Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0527%/8h= −57.8% APRpaid last 24h −0.147%

Price spread now: gTrade (Gains Network) against BingX−0.398%7-day average −0.173% · 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−$4,633as in the Price arb table

costs, in and out, $10k−$4,61146.110% of the position

Long on BingX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.190%−$19 on $10k

Price spread, last 3 days (all we have)+0.192%+$19 · spread now −0.398%, 7d avg −0.173%

Together, before fees+0.002%$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and gTrade (Gains Network) is 0.225% cheaper against BingX than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.173%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PONS-USDT	0.6103	0.0560	pay 0.0280% / 4h	3h 16m	—	$3.1M	—
Short	gTrade (Gains Network) PONS/USD	0.6079	L +0.0033% / S −0.0033%	get 0.0004% / 1h	16m 40s	$241K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BingX. 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 BingXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.398%Rate

Funding earned: −$110.75
Price spread: −0.398% → −0.173%: −$22.46
Slippage, 4 orders: −$4,588.97
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,744.18
Costs to cover: 46.110%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 57 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 BingX live order book, 3 min ago	0.82 bp	10.3 bp −$10	28.6 bp −$286	370.2 bp −$37.0K	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 57 min ago	130.01 bp	2471.1 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 +0.0033% / S −0.0033%	1h	0.6079	−0.398%	$241K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.187%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6101	−0.034%	$430K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6095	−0.131%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6082	−0.344%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6093	−0.157%	$33K	$358K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6098	−0.088%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6094	−0.144%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6092	−0.184%	$28K	$544K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6103	−0.005%	$65K	$510K	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	0.6091	−0.197%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6082	−0.346%	$379	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0185%	4h	0.6101	−0.033%	$14.0M	$56.5M	20x	as long as short
KuCoin PONSUSDTM	+0.0198%	4h	0.6103	+0.002%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0262%	4h	0.6104	+0.013%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0290%	4h	0.6100	−0.056%	$1.1M	$2.1M	20x	as long as short
MEXC PONS_USDT	+0.0360%	4h	0.6100	−0.049%	$7.9M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0364%	4h	0.6104	+0.016%	$40.1M	$96.3M	20x	as long as short
Extended PONS-USD	+0.0368%	1h	0.6099	−0.066%	$252K	$678K	5x	as long as short
edgeX PONSUSDC	+0.0379%	4h	0.6082	−0.348%	$21K	$293K	10x	as long as short
Lighter PONS	+0.0424%	1h	0.6101	−0.034%	$1.7M	$933K	3x	as long as short
BingX PONS-USDTlong	+0.0560%	4h	0.6103	long leg	—	$3.1M	—
BloFin PONS-USDT	+0.0604%	4h	0.6096	−0.115%	$1.8M	$990K	20x	as long as short
Nado PONS-PERP	+0.0612%	1h	0.6094	−0.147%	$105K	$115K	5x	as long as short
Bybit PONSUSDT	+0.0614%	4h	0.6100	−0.049%	$18.3M	$30.9M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6102	−0.016%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0770%	1h	0.6093	−0.159%	$44K	$1.6M	3x	as long as short
Gate PONS_USDT	+0.0780%	4h	0.6089	−0.229%	$5.3M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0874%	1h	0.6102	−0.016%	$62.0M	$29.1M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6094	−0.152%	$32K	$113K	3x	as long as short