Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0389%/8h= −42.6% APRpaid last 24h −0.188%

Price spread now: gTrade (Gains Network) against BloFin−0.231%7-day average −0.200% · 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−$4,623as in the Price arb table

costs, in and out, $10k−$4,62046.197% of the position

Long on BloFin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.188%−$19 on $10k

Price spread, last 3 days (all we have)−0.413%−$41 · spread now −0.231%, 7d avg −0.200%

Together, before fees−0.601%−$60 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and gTrade (Gains Network) is 0.031% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.200%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PONS-USDT	0.5909	0.0423	pay 0.0211% / 4h	2h 24m	$1.7M	$967K	20x
Short	gTrade (Gains Network) PONS/USD	0.5895	L +0.0032% / S −0.0034%	get 0.0004% / 1h	24m 59s	$216K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BloFin. 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 BloFinbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.231%Rate

Funding earned: −$81.67
Price spread: −0.231% → −0.200%: −$3.08
Slippage, 4 orders: −$4,595.7
Fee BloFin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,704.44
Costs to cover: 46.197%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 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 BloFin live order book, 3 min ago	1.69 bp	15.6 bp −$16	33.4 bp −$334	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 64 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	0.5895	−0.231%	$216K	—	150x
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.179%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5902	−0.118%	$21K	$446K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5904	−0.088%	$89K	$103K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5904	−0.085%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5904	−0.085%	$13.4M	$56.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5902	−0.118%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5906	−0.046%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5909	−0.003%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5907	−0.039%	$34K	$332K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5910	+0.012%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5906	−0.052%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5904	−0.093%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5914	+0.091%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5897	−0.203%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5905	−0.076%	$368	—	3x	as long as short
Binance PONSUSDT	+0.0183%	4h	0.5907	−0.041%	$38.4M	$98.4M	20x	as long as short
BingX PONS-USDT	+0.0183%	4h	0.5905	−0.068%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0184%	1h	0.5903	−0.103%	$105K	$533K	5x	as long as short
MEXC PONS_USDT	+0.0184%	4h	0.5903	−0.102%	$7.5M	$5.2M	20x	as long as short
edgeX PONSUSDC	+0.0199%	4h	0.5907	−0.026%	$21K	$292K	10x	as long as short
Aster PONSUSDT	+0.0208%	4h	0.5901	−0.142%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0345%	1h	0.5903	−0.102%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDTlong	+0.0423%	4h	0.5909	long leg	$1.7M	$967K	20x
Pacifica PONS	+0.0474%	1h	0.5904	−0.089%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0503%	1h	0.5907	−0.038%	$59.1M	$30.1M	3x	as long as short
Gate PONS_USDT	+0.0580%	4h	0.5904	−0.085%	$5.2M	$6.8M	20x	as long as short
Lighter RH PONS	+0.0648%	1h	0.5906	−0.046%	$395K	$2.6M	3x	as long as short
Lighter PONS	+0.1080%	1h	0.5909	0.000%	$1.7M	$882K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5912	+0.046%	$28K	$86K	3x	as long as short