PONS funding rates

PONS perpetual funding across 14 venues. Rates are annualized (APR); positive means longs pay shorts.

Data as of 2026-10-12 03:16 UTC · refreshed every 5 min

Best pair · 7d: 25.5%long Lighter RH, short Aster · net 23.4%
Highest funding now: 11.4%Extended
Lowest funding now: −42.9%Lighter RH
Listed on: 14 venues

Funding by venue

													Open
Extended	PONS-USD	11.4%	12.9%	16.7%	34.3%	17.4%	100%	1h	04:00	0.3465	$96k	$66k	ExExtended
Hyperliquid	PONS	10.9%	11.2%	13.1%	26.7%	13.4%	100%	1h	—	0.347	$33.8M	$7.4M	HyHyperliquid
Aster	PONSUSDT	10.9%	20.1%	17.0%	23.3%	16.5%	100%	4h	04:00	0.3467	$749k	$522k	AsAster
Polymarket	PONS-USD	10.9%	10.9%	13.9%	28.9%	14.3%	100%	1h	04:00	0.3466	$52k	$172k	PmPolymarket
RWA Perp	PERP_PONS_USDC_mythos	10.9%	12.0%	11.7%	11.2%	11.6%	100%	4h	04:00	0.3468	$605	$0	RwRWA Perp
BinanceCEX	PONSUSDT	10.9%	12.4%	15.5%	28.7%	16.0%	100%	4h	04:00	0.3463	$32.7M	$29.7M	BnBinance
BybitCEX	PONSUSDT	10.9%	11.5%	17.0%	27.9%	17.9%	100%	4h	04:00	0.3461	$14.3M	$11.6M	ByBybit
BitgetCEX	PONSUSDT	10.9%	11.6%	15.6%	26.3%	16.2%	100%	4h	04:00	0.3463	$3.4M	$3.5M	BgBitget
GateCEX	PONS_USDT	10.9%	4.0%	17.0%	28.7%	19.1%	81%	4h	04:00	0.3461	$31.7M	$1.7M	GtGate
MEXCCEX	PONS_USDT	10.9%	12.9%	15.6%	31.2%	16.0%	100%	4h	04:00	0.3469	$6.6M	$3.0M	MxMEXC
Variational	PONS	10.9%	10.9%	14.4%	20.0%	15.0%	100%	4h	—	0.3449	$1.0M	$2.0M	VaVariational
Nado	PONS-PERP_USDT0	10.9%	10.9%	11.0%	14.2%	11.0%	100%	1h	04:00	0.3471	$48k	$6k	NaNado
Lighter	PONS	10.5%	10.5%	5.3%	44.1%	4.4%	83%	1h	04:00	0.344	$1.0M	$264k	LiLighter
Lighter RH	PONS	−42.9%	−4.4%	−8.5%	20.9%	−9.2%	53%	1h	04:00	0.3455	$542k	$301k	LrLighter RH

Sparklines: hourly funding APR over the last 7 days, zero line dashed.

