Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0149%/8h= +16.4% APRpaid last 24h +0.181%

Price spread now: BingX against gTrade (Gains Network)+0.089%7-day average +0.171% · you sell dearer than you buy

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−$4,61546.147% of the position

Long on gTrade (Gains Network)Short on BingX

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.181%+$18 on $10k

Price spread, last 3 days (all we have)+0.111%+$11 · spread now +0.089%, 7d avg +0.171%

Together, before fees+0.292%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.082% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread +0.089% now, against its 7-day average of +0.171%). If the spread goes back, that is −$8 on $10k: about 44 hours of funding at the current rate (+$4 a day). At the pace of the last 1 day (+0.181% in total) that is about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.5988	L +0.0033% / S −0.0034%	pay 0.0004% / 1h	21m 55s	$220K	—	150x
Short	BingX PONS-USDT	0.5993	0.0182	get 0.0091% / 4h	1h 21m	—	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now +0.089%Rate

Funding earned: $31.38
Price spread: +0.089% → +0.171%: −$8.22
Slippage, 4 orders: −$4,592.65
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$4,591.49
Costs to cover: 46.147%
Break-even: 1031.1 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 62 min ago; BingX: live order book, 3 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 gTrade (Gains Network) virtual book (oracle venue), 62 min ago	130.01 bp	2119.9 bp −$2,120	16869.1 bp −$168.7K	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	2.50 bp	13.1 bp −$13	37.4 bp −$374	146.2 bp −$14.6K	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/USDlong	L +0.0033% / S −0.0034%	1h	0.5988	long leg	$220K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.303%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5995	+0.122%	$19K	$438K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5995	+0.122%	$17.9M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5995	+0.122%	$13.6M	$56.4M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5995	+0.122%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5996	+0.137%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5961	−0.441%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5994	+0.111%	$35K	$350K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6002	+0.239%	$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	0.5998	+0.166%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5994	+0.109%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6006	+0.309%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5993	+0.089%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5995	+0.122%	$373	—	3x	as long as short
Aster PONSUSDT	+0.0145%	4h	0.5996	+0.136%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0174%	4h	0.5991	+0.058%	$21K	$292K	10x	as long as short
BingX PONS-USDTshort	+0.0182%	4h	0.5993	+0.089%	—	$3.1M	—
Extended PONS-USD	+0.0192%	1h	0.5998	+0.171%	$248K	$667K	5x	as long as short
MEXC PONS_USDT	+0.0192%	4h	0.5997	+0.156%	$7.7M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0192%	4h	0.5997	+0.156%	$39.0M	$97.8M	20x	as long as short
Nado PONS-PERP	+0.0234%	1h	0.5991	+0.056%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0400%	1h	0.5995	+0.117%	$423K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0432%	4h	0.5985	−0.045%	$1.7M	$981K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5998	+0.171%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0502%	1h	0.5994	+0.112%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0680%	1h	0.5995	+0.121%	$60.6M	$30.1M	3x	as long as short
Lighter PONS	+0.0752%	1h	0.5995	+0.122%	$1.7M	$998K	3x	as long as short
Gate PONS_USDT	+0.1318%	4h	0.5993	+0.089%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5990	+0.034%	$30K	$96K	3x	as long as short