Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0390%/8h= −42.7% APRpaid last 24h −0.112%

Price spread now: gTrade (Gains Network) against Gate+0.158%7-day average −0.091% · 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−$4,614as in the Price arb table

costs, in and out, $10k−$4,63946.393% of the position

Long on Gate Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.112%−$11 on $10k

Price spread, last 3 days (all we have)−0.270%−$27 · spread now +0.158%, 7d avg −0.091%

Together, before fees−0.382%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.249% dearer against Gate than usual: you sell high and buy low (spread +0.158% now, against its 7-day average of −0.091%): +$25 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PONS_USDT	0.5882	0.0424	pay 0.0212% / 4h	2h 49m	$5.1M	$6.7M	20x
Short	gTrade (Gains Network) PONS/USD	0.5891	L +0.0032% / S −0.0034%	get 0.0004% / 1h	49m 42s	$216K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Gate. 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 GatebpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.158%Rate

Funding earned: −$81.93
Price spread: +0.158% → −0.091%: $24.91
Slippage, 4 orders: −$4,612.31
Fee Gate: 7.5 bp × 2 orders: −$15
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,696.34
Costs to cover: 46.393%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 39 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 Gate live order book, 4 min ago	4.23 bp	25.0 bp −$25	151.0 bp −$1,510	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 39 min ago	130.01 bp	2471.0 bp −$2,471	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/USDshort	L +0.0032% / S −0.0034%	1h	0.5891	+0.158%	$216K	—	150x
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.639%	$609	$6K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5893	+0.187%	$397K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5901	+0.323%	$21K	$456K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5874	−0.136%	$17.8M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5875	−0.119%	$13.5M	$55.6M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5882	0.000%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5883	+0.015%	$4.6M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5902	+0.332%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5919	+0.636%	$34K	$327K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5902	+0.343%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5900	+0.303%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5895	+0.224%	$27K	$534K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5916	+0.573%	$64K	$503K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5895	+0.221%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5898	+0.281%	$367	—	3x	as long as short
Binance PONSUSDT	+0.0164%	4h	0.5889	+0.112%	$38.4M	$98.1M	20x	as long as short
MEXC PONS_USDT	+0.0166%	4h	0.5882	0.000%	$7.6M	$5.1M	20x	as long as short
Extended PONS-USD	+0.0168%	1h	0.5886	+0.066%	$105K	$531K	5x	as long as short
BingX PONS-USDT	+0.0176%	4h	0.5883	+0.017%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0189%	4h	0.5914	+0.536%	$21K	$293K	10x	as long as short
Aster PONSUSDT	+0.0221%	4h	0.5896	+0.242%	$1.1M	$2.2M	20x	as long as short
Nado PONS-PERP	+0.0328%	1h	0.5899	+0.289%	$89K	$103K	5x	as long as short
Polymarket Perps PONS-USD	+0.0367%	1h	0.5901	+0.326%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0406%	4h	0.5911	+0.493%	$1.7M	$982K	20x	as long as short
Gate PONS_USDTlong	+0.0424%	4h	0.5882	long leg	$5.1M	$6.7M	20x
Pacifica PONS	+0.0474%	1h	0.5887	+0.088%	$47K	$102K	3x	as long as short
Hyperliquid PONS	+0.0700%	1h	0.5895	+0.216%	$59.0M	$29.6M	3x	as long as short
Lighter PONS	+0.0888%	1h	0.5890	+0.134%	$1.7M	$879K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5921	+0.660%	$27K	$86K	3x	as long as short