Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.4% APRpaid last 24h +0.021%

Price spread now: SunX against gTrade (Gains Network)+0.074%7-day average +0.190% · 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−$4,853as in the Price arb table

costs, in and out, $10k−$4,84148.410% of the position

Long on gTrade (Gains Network)Short on SunX

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.025%+$2 on $10k

Price spread, last 4 days (all we have)+0.699%+$70 · spread now +0.074%, 7d avg +0.190%

Together, before fees+0.724%+$72 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.116% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread +0.074% now, against its 7-day average of +0.190%). If the spread goes back, that is −$12 on $10k: about 5.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.5902	L +0.0033% / S −0.0032%	pay 0.0004% / 1h	45m 01s	$234K	—	150x
Short	SunX PONS-USDT	0.5906	0.0100	get 0.0050% / 4h	45m 01s	—	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.074%Rate

Funding earned: $14.1
Price spread: +0.074% → +0.190%: −$11.62
Slippage, 4 orders: −$4,820.96
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$4,838.48
Costs to cover: 48.410%
Break-even: 2409.5 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 14 min ago; SunX: 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	130.00 bp	2119.7 bp −$2,120	16867.9 bp −$168.7K	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	105.66 bp	125.8 bp −$126	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 −0.0032%	1h	0.5902	long leg	$234K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.152%	$614	$10K	5.5x	as long as short
Lighter PONS	+0.0096%	1h	0.5908	+0.108%	$1.6M	$882K	3x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5907	+0.098%	$405K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5910	+0.144%	$21K	$434K	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5908	+0.110%	$5.2M	$6.2M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5915	+0.227%	$34K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5915	+0.220%	$2K	$3K	10x	as long as short
SunX PONS-USDTshort	+0.0100%	4h	0.5906	+0.074%	—	$1.3M	10x
SoDEX PONS-USD	+0.0100%	1h	0.5906	+0.081%	$25K	$524K	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	0.5916	+0.242%	$64K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5911	+0.161%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0196%	4h	0.5907	+0.091%	$1.4M	$3.9M	—	as long as short
Nado PONS-PERP	+0.0205%	1h	0.5908	+0.103%	$69K	$129K	5x	as long as short
Aevo PONS-PERP	+0.0216%	1h	0.5913	+0.199%	$368	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0313%	4h	0.5905	+0.059%	$13.4M	$53.9M	20x	as long as short
Aster PONSUSDT	+0.0376%	4h	0.5904	+0.039%	$1.1M	$2.1M	20x	as long as short
Bybit PONSUSDT	+0.0434%	4h	0.5905	+0.059%	$17.6M	$30.7M	20x	as long as short
Bitget PONSUSDT	+0.0438%	4h	0.5908	+0.111%	$4.6M	$11.5M	20x	as long as short
BingX PONS-USDT	+0.0498%	4h	0.5911	+0.161%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0520%	1h	0.5908	+0.117%	$105K	$808K	5x	as long as short
Binance PONSUSDT	+0.0523%	4h	0.5908	+0.110%	$38.8M	$94.8M	20x	as long as short
MEXC PONS_USDT	+0.0524%	4h	0.5909	+0.127%	$7.5M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0527%	4h	0.5904	+0.049%	$18K	$294K	10x	as long as short
KuCoin PONSUSDTM	+0.0562%	4h	0.5910	+0.137%	$1.6M	$3.7M	20x	as long as short
Hyperliquid PONS	+0.0696%	1h	0.5908	+0.105%	$60.1M	$27.8M	3x	as long as short
BloFin PONS-USDT	+0.0763%	4h	0.5917	+0.262%	$1.7M	$948K	20x	as long as short
Polymarket Perps PONS-USD	+0.0855%	1h	0.5909	+0.128%	$65K	$1.6M	3x	as long as short
Pacifica PONS	+0.0859%	1h	0.5908	+0.109%	$47K	$67K	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.5911	+0.157%	$31K	$104K	3x	as long as short