PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0915%/8h= −100.2% APRnext payment −$1.14 per $10,000 · paid last 24h −0.183%

Price spread now: gTrade (Gains Network) against Hyperliquid−0.240%7-day average −0.158% · 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−$4,624as in the Price arb table

costs, in and out, $10k−$4,61646.160% of the position

Long on Hyperliquid Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.238%−$24 on $10k

Price spread, last 3 days (all we have)+0.168%+$17 · spread now −0.240%, 7d avg −0.158%

Together, before fees−0.069%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and gTrade (Gains Network) is 0.082% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.158%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PONS	0.6080	0.0947	pay 0.0118% / 1h	43m 02s	$61.8M	$29.8M	3x
Short	gTrade (Gains Network) PONS/USD	0.6066	L +0.0033% / S −0.0033%	get 0.0004% / 1h	43m 02s	$240K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Hyperliquid. 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 HyperliquidbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.240%Rate

Funding earned: −$192.08
Price spread: −0.240% → −0.158%: −$8.18
Slippage, 4 orders: −$4,594.95
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,816.21
Costs to cover: 46.160%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; gTrade (Gains Network): virtual book (oracle venue), 31 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 Hyperliquid live order book, 11 min ago	1.24 bp	13.0 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 31 min ago	130.01 bp	2471.1 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 +0.0033% / S −0.0033%	1h	0.6066	−0.240%	$240K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.824%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6078	−0.038%	$431K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6074	−0.106%	$20K	$415K	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.6072	−0.138%	$5.3M	$6.1M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6070	−0.179%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6068	−0.199%	$33K	$357K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6082	+0.033%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6077	−0.064%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6082	+0.034%	$28K	$553K	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	0.6094	+0.222%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6086	+0.092%	$1.7M	$3.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0103%	4h	0.6077	−0.056%	$13.8M	$57.4M	20x	as long as short
Aevo PONS-PERP	+0.0160%	1h	0.6078	−0.048%	$379	—	3x	as long as short
KuCoin PONSUSDTM	+0.0168%	4h	0.6074	−0.107%	$1.8M	$3.8M	20x	as long as short
Aster PONSUSDT	+0.0200%	4h	0.6068	−0.202%	$1.1M	$2.2M	20x	as long as short
Bitget PONSUSDT	+0.0202%	4h	0.6082	+0.029%	$4.7M	$11.6M	20x	as long as short
MEXC PONS_USDT	+0.0326%	4h	0.6083	+0.042%	$7.9M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0328%	4h	0.6080	−0.007%	$39.8M	$97.6M	20x	as long as short
Extended PONS-USD	+0.0328%	1h	0.6079	−0.017%	$250K	$683K	5x	as long as short
edgeX PONSUSDC	+0.0333%	4h	0.6067	−0.215%	$21K	$294K	10x	as long as short
Lighter PONS	+0.0472%	1h	0.6079	−0.025%	$1.7M	$896K	3x	as long as short
BingX PONS-USDT	+0.0562%	4h	0.6078	−0.040%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0563%	1h	0.6072	−0.145%	$105K	$116K	5x	as long as short
BloFin PONS-USDT	+0.0568%	4h	0.6081	+0.010%	$1.7M	$1.0M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6071	−0.159%	$48K	$87K	3x	as long as short
Polymarket Perps PONS-USD	+0.0799%	1h	0.6074	−0.101%	$42K	$1.6M	3x	as long as short
Bybit PONSUSDT	+0.0803%	4h	0.6075	−0.089%	$18.2M	$31.1M	20x	as long as short
Hyperliquid PONSlong	+0.0947%	1h	0.6080	long leg	$61.8M	$29.8M	3x
Phoenix PONS	+0.1608%	1h	0.6060	−0.342%	$31K	$113K	3x	as long as short