Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.020%

Price spread now: Orderly against gTrade (Gains Network)+0.349%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.349% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$35 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.6297	L +0.0032% / S −0.0029%	pay 0.0004% / 1h	42m 07s	$239K	—	150x
Short	Orderly PERP_PONS_USDC_mythos	0.6319	0.0100	get 0.0050% / 4h	42m 07s	$2K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.349%Rate

Funding earned: $14.25
Price spread: +0.349% → 0.000%: $34.91
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $31.15
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): virtual book (oracle venue), 62 min ago; Orderly: no order-book sample. Net counts fees only.

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), 62 min ago	130.01 bp	2119.7 bp −$2,120	16868.8 bp −$168.7K	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0029%	1h	0.6297	long leg	$239K	—	150x
Popdex PONSUSDT	+0.0096%	1h	0.6312	+0.239%	$22K	$454K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6184	−1.798%	$30K	$303K	5x	as long as short
Orderly PERP_PONS_USDC_mythosshort	+0.0100%	4h	0.6319	+0.349%	$2K	$4K	10x
SunX PONS-USDT	+0.0100%	4h	0.6306	+0.151%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6309	+0.185%	$27K	$627K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6305	+0.130%	$68K	$536K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6299	+0.033%	$1.7M	$3.2M	20x	as long as short
Nado PONS-PERP	+0.0125%	1h	0.6310	+0.208%	$74K	$130K	5x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.6312	+0.247%	$393	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PONS-USDT-SWAP	+0.0422%	4h	0.6306	+0.144%	$14.4M	$60.7M	20x	as long as short
Variational Omni PONS	+0.0525%	4h	0.6174	−1.955%	$1.5M	$4.1M	—	as long as short
edgeX PONSUSDC	+0.0528%	4h	0.6159	−2.195%	$21K	$291K	10x	as long as short
Aster PONSUSDT	+0.0538%	4h	0.6311	+0.226%	$1.2M	$2.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0568%	4h	0.6312	+0.238%	$1.6M	$3.9M	20x	as long as short
Pacifica PONS	+0.0572%	1h	0.6302	+0.076%	$48K	$68K	3x	as long as short
MEXC PONS_USDT	+0.0576%	4h	0.6312	+0.239%	$8.2M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0607%	4h	0.6310	+0.208%	$40.8M	$102.6M	20x	as long as short
Extended PONS-USD	+0.0608%	1h	0.6310	+0.202%	$106K	$818K	5x	as long as short
BingX PONS-USDT	+0.0666%	4h	0.6309	+0.192%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0697%	4h	0.6309	+0.192%	$19.1M	$32.3M	20x	as long as short
Bitget PONSUSDT	+0.0704%	4h	0.6311	+0.230%	$4.9M	$12.7M	20x	as long as short
BloFin PONS-USDT	+0.0816%	4h	0.6279	−0.285%	$1.8M	$995K	20x	as long as short
Gate PONS_USDT	+0.0846%	4h	0.6297	+0.001%	$5.5M	$6.4M	20x	as long as short
Lighter RH PONS	+0.0872%	1h	0.6308	+0.176%	$446K	$2.6M	3x	as long as short
Hyperliquid PONS	+0.0908%	1h	0.6309	+0.184%	$64.3M	$30.3M	3x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−5.692%	$610	$10K	5.5x	as long as short
Lighter PONS	+0.1120%	1h	0.6312	+0.246%	$1.8M	$844K	3x	as long as short
Phoenix PONS	+0.1405%	1h	0.6180	−1.850%	$47K	$127K	3x	as long as short
Polymarket Perps PONS-USD	+0.1471%	1h	0.6310	+0.201%	$91K	$2.2M	3x	as long as short