp −$122	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 +0.0033% / S −0.0032%	1h	0.5928	−0.175%	$236K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.532%	$614	$10K	5.5x	as long as short
Lighter RH PONSlong	+0.0096%	1h	0.5938	long leg	$415K	$2.5M	3x
Popdex PONSUSDTshort	+0.0096%	1h	0.5939	+0.019%	$21K	$417K	20x
Nado PONS-PERP	+0.0100%	1h	0.5939	+0.019%	$69K	$130K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5935	−0.049%	$5.2M	$6.2M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5933	−0.079%	$34K	$335K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5945	+0.121%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5938	−0.005%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5934	−0.074%	$26K	$545K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDT	+0.0100%	4h	0.5958	+0.340%	$64K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5938	+0.002%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.5948	+0.166%	$371	—	3x	as long as short
Hyperliquid PONS	+0.0308%	1h	0.5938	+0.005%	$60.2M	$29.0M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0382%	4h	0.5935	−0.049%	$13.5M	$54.8M	20x	as long as short
Aster PONSUSDT	+0.0504%	4h	0.5938	+0.005%	$1.1M	$2.2M	20x	as long as short
Variational Omni PONS	+0.0529%	4h	0.5941	+0.052%	$1.4M	$4.1M	—	as long as short
Bitget PONSUSDT	+0.0552%	4h	0.5939	+0.019%	$4.7M	$11.8M	20x	as long as short
Extended PONS-USD	+0.0616%	1h	0.5939	+0.016%	$106K	$807K	5x	as long as short
MEXC PONS_USDT	+0.0618%	4h	0.5941	+0.052%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0620%	4h	0.5938	+0.007%	$38.8M	$94.7M	20x	as long as short
edgeX PONSUSDC	+0.0630%	4h	0.5937	−0.010%	$20K	$295K	10x	as long as short
Lighter PONS	+0.0680%	1h	0.5939	+0.020%	$1.6M	$886K	3x	as long as short
Pacifica PONS	+0.0715%	1h	0.5940	+0.038%	$46K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0738%	4h	0.5940	+0.042%	$1.6M	$3.8M	20x	as long as short
BingX PONS-USDT	+0.0762%	4h	0.5940	+0.035%	—	$3.0M	—	as long as short
Polymarket Perps PONS-USD	+0.0832%	1h	0.5937	−0.010%	$88K	$1.7M	3x	as long as short
Bybit PONSUSDT	+0.0837%	4h	0.5934	−0.066%	$17.8M	$31.0M	20x	as long as short
BloFin PONS-USDT	+0.0861%	4h	0.5941	+0.052%	$1.7M	$945K	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5940	+0.042%	$45K	$121K	3x	as long as short