PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0575%/8h= +62.9% APRnext payment +$0.72 per $10,000 · paid last 24h +0.185%

Price spread now: Hyperliquid against gTrade (Gains Network)+0.209%7-day average +0.158% · 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−$4,607as in the Price arb table

costs, in and out, $10k−$4,61246.121% of the position

Long on gTrade (Gains Network)Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.243%+$24 on $10k

Price spread, last 3 days (all we have)−0.138%−$14 · spread now +0.209%, 7d avg +0.158%

Together, before fees+0.104%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Hyperliquid is 0.051% 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 +0.158%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.5977	L +0.0033% / S −0.0033%	pay 0.0004% / 1h	55m 01s	$237K	—	150x
Short	Hyperliquid PONS	0.5989	0.0608	get 0.0076% / 1h	55m 01s	$60.9M	$29.0M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.209%Rate

Funding earned: $120.69
Price spread: +0.209% → +0.158%: $5.15
Slippage, 4 orders: −$4,591.13
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$4,486.29
Costs to cover: 46.121%
Break-even: 267.2 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 14 min ago; Hyperliquid: live order book, 9 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), 14 min ago	130.01 bp	2119.7 bp −$2,120	16868.4 bp −$168.7K	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	3.46 bp	8.0 bp −$8	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 +0.0033% / S −0.0033%	1h	0.5977	long leg	$237K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.120%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5984	+0.122%	$421K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5985	+0.139%	$16K	$420K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5976	−0.019%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6016	+0.653%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5989	+0.215%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5989	+0.211%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5985	+0.139%	$26K	$533K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5998	+0.358%	$64K	$510K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.5989	+0.206%	$1.6M	$3.2M	20x	as long as short
Lighter PONS	+0.0144%	1h	0.5984	+0.122%	$1.7M	$881K	3x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.5985	+0.143%	$373	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0228%	4h	0.5982	+0.089%	$13.7M	$55.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0240%	4h	0.5978	+0.030%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0288%	4h	0.5984	+0.119%	$4.6M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0294%	4h	0.5982	+0.090%	$1.1M	$2.0M	20x	as long as short
Nado PONS-PERP	+0.0333%	1h	0.5986	+0.156%	$103K	$115K	5x	as long as short
Extended PONS-USD	+0.0376%	1h	0.5983	+0.099%	$248K	$682K	5x	as long as short
Binance PONSUSDT	+0.0379%	4h	0.5984	+0.122%	$39.3M	$96.1M	20x	as long as short
MEXC PONS_USDT	+0.0382%	4h	0.5984	+0.122%	$7.8M	$4.7M	20x	as long as short
Bybit PONSUSDT	+0.0398%	4h	0.5980	+0.056%	$18.0M	$30.8M	20x	as long as short
edgeX PONSUSDC	+0.0403%	4h	0.6016	+0.658%	$21K	$291K	10x	as long as short
BingX PONS-USDT	+0.0434%	4h	0.5990	+0.223%	—	$3.1M	—	as long as short
Hyperliquid PONSshort	+0.0608%	1h	0.5989	+0.209%	$60.9M	$29.0M	3x
BloFin PONS-USDT	+0.0619%	4h	0.5985	+0.139%	$1.8M	$980K	20x	as long as short
Polymarket Perps PONS-USD	+0.0682%	1h	0.5984	+0.114%	$46K	$1.6M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.5984	+0.119%	$47K	$78K	3x	as long as short
Gate PONS_USDT	+0.0904%	4h	0.5988	+0.189%	$5.2M	$6.0M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6036	+0.996%	$31K	$107K	3x	as long as short