Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0155%/8h= +16.9% APRpaid last 24h +0.125%

Price spread now: edgeX against gTrade (Gains Network)+0.190%52s7-day average +0.143% · 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—prices read too far apart to compare

costs, in and out, $10k−$4,63246.321% of the position

Long on gTrade (Gains Network)Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.125%+$13 on $10k

Price spread, last 3 days (all we have)+0.104%+$10 · spread now +0.190%, 7d avg +0.143%

Together, before fees+0.230%+ Points / potential airdropedgeX: Active · farm board+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and edgeX is 0.047% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.143%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.5895	L +0.0032% / S −0.0034%	pay 0.0004% / 1h	27m 32s	$216K	—	150x
Short	edgeX PONSUSDC	0.5907	0.0187	get 0.0093% / 4h	2h 27m	$21K	$294K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.190%Rate

Funding earned: $32.48
Price spread: +0.190% → +0.143%: $4.71
Slippage, 4 orders: −$4,611.07
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$4,594.88
Costs to cover: 46.321%
Break-even: 997.3 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 61 min ago; edgeX: live order book, 60 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), 61 min ago	130.01 bp	2119.7 bp −$2,120	16868.6 bp −$168.7K	doesn't fit	doesn't fit
Sell edgeX live order book, 60 min ago	11.84 bp	20.7 bp −$21	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/USDlong	L +0.0032% / S −0.0034%	1h	0.5895	long leg	$216K	—	150x
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.410%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5905	+0.163%	$21K	$447K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5904	+0.152%	$89K	$103K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5904	+0.146%	$17.7M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5902	+0.112%	$13.4M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5908	+0.215%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5907	+0.197%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5903	+0.133%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5903	+0.125%	$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	0.5907	+0.198%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5908	+0.217%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5902	+0.119%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5919	+0.398%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5901	+0.095%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5907	+0.201%	$368	—	3x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5906	+0.180%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0184%	1h	0.5909	+0.236%	$105K	$533K	5x	as long as short
MEXC PONS_USDT	+0.0184%	4h	0.5908	+0.214%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0184%	4h	0.5906	+0.180%	$38.4M	$98.4M	20x	as long as short
edgeX PONSUSDCshort	+0.0187%	4h	0.5907	+0.190%	$21K	$294K	10x
Aster PONSUSDT	+0.0217%	4h	0.5909	+0.236%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0339%	1h	0.5905	+0.154%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0421%	4h	0.5912	+0.281%	$1.7M	$970K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5909	+0.224%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0522%	1h	0.5908	+0.217%	$59.1M	$30.1M	3x	as long as short
Gate PONS_USDT	+0.0534%	4h	0.5906	+0.180%	$5.2M	$6.8M	20x	as long as short
Lighter RH PONS	+0.0640%	1h	0.5910	+0.256%	$395K	$2.6M	3x	as long as short
Lighter PONS	+0.1120%	1h	0.5913	+0.303%	$1.7M	$882K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5899	+0.061%	$27K	$86K	3x	as long as short