Long/short pairs

Funding spreads, annualized: short-leg rate minus long-leg rate.
											Flags	Open	Calc
		Spread APR				After taker fees			Quality
Lighter RH	Extended	54.3%	17.3%	25.2%	12.8%	23.9%	35.9%	0.7d	steady	$96k		Lr Ex	calc
Lighter RH	Aster	53.9%	24.5%	25.5%	5.3%	23.4%	35.1%	1.1d	steady	$542k	1h/4h	Lr As	calc
Lighter RH	MEXCCEX	53.9%	17.3%	24.1%	11.6%	23.0%	34.5%	0.6d	steady	$542k	1h/4h	Lr Mx	calc
Lighter RH	Variational	53.9%	15.3%	22.9%	1.1%	22.9%	34.4%	<0.1d	steady	$542k	1h/4hspread not incl.	Lr Va	calc
Lighter RH	BybitCEX	53.9%	15.9%	25.5%	9.8%	22.6%	33.9%	1.6d	steady	$542k	1h/4h	Lr By	calc
Lighter RH	GateCEX	53.9%	8.4%	25.4%	11.9%	21.5%	32.3%	2.2d	steady	$542k	1h/4h	Lr Gt	calc
Lighter RH	BinanceCEX	53.9%	16.8%	24.0%	19.4%	21.4%	32.1%	1.5d	steady	$542k	1h/4h	Lr Bn	calc
Lighter RH	BitgetCEX	53.9%	16.0%	24.1%	8.7%	20.9%	31.4%	1.8d	steady	$542k	1h/4h	Lr Bg	calc
Lighter RH	Polymarket	53.9%	15.3%	22.4%	10.4%	20.3%	30.4%	1.3d	steady	$52k	invite only	Lr Pm	calc
Lighter RH	Hyperliquid	53.9%	15.6%	21.6%	7.0%	19.2%	28.9%	1.5d	steady	$542k		Lr Hy	calc
Lighter RH	Lighter	53.4%	14.9%	13.8%	22.6%	13.8%	20.7%	<0.1d	steady	$542k		Lr Li	calc
Lighter	Extended	0.9%	2.4%	11.4%	−9.9%	10.1%	15.2%	1.6d	steady	$96k		Li Ex	calc
Lighter	Aster	0.4%	9.6%	11.7%	−20.8%	9.6%	14.4%	2.5d	steady	$749k	1h/4h	Li As	calc
Lighter	MEXCCEX	0.4%	2.4%	10.2%	−13.0%	9.2%	13.8%	1.4d	steady	$1.0M	1h/4h	Li Mx	calc
Lighter	Variational	0.4%	0.4%	9.1%	−24.1%	9.1%	13.7%	<0.1d	steady	$1.0M	1h/4hspread not incl.	Li Va	calc
Lighter RH	Nado	53.9%	15.3%	19.5%	−4.4%	17.6%	26.5%	1.3d	steady	$48k	low OI	Lr Na	calc
Lighter	BybitCEX	0.4%	1.0%	11.6%	−16.2%	8.8%	13.2%	3.4d	steady	$1.0M	1h/4h	Li By	calc
Lighter	GateCEX	0.4%	−6.5%	11.6%	−15.4%	7.7%	11.6%	4.7d	cooling	$1.0M	1h/4h	Li Gt	calc
Lighter	BinanceCEX	0.4%	1.9%	10.2%	−2.0%	7.6%	11.4%	3.6d	steady	$1.0M	1h/4h	Li Bn	calc
Lighter	BitgetCEX	0.4%	1.1%	10.3%	−17.9%	7.1%	10.7%	4.3d	steady	$1.0M	1h/4h	Li Bg	calc
Lighter	Polymarket	0.4%	0.4%	8.6%	−15.2%	6.5%	9.7%	3.4d	steady	$52k	invite only	Li Pm	calc
Lighter	Hyperliquid	0.4%	0.7%	7.8%	−17.5%	5.4%	8.2%	4.2d	steady	$1.0M		Li Hy	calc
Lighter	Nado	0.4%	0.4%	5.7%	−29.9%	3.8%	5.8%	4.5d	steady	$48k	low OI	Li Na	calc
Nado	Extended	0.4%	2.0%	5.8%	20.1%	2.6%	4.0%	7.6d	steady	$48k	low OI	Na Ex	calc
Nado	Aster	0.0%	9.1%	6.0%	9.1%	2.1%	3.2%	9.1d	cooling	$48k	low OI1h/4h	Na As	calc
