Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0085%/8h= +9.3% APRpaid last 24h +0.135%

Price spread now: Gate against gTrade (Gains Network)+0.126%7-day average +0.090% · 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−$4,637as in the Price arb table

costs, in and out, $10k−$4,64046.402% of the position

Long on gTrade (Gains Network)Short on Gate

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.217%+$22 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.126%, 7d avg +0.090%

Together, before fees+0.204%+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Gate is 0.036% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.6031	L +0.0033% / S −0.0033%	pay 0.0004% / 1h	15m 56s	$239K	—	150x
Short	Gate PONS_USDT	0.6039	0.0118	get 0.0059% / 4h	1h 15m	$5.3M	$6.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.126%Rate

Funding earned: $17.88
Price spread: +0.126% → +0.090%: $3.58
Slippage, 4 orders: −$4,613.23
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$4,618.77
Costs to cover: 46.402%
Break-even: 1815.5 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 48 min ago; Gate: live order book, 2 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), 48 min ago	130.01 bp	2119.9 bp −$2,120	16869.0 bp −$168.7K	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	0.83 bp	22.5 bp −$23	71.5 bp −$715	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 +0.0033% / S −0.0033%	1h	0.6031	long leg	$239K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.027%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6027	−0.073%	$21K	$434K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5984	−0.793%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6049	+0.288%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6030	−0.025%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6046	+0.233%	$26K	$528K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6049	+0.288%	$64K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6035	+0.059%	$1.7M	$3.2M	20x	as long as short
Gate PONS_USDTshort	+0.0118%	4h	0.6039	+0.126%	$5.3M	$6.3M	20x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONS	+0.0178%	4h	0.6039	+0.123%	$1.4M	$3.9M	—	as long as short
Nado PONS-PERP	+0.0204%	1h	0.6035	+0.062%	$71K	$129K	5x	as long as short
Aevo PONS-PERP	+0.0208%	1h	0.6046	+0.244%	$377	—	3x	as long as short
Lighter RH PONS	+0.0264%	1h	0.6045	+0.227%	$416K	$2.5M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0301%	4h	0.6045	+0.225%	$13.7M	$55.2M	20x	as long as short
Lighter PONS	+0.0312%	1h	0.6046	+0.238%	$1.7M	$876K	3x	as long as short
Bitget PONSUSDT	+0.0408%	4h	0.6048	+0.281%	$4.7M	$11.4M	20x	as long as short
KuCoin PONSUSDTM	+0.0436%	4h	0.6044	+0.213%	$1.7M	$3.7M	20x	as long as short
Aster PONSUSDT	+0.0436%	4h	0.6039	+0.119%	$1.1M	$2.1M	20x	as long as short
BingX PONS-USDT	+0.0488%	4h	0.6056	+0.407%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0498%	4h	0.6046	+0.242%	$18.1M	$30.6M	20x	as long as short
Extended PONS-USD	+0.0504%	1h	0.6044	+0.214%	$249K	$673K	5x	as long as short
MEXC PONS_USDT	+0.0506%	4h	0.6046	+0.242%	$7.7M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0508%	4h	0.6052	+0.348%	$39.6M	$94.6M	20x	as long as short
edgeX PONSUSDC	+0.0511%	4h	0.6000	−0.516%	$18K	$293K	10x	as long as short
Hyperliquid PONS	+0.0728%	1h	0.6038	+0.101%	$61.5M	$27.8M	3x	as long as short
BloFin PONS-USDT	+0.0748%	4h	0.6026	−0.090%	$1.7M	$967K	20x	as long as short
Pacifica PONS	+0.0755%	1h	0.6029	−0.047%	$47K	$70K	3x	as long as short
Polymarket Perps PONS-USD	+0.0832%	1h	0.6024	−0.123%	$69K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.5961	−1.163%	$31K	$98K	3x	as long as short