Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0565%/8h= −61.8% APRpaid last 24h −0.117%

Price spread now: gTrade (Gains Network) against Binance−0.325%7-day average −0.149% · 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−$4,637as in the Price arb table

costs, in and out, $10k−$4,61946.194% of the position

Long on Binance Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.156%−$16 on $10k

Price spread, last 4 days (all we have)+0.095%+$10 · spread now −0.325%, 7d avg −0.149%

Together, before fees−0.061%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and gTrade (Gains Network) is 0.175% cheaper against Binance than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.149%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PONSUSDT	0.6186	0.0594	pay 0.0297% / 4h	17m 02s	$40.1M	$105.1M	20x
Short	gTrade (Gains Network) PONS/USD	0.6166	L +0.0032% / S −0.0029%	get 0.0004% / 1h	17m 02s	$234K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Binance. 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 BinancebpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.325%Rate

Funding earned: −$118.61
Price spread: −0.325% → −0.149%: −$17.53
Slippage, 4 orders: −$4,597.45
Fee Binance: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,755.58
Costs to cover: 46.194%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; gTrade (Gains Network): virtual book (oracle venue), 22 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 Binance live order book, 11 min ago	0.81 bp	16.1 bp −$16	45.1 bp −$451	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 22 min ago	130.01 bp	2471.2 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 +0.0032% / S −0.0029%	1h	0.6166	−0.325%	$234K	—	150x
Popdex PONSUSDT	+0.0096%	1h	0.6179	−0.113%	$22K	$455K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6178	−0.131%	$72K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6153	−0.533%	$30K	$300K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6184	−0.039%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6171	−0.238%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6181	−0.081%	$26K	$639K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6177	−0.149%	$67K	$536K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6173	−0.210%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.6178	−0.131%	$385	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PONS-USDT-SWAP	+0.0415%	4h	0.6184	−0.032%	$14.0M	$60.9M	20x	as long as short
Gate PONS_USDT	+0.0452%	4h	0.6167	−0.307%	$5.5M	$6.6M	20x	as long as short
Aster PONSUSDT	+0.0481%	4h	0.6170	−0.251%	$1.1M	$2.4M	20x	as long as short
Lighter RH PONS	+0.0488%	1h	0.6183	−0.053%	$417K	$2.7M	3x	as long as short
Variational Omni PONS	+0.0490%	4h	0.6128	−0.939%	$1.5M	$4.2M	—	as long as short
Lighter PONS	+0.0536%	1h	0.6181	−0.087%	$1.7M	$855K	3x	as long as short
KuCoin PONSUSDTM	+0.0536%	4h	0.6179	−0.120%	$1.6M	$4.0M	20x	as long as short
Pacifica PONS	+0.0572%	1h	0.6179	−0.113%	$46K	$77K	3x	as long as short
MEXC PONS_USDT	+0.0586%	4h	0.6183	−0.048%	$7.8M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0592%	1h	0.6180	−0.094%	$103K	$828K	5x	as long as short
edgeX PONSUSDC	+0.0592%	4h	0.6150	−0.579%	$20K	$292K	10x	as long as short
Binance PONSUSDTlong	+0.0594%	4h	0.6186	long leg	$40.1M	$105.1M	20x
Hyperliquid PONS	+0.0620%	1h	0.6180	−0.094%	$62.8M	$30.4M	3x	as long as short
Bybit PONSUSDT	+0.0650%	4h	0.6182	−0.065%	$18.5M	$33.0M	20x	as long as short
BingX PONS-USDT	+0.0666%	4h	0.6182	−0.065%	—	$3.2M	—	as long as short
Bitget PONSUSDT	+0.0704%	4h	0.6182	−0.061%	$4.9M	$13.0M	20x	as long as short
BloFin PONS-USDT	+0.0834%	4h	0.6180	−0.097%	$1.8M	$1.1M	20x	as long as short
Polymarket Perps PONS-USD	+0.1035%	1h	0.6178	−0.136%	$73K	$2.3M	3x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−4.001%	$610	$10K	5.5x	as long as short
Phoenix PONS	+0.1405%	1h	0.6159	−0.441%	$47K	$127K	3x	as long as short