Variational	Extended	0.4%	2.0%	2.3%	14.2%	1.0%	1.5%	7.9d	weak	$96k	4h/1hspread not incl.	Va Ex	calc
Nado	MEXCCEX	0.0%	1.9%	4.6%	17.0%	1.7%	2.6%	8.8d	cooling	$48k	low OI1h/4h	Na Mx	calc
Nado	Variational	0.0%	0.0%	3.5%	5.8%	1.6%	2.5%	7.4d	weak	$48k	low OI1h/4hspread not incl.	Na Va	calc
Nado	BybitCEX	0.0%	0.6%	6.0%	13.7%	1.3%	1.9%	11d	cooling	$48k	low OI1h/4h	Na By	calc
Variational	Aster	0.0%	9.1%	2.6%	3.3%	0.5%	0.7%	11d	weak	$749k	spread not incl.	Va As	calc
Nado	GateCEX	0.0%	−6.9%	6.0%	14.5%	0.2%	0.4%	13d	cooling	$48k	low OI1h/4h	Na Gt	calc
Variational	MEXCCEX	0.0%	1.9%	1.1%	11.1%	0.1%	0.1%	13d	weak	$1.0M	spread not incl.	Va Mx	calc
Nado	BinanceCEX	0.0%	1.5%	4.5%	17.2%	0.1%	0.1%	14d	cooling	$48k	low OI1h/4h	Na Bn	calc
Hyperliquid	Extended	0.4%	1.7%	3.7%	7.6%	0.0%	0.0%	14d	weak	$96k		Hy Ex	calc
Variational	BybitCEX	0.0%	0.6%	2.5%	7.9%	−0.3%	−0.5%	16d	weak	$1.0M	spread not incl.	Va By	calc
Polymarket	Extended	0.4%	2.0%	2.9%	5.4%	−0.5%	−0.8%	16d	weak	$52k	invite only	Pm Ex	calc
Hyperliquid	Aster	0.0%	8.9%	3.9%	−3.3%	−0.5%	−0.8%	16d	weak	$749k	1h/4h	Hy As	calc
Nado	BitgetCEX	0.0%	0.6%	4.6%	12.0%	−0.4%	−0.5%	15d	cooling	$48k	low OI1h/4h	Na Bg	calc
Hyperliquid	MEXCCEX	0.0%	1.7%	2.5%	4.5%	−0.9%	−1.4%	19d	weak	$6.6M	1h/4h	Hy Mx	calc
Hyperliquid	Variational	0.0%	−0.2%	1.3%	−6.6%	−1.0%	−1.5%	24d	weak	$1.0M	1h/4hspread not incl.	Hy Va	calc
Polymarket	Aster	0.0%	9.1%	3.2%	−5.6%	−1.0%	−1.5%	19d	weak	$52k	1h/4hinvite only	Pm As	calc
MEXCCEX	Extended	0.4%	0.1%	1.2%	3.1%	−1.2%	−1.7%	28d	weak	$96k	4h/1h	Mx Ex	calc
Hyperliquid	BybitCEX	0.0%	0.4%	3.9%	1.3%	−1.3%	−2.0%	19d	weak	$14.3M	1h/4h	Hy By	calc
Variational	GateCEX	0.0%	−6.9%	2.5%	8.7%	−1.4%	−2.1%	22d	weak	$1.0M	spread not incl.	Va Gt	calc
Polymarket	MEXCCEX	0.0%	1.9%	1.7%	2.3%	−1.4%	−2.1%	26d	weak	$52k	1h/4hinvite only	Pm Mx	calc
Polymarket	Variational	0.0%	0.0%	0.6%	−8.9%	−1.5%	−2.3%	51d	weak	$52k	1h/4hinvite onlyspread not incl.	Pm Va	calc
Variational	BinanceCEX	0.0%	1.5%	1.1%	11.2%	−1.6%	−2.3%	35d	weak	$1.0M	spread not incl.	Va Bn	calc
MEXCCEX	Aster	0.0%	7.2%	1.5%	−7.9%	−1.7%	−2.5%	30d	weak	$749k		Mx As	calc
Polymarket	BybitCEX	0.0%	0.6%	3.1%	−1.0%	−1.9%	−2.8%	22d	weak	$52k	1h/4hinvite only	Pm By	calc
Variational	BitgetCEX	0.0%	0.6%	1.1%	6.2%	−2.0%	−3.0%	38d	weak	$1.0M	spread not incl.	Va Bg	calc
Nado	Polymarket	0.0%	0.0%	2.9%	14.7%	−1.0%	−1.5%	19d	weak	$48k	low OIinvite only	Na Pm	calc
Hyperliquid	GateCEX	0.0%	−7.2%	3.9%	2.0%	−2.4%	−3.6%	23d	cooling	$31.7M	1h/4h	Hy Gt	calc
