PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0211%/8h= +23.1% APRnext payment +$0.26 per $10,000 · paid last 24h +0.032%

Price spread now: Lighter against Polymarket Perps−0.046%7-day average +0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs+$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$230.234% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.353%+$35 on $10k

Price spread, last 7 days+0.012%+$1 · spread now −0.046%, 7d avg +0.071%

Together, before fees+0.365%+ Points / potential airdropLighter: Season 3 · farm board+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.116% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.046% now, against its 7-day average of +0.071%). If the spread goes back, that is −$12 on $10k: about 44 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PONS-USD	0.5924	0.0653	pay 0.0082% / 1h	2m 25s	$85K	$1.9M	3x
Short	Lighter PONS	0.5921	0.0864	get 0.0108% / 1h	2m 25s	$1.6M	$832K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now −0.046%Rate

Funding earned: $44.23
Price spread: −0.046% → +0.071%: −$11.64
Slippage, 4 orders: −$15.38
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $9.22
Costs to cover: 0.234%
Break-even: 5.5 days

Slippage from Polymarket Perps: live order book, 1 min ago; Lighter: 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 Polymarket Perps live order book, 1 min ago	2.37 bp	6.4 bp −$6	8.8 bp −$88	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	4.53 bp	5.0 bp −$5	10.6 bp −$106	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	0.5918	−0.104%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	+0.250%	$610	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5918	−0.103%	$409K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5919	−0.079%	$22K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5926	+0.037%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5920	−0.068%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5940	+0.270%	$29K	$308K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5923	−0.010%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5919	−0.083%	$26K	$581K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5917	−0.115%	$64K	$525K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.5913	−0.181%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0200%	1h	0.5920	−0.065%	$369	—	3x	as long as short
Hyperliquid PONS	+0.0312%	1h	0.5924	+0.005%	$60.2M	$29.5M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0413%	4h	0.5921	−0.046%	$13.4M	$55.2M	20x	as long as short
Aster PONSUSDT	+0.0446%	4h	0.5917	−0.108%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0478%	4h	0.5919	−0.079%	$7.6M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0479%	4h	0.5918	−0.093%	$37.3M	$97.9M	20x	as long as short
Extended PONS-USD	+0.0480%	1h	0.5915	−0.152%	$101K	$806K	5x	as long as short
edgeX PONSUSDC	+0.0501%	4h	0.5946	+0.372%	$20K	$290K	10x	as long as short
Variational Omni PONS	+0.0548%	4h	0.5964	+0.688%	$1.4M	$4.1M	—	as long as short
Pacifica PONS	+0.0556%	1h	0.5918	−0.094%	$45K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0590%	4h	0.5922	−0.034%	$1.6M	$3.8M	20x	as long as short
Gate PONS_USDT	+0.0642%	4h	0.5924	+0.005%	$5.3M	$6.4M	20x	as long as short
BingX PONS-USDT	+0.0650%	4h	0.5918	−0.096%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0650%	4h	0.5920	−0.062%	$17.5M	$31.2M	20x	as long as short
Polymarket Perps PONS-USDlong	+0.0653%	1h	0.5924	long leg	$85K	$1.9M	3x
Bitget PONSUSDT	+0.0676%	4h	0.5926	+0.037%	$4.7M	$12.2M	20x	as long as short
BloFin PONS-USDT	+0.0719%	4h	0.5919	−0.079%	$1.7M	$939K	20x	as long as short
Lighter PONSshort	+0.0864%	1h	0.5921	−0.046%	$1.6M	$832K	3x
Phoenix PONS	+0.1472%	1h	0.5934	+0.179%	$45K	$127K	3x	as long as short