Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0144%/8h= −15.8% APRpaid last 24h −0.121%

Price spread now: gTrade (Gains Network) against edgeX−0.251%7-day average −0.143% · 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−$4,642as in the Price arb table

costs, in and out, $10k−$4,63146.310% of the position

Long on edgeX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.120%−$12 on $10k

Price spread, last 3 days (all we have)+0.128%+$13 · spread now −0.251%, 7d avg −0.143%

Together, before fees+0.007%+ Points / potential airdropedgeX: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and gTrade (Gains Network) is 0.108% cheaper against edgeX than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.143%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX PONSUSDC	0.5985	0.0180	pay 0.0090% / 4h	1h 10m	$21K	$292K	10x
Short	gTrade (Gains Network) PONS/USD	0.5970	L +0.0033% / S −0.0036%	get 0.0004% / 1h	10m 49s	$224K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against edgeX. 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 edgeXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.251%Rate

Funding earned: −$30.34
Price spread: −0.251% → −0.143%: −$10.79
Slippage, 4 orders: −$4,609.96
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,672.1
Costs to cover: 46.310%
Break-even: never at this rate

Slippage from edgeX: live order book, 7 min ago; gTrade (Gains Network): virtual book (oracle venue), 8 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 edgeX live order book, 7 min ago	11.68 bp	20.3 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 8 min ago	130.01 bp	2470.8 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 −0.0036%	1h	0.5970	−0.251%	$224K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.257%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5980	−0.082%	$21K	$439K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5987	+0.035%	$17.9M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5986	+0.019%	$13.5M	$56.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5983	−0.033%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5994	+0.156%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5983	−0.027%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5991	+0.110%	$35K	$352K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5984	−0.010%	$3K	$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	0.5979	−0.097%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5976	−0.154%	$27K	$545K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5995	+0.171%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5975	−0.165%	$1.7M	$3.3M	20x	as long as short
Aster PONSUSDT	+0.0124%	4h	0.5981	−0.065%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5978	−0.123%	$372	—	3x	as long as short
edgeX PONSUSDClong	+0.0180%	4h	0.5985	long leg	$21K	$292K	10x
Binance PONSUSDT	+0.0181%	4h	0.5988	+0.048%	$39.0M	$97.7M	20x	as long as short
MEXC PONS_USDT	+0.0182%	4h	0.5984	−0.015%	$7.8M	$4.9M	20x	as long as short
Extended PONS-USD	+0.0184%	1h	0.5980	−0.076%	$248K	$667K	5x	as long as short
BingX PONS-USDT	+0.0184%	4h	0.5985	+0.002%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0211%	1h	0.5980	−0.082%	$90K	$103K	5x	as long as short
Lighter RH PONS	+0.0264%	1h	0.5978	−0.113%	$422K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0421%	4h	0.5979	−0.098%	$1.7M	$978K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5980	−0.076%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0479%	1h	0.5979	−0.103%	$37K	$1.7M	3x	as long as short
Lighter PONS	+0.0608%	1h	0.5989	+0.067%	$1.7M	$1.0M	3x	as long as short
Hyperliquid PONS	+0.0680%	1h	0.5991	+0.110%	$60.6M	$30.2M	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.5981	−0.065%	$30K	$96K	3x	as long as short
Gate PONS_USDT	+0.1484%	4h	0.5986	+0.019%	$5.2M	$6.5M	20x	as long as short