MEXCCEX	BybitCEX	0.0%	−1.3%	1.4%	−3.2%	−2.5%	−3.8%	39d	weak	$6.6M		Mx By	calc
Hyperliquid	BinanceCEX	0.0%	1.3%	2.4%	5.4%	−2.6%	−3.8%	29d	weak	$32.7M	1h/4h	Hy Bn	calc
BinanceCEX	Extended	0.4%	0.5%	1.3%	3.4%	−2.7%	−4.0%	44d	weak	$96k	4h/1h	Bn Ex	calc
Polymarket	GateCEX	0.0%	−6.9%	3.1%	−0.2%	−2.9%	−4.4%	27d	weak	$52k	1h/4hinvite only	Pm Gt	calc
Hyperliquid	BitgetCEX	0.0%	0.4%	2.5%	−0.4%	−3.0%	−4.5%	31d	weak	$3.4M	1h/4h	Hy Bg	calc
Polymarket	BinanceCEX	0.0%	1.5%	1.6%	6.3%	−3.1%	−4.6%	40d	weak	$52k	1h/4hinvite only	Pm Bn	calc
BinanceCEX	Aster	0.0%	7.6%	1.5%	−5.0%	−3.2%	−4.8%	43d	weak	$749k		Bn As	calc
BitgetCEX	Extended	0.4%	1.4%	1.2%	8.0%	−3.3%	−4.9%	53d	weak	$96k	4h/1h	Bg Ex	calc
Polymarket	BitgetCEX	0.0%	0.6%	1.7%	−2.7%	−3.5%	−5.2%	43d	weak	$52k	1h/4hinvite only	Pm Bg	calc
BinanceCEX	MEXCCEX	0.0%	0.4%	0.1%	0.0%	−3.6%	−5.4%	776d	weak	$6.6M		Bn Mx	calc
Aster	Extended	0.4%	−7.1%	−0.3%	11.0%	−3.7%	−5.5%	—	weak	$96k	4h/1h	As Ex	calc
Hyperliquid	Polymarket	0.0%	−0.2%	0.8%	2.2%	−3.7%	−5.5%	81d	weak	$52k	invite only	Hy Pm	calc
BitgetCEX	Aster	0.0%	8.5%	1.4%	−2.9%	−3.8%	−5.7%	51d	weak	$749k		Bg As	calc
BinanceCEX	BybitCEX	0.0%	−0.9%	1.5%	−4.9%	−4.0%	−6.0%	52d	weak	$14.3M		Bn By	calc
Nado	Hyperliquid	0.0%	0.2%	2.1%	12.5%	−2.1%	−3.1%	28d	weak	$48k	low OI	Na Hy	calc
MEXCCEX	BitgetCEX	0.0%	−1.3%	0.0%	−4.9%	−4.2%	−6.2%	>999d	weak	$3.4M		Mx Bg	calc
BybitCEX	Extended	0.4%	1.4%	−0.2%	6.3%	−4.4%	−6.6%	—	weak	$96k	4h/1h	By Ex	calc
BitgetCEX	BybitCEX	0.0%	0.0%	1.4%	1.7%	−4.6%	−6.9%	61d	weak	$3.4M		Bg By	calc
BybitCEX	Aster	0.0%	8.5%	0.1%	−4.6%	−4.9%	−7.3%	>999d	weak	$749k		By As	calc
GateCEX	Extended	0.4%	8.9%	−0.2%	5.6%	−5.4%	−8.1%	—	weak	$96k	4h/1h	Gt Ex	calc
BinanceCEX	BitgetCEX	0.0%	−0.9%	0.1%	−6.7%	−5.6%	−8.5%	933d	weak	$3.4M		Bn Bg	calc
Extended	Aster	−0.4%	7.1%	0.3%	−11.0%	−3.1%	−4.7%	179d	mixed	$96k	1h/4h	Ex As	calc
GateCEX	BybitCEX	0.0%	7.5%	0.0%	−0.8%	−6.8%	−10.2%	>999d	weak	$14.3M		Gt By	calc
MEXCCEX	GateCEX	0.0%	−8.8%	1.4%	−2.5%	−3.6%	−5.3%	50d	mixed	$6.6M		Mx Gt	calc
Extended	BybitCEX	−0.4%	−1.4%	0.2%	−6.3%	−4.0%	−5.9%	277d	mixed	$96k	1h/4h	Ex By	calc
Extended	GateCEX	−0.4%	−8.9%	0.2%	−5.6%	−5.0%	−7.5%	351d	mixed	$96k	1h/4h	Ex Gt	calc
BinanceCEX	GateCEX	0.0%	−8.4%	1.5%	−5.3%	−5.1%	−7.6%	62d	mixed	$31.7M		Bn Gt	calc
BitgetCEX	GateCEX	0.0%	−7.6%	1.4%	2.5%	−5.7%	−8.5%	72d	mixed	$3.4M		Bg Gt	calc
GateCEX	Aster	0.0%	16.0%	0.1%	−5.4%	−5.9%	−8.9%	>999d	spike	$749k		Gt As	calc

