Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0322%/8h= −35.2% APRpaid last 24h −0.046%

Price spread now: gTrade (Gains Network) against OKX−0.079%7-day average −0.118% · 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−$4,613as in the Price arb table

costs, in and out, $10k−$4,61746.166% of the position

Long on OKX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.092%−$9 on $10k

Price spread, last 4 days (all we have)−0.131%−$13 · spread now −0.079%, 7d avg −0.118%

Together, before fees−0.222%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.039% dearer against OKX than usual: you sell high and buy low (spread −0.079% now, against its 7-day average of −0.118%): +$4 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PONS-USDT-SWAP	0.6039	0.0354	pay 0.0177% / 4h	3h 30m	$13.7M	$55.3M	20x
Short	gTrade (Gains Network) PONS/USD	0.6034	L +0.0033% / S −0.0032%	get 0.0004% / 1h	30m 39s	$240K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against OKX. 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 OKXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.079%Rate

Funding earned: −$67.54
Price spread: −0.079% → −0.118%: $3.94
Slippage, 4 orders: −$4,594.56
Fee OKX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,680.15
Costs to cover: 46.166%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 23 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 OKX live order book, 3 min ago	0.83 bp	12.2 bp −$12	24.5 bp −$245	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 23 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 −0.0032%	1h	0.6034	−0.079%	$240K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.151%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6040	+0.017%	$21K	$416K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6040	+0.010%	$71K	$129K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6027	−0.205%	$35K	$342K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6045	+0.091%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6041	+0.036%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6047	+0.124%	$26K	$531K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6041	+0.038%	$65K	$513K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6045	+0.099%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0208%	1h	0.6044	+0.086%	$413K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6038	−0.018%	$376	—	3x	as long as short
OKX PONS-USDT-SWAPlong	+0.0354%	4h	0.6039	long leg	$13.7M	$55.3M	20x
Variational Omni PONS	+0.0427%	4h	0.6045	+0.107%	$1.5M	$3.9M	—	as long as short
Hyperliquid PONS	+0.0491%	1h	0.6041	+0.036%	$61.8M	$28.0M	3x	as long as short
Aster PONSUSDT	+0.0518%	4h	0.6046	+0.108%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0530%	4h	0.6043	+0.063%	$4.6M	$11.5M	20x	as long as short
Lighter PONS	+0.0560%	1h	0.6045	+0.091%	$1.7M	$892K	3x	as long as short
edgeX PONSUSDC	+0.0624%	4h	0.6038	−0.017%	$18K	$294K	10x	as long as short
MEXC PONS_USDT	+0.0628%	4h	0.6045	+0.099%	$7.7M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0632%	1h	0.6039	+0.004%	$108K	$808K	5x	as long as short
Binance PONSUSDT	+0.0633%	4h	0.6043	+0.066%	$39.5M	$94.3M	20x	as long as short
Polymarket Perps PONS-USD	+0.0690%	1h	0.6042	+0.048%	$72K	$1.6M	3x	as long as short
KuCoin PONSUSDTM	+0.0742%	4h	0.6043	+0.068%	$1.6M	$3.8M	20x	as long as short
Gate PONS_USDT	+0.0828%	4h	0.6036	−0.050%	$5.3M	$6.2M	20x	as long as short
BloFin PONS-USDT	+0.0868%	4h	0.6048	+0.149%	$1.7M	$969K	20x	as long as short
BingX PONS-USDT	+0.0944%	4h	0.6040	+0.017%	—	$2.9M	—	as long as short
Pacifica PONS	+0.1081%	1h	0.6041	+0.032%	$48K	$67K	3x	as long as short
Bybit PONSUSDT	+0.1101%	4h	0.6040	+0.017%	$18.1M	$30.6M	20x	as long as short
Phoenix PONS	+0.1586%	1h	0.6028	−0.174%	$46K	$109K	3x	as long as short