Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0149%/8h= −16.3% APRpaid last 24h −0.116%

Price spread now: gTrade (Gains Network) against Binance−0.118%7-day average −0.151% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$4,612as in the Price arb table

costs, in and out, $10k−$4,61546.152% of the position

Long on Binance Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.115%−$12 on $10k

Price spread, last 3 days (all we have)−0.152%−$15 · spread now −0.118%, 7d avg −0.151%

Together, before fees−0.268%−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.032% dearer against Binance than usual: you sell high and buy low (spread −0.118% now, against its 7-day average of −0.151%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 1 day (−0.115% in total) that is about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PONSUSDT	0.5899	0.0182	pay 0.0091% / 4h	2h 33m	$38.3M	$98.3M	20x
Short	gTrade (Gains Network) PONS/USD	0.5892	L +0.0032% / S −0.0034%	get 0.0004% / 1h	33m 43s	$216K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BinancebpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.118%Rate

Funding earned: −$31.19
Price spread: −0.118% → −0.151%: $3.23
Slippage, 4 orders: −$4,593.22
Fee Binance: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,643.18
Costs to cover: 46.152%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; gTrade (Gains Network): virtual book (oracle venue), 55 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 Binance live order book, 9 min ago	0.86 bp	9.6 bp −$10	23.6 bp −$236	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 55 min ago	130.01 bp	2471.0 bp −$2,471	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/USDshort	L +0.0032% / S −0.0034%	1h	0.5892	−0.118%	$216K	—	150x
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.344%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5899	−0.006%	$21K	$447K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5899	−0.006%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5900	+0.011%	$13.4M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5898	−0.023%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5899	−0.002%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5865	−0.577%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5866	−0.563%	$34K	$330K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5906	+0.113%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5898	−0.026%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5897	−0.046%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5906	+0.118%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5895	−0.073%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5896	−0.056%	$367	—	3x	as long as short
Nado PONS-PERP	+0.0149%	1h	0.5898	−0.021%	$89K	$103K	5x	as long as short
BingX PONS-USDT	+0.0154%	4h	0.5896	−0.056%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0163%	4h	0.5834	−1.116%	$20K	$292K	10x	as long as short
MEXC PONS_USDT	+0.0182%	4h	0.5900	+0.011%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDTlong	+0.0182%	4h	0.5899	long leg	$38.3M	$98.3M	20x
Extended PONS-USD	+0.0184%	1h	0.5898	−0.018%	$105K	$533K	5x	as long as short
Gate PONS_USDT	+0.0206%	4h	0.5892	−0.124%	$5.1M	$6.8M	20x	as long as short
Aster PONSUSDT	+0.0223%	4h	0.5902	+0.049%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0335%	1h	0.5898	−0.014%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0409%	4h	0.5900	+0.011%	$1.7M	$968K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5898	−0.016%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0542%	1h	0.5897	−0.040%	$58.9M	$30.0M	3x	as long as short
Lighter RH PONS	+0.0592%	1h	0.5900	+0.010%	$394K	$2.6M	3x	as long as short
Lighter PONS	+0.1128%	1h	0.5906	+0.110%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5836	−1.067%	$27K	$86K	3x	as long as short