What the columns and badges mean

now: Current funding spread APR: short-leg rate minus long-leg rate, annualized.
24h: Average spread APR over the last 24 hours, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet).
7d: Average spread APR over the last 7 days, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet). Used for ranking and net APR.
30d: Average spread APR over the last 30 days, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet).
7d trend: Spread APR over the last 7 days in 6-hour averages; the dashed line is zero.
Net APR: 7d spread APR minus taker fees to open and close both legs, spread over the holding period: net = spread7d − fees × 365 / days. Per unit of notional per leg.
On capital: Net APR on the capital posted for both legs at this leverage: net × leverage / 2.
Breakeven: Days of 7d-average funding needed to pay back open+close taker fees.
Min OI: Smaller open interest of the two legs, USD.
steady: Steady: prior-week spread at least 5% APR, last 24h positive and no spike, positive now. Not negative in X% of hours over 7 days.
spike: The last 24h spread is far above the prior 6-day average (more than 3×, or above 15% APR after a weak prior) — it may not last.
mixed: The spread was negative too often: not negative in only X% of hours over 7 days.
new: Less than 4 days of shared history in the prior week: stability cannot be judged yet.
weak: Prior-week spread under 5% APR: too small to call steady.
cooling: The prior week was solid, but the last 24h or the current spread is not positive.
≠ asset?: Mark prices differ by N bps — these may be different assets under one ticker, or contracts of a different size (e.g. per 1,000 coins). Verify before trading.
stale: At least one leg has not updated for over 30 minutes.
low OI: Open interest under $50k on at least one leg — size carefully.
8h/1h: Funding intervals differ (8h vs 1h): payments are not simultaneous.
TradFi: Tokenized stock, index or commodity: trading sessions and oracle rules may differ.
invite only: Invite-only venue: an account needs an invite code, so it is not selected by default. Tick it in the venue filter to include it.
spread not incl.: A leg trades on quotes with no fee (Variational): the cost is the market maker's quote spread, which we cannot see, so the net APR is before it. Compare the quote with the mark price before you trade.
CEX: Centralized exchange: trading needs an account with identity verification (KYC).

Prices now

Buy on the row's venue at its ask, sell on the column's venue at its bid; spread before fees.

Indicative · marks from 2026-10-12 03:16 UTC

Live quotes are unavailable right now (last update: never). Shown instead: indicative spreads between mark prices from the funding snapshot. Marks are taken minutes apart and are not prices you can trade at.

Indicative (mark or mid prices): buy on Lighter at 0.34402, sell on Nado at 0.347127: 0.899% before fees, 0.829% after taker fees.

