Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0199%/8h= −21.8% APRpaid last 24h −0.084%

Price spread now: gTrade (Gains Network) against KuCoin−0.005%7-day average −0.124% · 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−$4,640as in the Price arb table

costs, in and out, $10k−$4,65246.519% of the position

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.116%−$12 on $10k

Price spread, last 3 days (all we have)−0.223%−$22 · spread now −0.005%, 7d avg −0.124%

Together, before fees−0.339%−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.119% dearer against KuCoin than usual: you sell high and buy low (spread −0.005% now, against its 7-day average of −0.124%): +$12 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 48 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PONSUSDTM	0.6063	0.0232	pay 0.0116% / 4h	2h 20m	$1.7M	$3.6M	20x
Short	gTrade (Gains Network) PONS/USD	0.6062	L +0.0033% / S −0.0033%	get 0.0004% / 1h	20m 37s	$240K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against KuCoin. 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 KuCoinbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.005%Rate

Funding earned: −$41.87
Price spread: −0.005% → −0.124%: $11.92
Slippage, 4 orders: −$4,627.89
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,681.84
Costs to cover: 46.519%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; gTrade (Gains Network): virtual book (oracle venue), 48 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 KuCoin live order book, 2 min ago	3.21 bp	28.2 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 48 min ago	130.01 bp	2471.0 bp −$2,471	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/USDshort	L +0.0033% / S −0.0033%	1h	0.6062	−0.005%	$240K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.537%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6074	+0.186%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6066	+0.061%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6063	+0.008%	$33K	$354K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6076	+0.213%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6071	+0.145%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6069	+0.107%	$26K	$518K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6085	+0.368%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6061	−0.028%	$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
Aevo PONS-PERP	+0.0184%	1h	0.6071	+0.145%	$378	—	3x	as long as short
Lighter RH PONS	+0.0192%	1h	0.6061	−0.030%	$427K	$2.5M	3x	as long as short
Nado PONS-PERP	+0.0216%	1h	0.6072	+0.156%	$71K	$131K	5x	as long as short
KuCoin PONSUSDTMlong	+0.0232%	4h	0.6063	long leg	$1.7M	$3.6M	20x
OKX PONS-USDT-SWAP	+0.0241%	4h	0.6057	−0.094%	$13.9M	$55.2M	20x	as long as short
Lighter PONS	+0.0272%	1h	0.6064	+0.021%	$1.7M	$885K	3x	as long as short
Bybit PONSUSDT	+0.0296%	4h	0.6056	−0.111%	$18.2M	$30.5M	20x	as long as short
Bitget PONSUSDT	+0.0320%	4h	0.6060	−0.046%	$4.7M	$11.3M	20x	as long as short
BingX PONS-USDT	+0.0388%	4h	0.6059	−0.061%	—	$3.0M	—	as long as short
Aster PONSUSDT	+0.0407%	4h	0.6072	+0.161%	$1.1M	$2.0M	20x	as long as short
MEXC PONS_USDT	+0.0422%	4h	0.6060	−0.045%	$7.8M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0424%	1h	0.6058	−0.081%	$250K	$672K	5x	as long as short
Binance PONSUSDT	+0.0426%	4h	0.6060	−0.045%	$39.7M	$94.7M	20x	as long as short
edgeX PONSUSDC	+0.0428%	4h	0.6064	+0.018%	$21K	$292K	10x	as long as short
Gate PONS_USDT	+0.0592%	4h	0.6054	−0.144%	$5.3M	$6.1M	20x	as long as short
Hyperliquid PONS	+0.0681%	1h	0.6064	+0.015%	$61.8M	$28.0M	3x	as long as short
Polymarket Perps PONS-USD	+0.0749%	1h	0.6073	+0.163%	$46K	$1.5M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6062	−0.005%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6073	+0.170%	$31K	$107K	3x	as long as short