Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0535%/8h= +58.5% APRpaid last 24h +0.130%

Price spread now: MEXC against gTrade (Gains Network)+0.206%7-day average +0.164% · 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−$4,594as in the Price arb table

costs, in and out, $10k−$4,59845.982% of the position

Long on gTrade (Gains Network)Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 2 days (all we have)+0.190%+$19 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now +0.206%, 7d avg +0.164%

Together, before fees+0.202%+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and MEXC is 0.042% 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 +0.164%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.6429	L +0.0031% / S −0.0029%	pay 0.0004% / 1h	10m 25s	$253K	—	150x
Short	MEXC PONS_USDT	0.6442	0.0566	get 0.0283% / 4h	10m 25s	$7.9M	$4.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.206%Rate

Funding earned: $112.28
Price spread: +0.206% → +0.164%: $4.23
Slippage, 4 orders: −$4,586.17
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$4,481.66
Costs to cover: 45.982%
Break-even: 286.4 days

Slippage from gTrade (Gains Network): virtual book (oracle exchange), 32 min ago; MEXC: live order book, just now.

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 exchange), 32 min ago	130.00 bp	2119.9 bp −$2,120	16869.5 bp −$168.7K	doesn't fit	doesn't fit
Sell MEXC live order book, just now	0.78 bp	2.3 bp −$2	13.6 bp −$136	395.7 bp −$39.6K	doesn't fit

PONS on 30 exchanges

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 +0.0031% / S −0.0029%	1h	0.6429	long leg	$253K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−7.626%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6443	+0.222%	$21K	$413K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6431	+0.035%	$75K	$94K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6412	−0.256%	$32K	$284K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6438	+0.142%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6429	−0.001%	—	$808K	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6438	+0.147%	$27K	$598K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6433	+0.065%	$67K	$556K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6437	+0.128%	$1.7M	$3.2M	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0224%	1h	0.6425	−0.058%	$400	—	3x	as long as short
Hyperliquid PONS	+0.0256%	1h	0.6442	+0.198%	$65.7M	$29.6M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0290%	4h	0.6442	+0.206%	$14.2M	$60.7M	20x	as long as short
Aster PONSUSDT	+0.0388%	4h	0.6438	+0.142%	$1.2M	$2.1M	20x	as long as short
Pacifica PONS	+0.0517%	1h	0.6438	+0.150%	$47K	$73K	3x	as long as short
KuCoin PONSUSDTM	+0.0550%	4h	0.6443	+0.215%	$1.8M	$4.3M	20x	as long as short
Lighter RH PONS	+0.0560%	1h	0.6438	+0.144%	$448K	$2.6M	3x	as long as short
Binance PONSUSDT	+0.0561%	4h	0.6443	+0.224%	$41.7M	$98.7M	20x	as long as short
Variational Omni PONS	+0.0564%	4h	0.6434	+0.085%	$1.5M	$3.7M	—	as long as short
MEXC PONS_USDTshort	+0.0566%	4h	0.6442	+0.206%	$7.9M	$4.6M	20x
Extended PONS-USD	+0.0568%	1h	0.6440	+0.171%	$185K	$821K	5x	as long as short
edgeX PONSUSDC	+0.0568%	4h	0.6432	+0.046%	$18K	$294K	10x	as long as short
Bitget PONSUSDT	+0.0662%	4h	0.6444	+0.236%	$5.1M	$13.1M	20x	as long as short
BingX PONS-USDT	+0.0702%	4h	0.6432	+0.051%	—	$3.1M	—	as long as short
Polymarket Perps PONS-USD	+0.0745%	1h	0.6443	+0.222%	$73K	$2.1M	3x	as long as short
Bybit PONSUSDT	+0.0762%	4h	0.6440	+0.175%	$19.4M	$31.5M	20x	as long as short
BloFin PONS-USDT	+0.0808%	4h	0.6444	+0.237%	$1.9M	$1.1M	20x	as long as short
Lighter PONS	+0.0848%	1h	0.6439	+0.158%	$1.8M	$850K	3x	as long as short
Phoenix PONS	+0.1439%	1h	0.6441	+0.183%	$49K	$153K	3x	as long as short
Gate PONS_USDT	+0.1496%	4h	0.6430	+0.019%	$5.5M	$6.6M	20x	as long as short