PONS: spread buying on the row's venue and selling on the column's venue
Buy ↓ · Sell →	Nado0.347127	Hyperliquid0.34696	MEXC0.3469	RWA Perp0.34678	Aster0.34672	Polymarket0.34662	Extended0.346544	Binance0.3463	Bitget0.34627	Bybit0.3461	Gate0.3461	Lighter RH0.345545	Variational0.344883	Lighter0.34402
Lighter0.34402	0.899%	0.851%	0.834%	0.799%	0.782%	0.753%	0.731%	0.661%	0.652%	0.603%	0.603%	0.442%	0.250%	—
Variational0.344883	0.649%	0.601%	0.583%	0.549%	0.531%	0.502%	0.480%	0.410%	0.401%	0.352%	0.352%	0.192%	—	−0.250%
Lighter RH0.345545	0.457%	0.409%	0.391%	0.357%	0.339%	0.311%	0.289%	0.218%	0.210%	0.160%	0.160%	—	−0.192%	−0.442%
Bybit0.3461	0.296%	0.248%	0.231%	0.196%	0.179%	0.150%	0.128%	0.058%	0.049%	—	0.000%	−0.160%	−0.352%	−0.603%
Gate0.3461	0.296%	0.248%	0.231%	0.196%	0.179%	0.150%	0.128%	0.058%	0.049%	0.000%	—	−0.160%	−0.352%	−0.603%
Bitget0.34627	0.247%	0.199%	0.182%	0.147%	0.130%	0.101%	0.079%	0.009%	—	−0.049%	−0.049%	−0.210%	−0.401%	−0.652%
Binance0.3463	0.239%	0.190%	0.173%	0.139%	0.121%	0.092%	0.070%	—	−0.009%	−0.058%	−0.058%	−0.218%	−0.410%	−0.661%
Extended0.346544	0.168%	0.120%	0.103%	0.068%	0.051%	0.022%	—	−0.070%	−0.079%	−0.128%	−0.128%	−0.289%	−0.480%	−0.731%
Polymarket0.34662	0.146%	0.098%	0.081%	0.046%	0.029%	—	−0.022%	−0.092%	−0.101%	−0.150%	−0.150%	−0.311%	−0.502%	−0.753%
Aster0.34672	0.117%	0.069%	0.052%	0.017%	—	−0.029%	−0.051%	−0.121%	−0.130%	−0.179%	−0.179%	−0.339%	−0.531%	−0.782%
RWA Perp0.34678	0.100%	0.052%	0.035%	—	−0.017%	−0.046%	−0.068%	−0.139%	−0.147%	−0.196%	−0.196%	−0.357%	−0.549%	−0.799%
MEXC0.3469	0.066%	0.017%	—	−0.035%	−0.052%	−0.081%	−0.103%	−0.173%	−0.182%	−0.231%	−0.231%	−0.391%	−0.583%	−0.834%
Hyperliquid0.34696	0.048%	—	−0.017%	−0.052%	−0.069%	−0.098%	−0.120%	−0.190%	−0.199%	−0.248%	−0.248%	−0.409%	−0.601%	−0.851%
Nado0.347127	—	−0.048%	−0.066%	−0.100%	−0.117%	−0.146%	−0.168%	−0.239%	−0.247%	−0.296%	−0.296%	−0.457%	−0.649%	−0.899%

All quotes (14)

Venue	Bid	Ask	Quality	Age	Vol 24h	Flags
Aster	0.34672	0.34672	mark	5m	$522k	no FX
BinanceCEX	0.3463	0.3463	mark	5m	$29.7M	no FX
BitgetCEX	0.34627	0.34627	mark	5m	$3.5M	no FX
BybitCEX	0.3461	0.3461	mark	5m	$11.6M	no FX
Extended	0.346544	0.346544	mark	5m	$66k
GateCEX	0.3461	0.3461	mark	5m	$1.7M	no FX
Hyperliquid	0.34696	0.34696	mark	5m	$7.4M
Lighter	0.34402	0.34402	mark	5m	$264k
MEXCCEX	0.3469	0.3469	mark	5m	$3.0M	no FX
Nado	0.347127	0.347127	mark	5m	$6k	no FX
Polymarket	0.34662	0.34662	mark	5m	$172k
Lighter RH	0.345545	0.345545	mark	5m	$301k
RWA Perp	0.34678	0.34678	mark	5m	$0
Variational	0.344883	0.344883	mark	5m	$2.0M

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