Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0363%/8h= +39.7% APRpaid last 24h +0.046%

Price spread now: OKX against gTrade (Gains Network)+0.349%7-day average +0.118% · 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−$4,593as in the Price arb table

costs, in and out, $10k−$4,61746.165% of the position

Long on gTrade (Gains Network)Short on OKX

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.096%+$10 on $10k

Price spread, last 4 days (all we have)−0.167%−$17 · spread now +0.349%, 7d avg +0.118%

Together, before fees−0.071%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and OKX is 0.231% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.118%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.5863	L +0.0033% / S −0.0032%	pay 0.0004% / 1h	14m 41s	$233K	—	150x
Short	OKX PONS-USDT-SWAP	0.5883	0.0395	get 0.0198% / 4h	2h 14m	$13.3M	$55.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.349%Rate

Funding earned: $76.13
Price spread: +0.349% → +0.118%: $23.1
Slippage, 4 orders: −$4,594.53
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$4,517.3
Costs to cover: 46.165%
Break-even: 422.3 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 34 min ago; OKX: live order book, 4 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), 34 min ago	130.01 bp	2119.4 bp −$2,119	16868.4 bp −$168.7K	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.71 bp	14.4 bp −$14	28.5 bp −$285	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 −0.0032%	1h	0.5863	long leg	$233K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.825%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5875	+0.206%	$410K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5868	+0.093%	$21K	$439K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5873	+0.177%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5863	+0.013%	$69K	$131K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5873	+0.179%	$5.2M	$6.4M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5868	+0.088%	$29K	$329K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5865	+0.037%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5871	+0.150%	$25K	$587K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDT	+0.0100%	4h	0.5864	+0.030%	$64K	$526K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5867	+0.076%	$1.6M	$3.2M	20x	as long as short
Hyperliquid PONS	+0.0205%	1h	0.5878	+0.264%	$59.6M	$29.6M	3x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.5868	+0.093%	$366	—	3x	as long as short
OKX PONS-USDT-SWAPshort	+0.0395%	4h	0.5883	+0.349%	$13.3M	$55.4M	20x
Aster PONSUSDT	+0.0465%	4h	0.5873	+0.184%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0584%	1h	0.5871	+0.147%	$100K	$814K	5x	as long as short
MEXC PONS_USDT	+0.0586%	4h	0.5877	+0.247%	$7.5M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0588%	4h	0.5879	+0.279%	$37.4M	$98.6M	20x	as long as short
edgeX PONSUSDC	+0.0602%	4h	0.5877	+0.243%	$20K	$296K	10x	as long as short
Bitget PONSUSDT	+0.0614%	4h	0.5885	+0.382%	$4.6M	$12.2M	20x	as long as short
Variational Omni PONS	+0.0630%	4h	0.5862	−0.017%	$1.3M	$4.1M	—	as long as short
Lighter PONS	+0.0688%	1h	0.5879	+0.289%	$1.6M	$939K	3x	as long as short
KuCoin PONSUSDTM	+0.0700%	4h	0.5877	+0.250%	$1.6M	$3.8M	20x	as long as short
Pacifica PONS	+0.0715%	1h	0.5878	+0.270%	$45K	$69K	3x	as long as short
Polymarket Perps PONS-USD	+0.0733%	1h	0.5869	+0.104%	$111K	$1.9M	3x	as long as short
BloFin PONS-USDT	+0.0828%	4h	0.5867	+0.076%	$1.7M	$941K	20x	as long as short
BingX PONS-USDT	+0.0888%	4h	0.5883	+0.349%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0975%	4h	0.5880	+0.298%	$17.6M	$31.6M	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5877	+0.247%	$45K	$121K	3x	as long as short