Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.094%

Price spread now: Gate against SoDEX+0.123%7-day average −0.059% · 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−$159as in the Price arb table

costs, in and out, $10k−$1771.769% of the position

Long on SoDEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.329%+$33 on $10k

Price spread, last 3 days (all we have)−0.578%−$58 · spread now +0.123%, 7d avg −0.059%

Together, before fees−0.249%−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Gate is 0.181% dearer against SoDEX than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PONS-USD	0.5866	0.0100	pay 0.0013% / 1h	35m 33s	$27K	$549K	3x
Short	Gate PONS_USDT	0.5873	0.0148	get 0.0074% / 4h	2h 35m	$5.1M	$6.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SoDEX. 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 SoDEXbpFee GatebpOrdersPrice spread, now +0.123%Rate

Funding earned: $10.08
Price spread: +0.123% → −0.059%: $18.14
Slippage, 4 orders: −$153.89
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$148.67
Costs to cover: 1.769%
Break-even: 110.2 days

Slippage from SoDEX: live order book, 53 min ago; Gate: live order book, 3 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 SoDEX live order book, 53 min ago	1.01 bp	62.8 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	1.71 bp	30.9 bp −$31	81.1 bp −$811	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/USD	L +0.0032% / S −0.0034%	1h	0.5856	−0.159%	$215K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.917%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5896	+0.515%	$21K	$447K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5894	+0.481%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5898	+0.549%	$13.4M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5891	+0.424%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5897	+0.540%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5819	−0.806%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5866	+0.005%	$34K	$330K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5873	+0.114%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5870	+0.065%	—	$1.4M	10x	as long as short
SoDEX PONS-USDlong	+0.0100%	1h	0.5866	long leg	$27K	$549K	3x
HTX PONS-USDT	+0.0100%	4h	0.5863	−0.051%	$63K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5866	+0.003%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5867	+0.029%	$366	—	3x	as long as short
Nado PONS-PERP	+0.0148%	1h	0.5895	+0.498%	$89K	$103K	5x	as long as short
Gate PONS_USDTshort	+0.0148%	4h	0.5873	+0.123%	$5.1M	$6.8M	20x
BingX PONS-USDT	+0.0154%	4h	0.5894	+0.481%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0160%	1h	0.5888	+0.376%	$105K	$533K	5x	as long as short
MEXC PONS_USDT	+0.0160%	4h	0.5885	+0.327%	$7.5M	$5.2M	20x	as long as short
edgeX PONSUSDC	+0.0163%	4h	0.5834	−0.551%	$20K	$292K	10x	as long as short
Binance PONSUSDT	+0.0169%	4h	0.5895	+0.504%	$38.3M	$98.3M	20x	as long as short
Aster PONSUSDT	+0.0197%	4h	0.5885	+0.326%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0338%	1h	0.5897	+0.530%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0396%	4h	0.5860	−0.099%	$1.7M	$961K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5887	+0.368%	$47K	$103K	3x	as long as short
Lighter RH PONS	+0.0504%	1h	0.5880	+0.242%	$392K	$2.6M	3x	as long as short
Hyperliquid PONS	+0.0557%	1h	0.5884	+0.307%	$58.8M	$29.9M	3x	as long as short
Lighter PONS	+0.1056%	1h	0.5883	+0.292%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5836	−0.501%	$27K	$86K	3x	as long as short