Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0430%/8h= −47.1% APRpaid last 24h −0.113%

Price spread now: SoDEX against Gate−0.052%7-day average +0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$175as in the Price arb table

costs, in and out, $10k−$1641.644% of the position

Long on Gate Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.427%−$43 on $10k

Price spread, last 3 days (all we have)+0.246%+$25 · spread now −0.052%, 7d avg +0.057%

Together, before fees−0.181%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and SoDEX is 0.109% cheaper against Gate than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.057%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PONS_USDT	0.6016	0.0530	pay 0.0265% / 4h	2h 29m	$5.3M	$6.1M	20x
Short	SoDEX PONS-USD	0.6013	0.0100	get 0.0013% / 1h	29m 00s	$26K	$518K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$90.3
Price spread: −0.052% → +0.057%: −$10.89
Slippage, 4 orders: −$141.41
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$265.61
Costs to cover: 1.644%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; SoDEX: live order book, 40 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	1.66 bp	20.9 bp −$21	172.6 bp −$1,726	doesn't fit	doesn't fit
Sell SoDEX live order book, 40 min ago	1.79 bp	60.5 bp −$61	doesn't fit	doesn't fit	doesn't fit

PONS on 29 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/USD	L +0.0033% / S −0.0033%	1h	0.6010	−0.092%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.773%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6026	+0.166%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6043	+0.442%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6038	+0.367%	$33K	$354K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6027	+0.180%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6028	+0.204%	—	$1.3M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6013	−0.052%	$26K	$518K	3x
HTX PONS-USDT	+0.0100%	4h	0.6034	+0.296%	$64K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6015	−0.017%	$1.7M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0144%	1h	0.6022	+0.098%	$424K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0184%	1h	0.6025	+0.142%	$375	—	3x	as long as short
KuCoin PONSUSDTM	+0.0210%	4h	0.6011	−0.076%	$1.7M	$3.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0220%	4h	0.6015	−0.017%	$13.8M	$54.9M	20x	as long as short
Bybit PONSUSDT	+0.0238%	4h	0.6012	−0.066%	$18.0M	$30.5M	20x	as long as short
Nado PONS-PERP	+0.0246%	1h	0.6031	+0.249%	$71K	$131K	5x	as long as short
Lighter PONS	+0.0272%	1h	0.6015	−0.017%	$1.7M	$884K	3x	as long as short
Bitget PONSUSDT	+0.0302%	4h	0.6010	−0.098%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0369%	4h	0.6030	+0.235%	$1.1M	$2.0M	20x	as long as short
BingX PONS-USDT	+0.0390%	4h	0.6016	0.000%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0408%	1h	0.6023	+0.121%	$249K	$674K	5x	as long as short
MEXC PONS_USDT	+0.0408%	4h	0.6012	−0.066%	$7.7M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0409%	4h	0.6015	−0.025%	$39.4M	$95.1M	20x	as long as short
edgeX PONSUSDC	+0.0414%	4h	0.6038	+0.370%	$21K	$294K	10x	as long as short
Gate PONS_USDTlong	+0.0530%	4h	0.6016	long leg	$5.3M	$6.1M	20x
Hyperliquid PONS	+0.0682%	1h	0.6014	−0.035%	$61.2M	$28.2M	3x	as long as short
Polymarket Perps PONS-USD	+0.0738%	1h	0.6027	+0.186%	$45K	$1.5M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6032	+0.260%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6041	+0.411%	$31K	$107K	3x	as long as short