Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0261%/8h= −28.6% APRpaid last 24h −0.104%

Price spread now: gTrade (Gains Network) against Bitget−0.127%7-day average −0.177% · 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−$4,626as in the Price arb table

costs, in and out, $10k−$4,63146.314% of the position

Long on Bitget Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.144%−$14 on $10k

Price spread, last 3 days (all we have)−0.123%−$12 · spread now −0.127%, 7d avg −0.177%

Together, before fees−0.266%−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.049% dearer against Bitget than usual: you sell high and buy low (spread −0.127% now, against its 7-day average of −0.177%): +$5 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PONSUSDT	0.6056	0.0294	pay 0.0147% / 4h	2h 43m	$4.7M	$11.3M	20x
Short	gTrade (Gains Network) PONS/USD	0.6048	L +0.0033% / S −0.0033%	get 0.0004% / 1h	43m 13s	$240K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bitget. 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 BitgetbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.127%Rate

Funding earned: −$54.89
Price spread: −0.127% → −0.177%: $4.93
Slippage, 4 orders: −$4,607.41
Fee Bitget: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,681.37
Costs to cover: 46.314%
Break-even: never at this rate

Slippage from Bitget: live order book, just now; gTrade (Gains Network): virtual book (oracle venue), 26 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 Bitget live order book, just now	3.63 bp	20.1 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 26 min ago	130.01 bp	2471.0 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	0.6048	−0.127%	$240K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.432%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6057	+0.013%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6019	−0.613%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6030	−0.439%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6061	+0.084%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6061	+0.078%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6057	+0.010%	$26K	$529K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6068	+0.193%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6055	−0.020%	$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
Aevo PONS-PERP	+0.0176%	1h	0.6056	−0.010%	$377	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0206%	4h	0.6045	−0.185%	$13.9M	$55.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0218%	4h	0.6055	−0.023%	$1.7M	$3.7M	20x	as long as short
Bybit PONSUSDT	+0.0252%	4h	0.6056	−0.003%	$18.2M	$30.8M	20x	as long as short
Bitget PONSUSDTlong	+0.0294%	4h	0.6056	long leg	$4.7M	$11.3M	20x
Nado PONS-PERP	+0.0300%	1h	0.6058	+0.030%	$71K	$132K	5x	as long as short
Lighter RH PONS	+0.0304%	1h	0.6058	+0.021%	$423K	$2.5M	3x	as long as short
Aster PONSUSDT	+0.0332%	4h	0.6049	−0.114%	$1.1M	$2.0M	20x	as long as short
Lighter PONS	+0.0368%	1h	0.6057	+0.015%	$1.7M	$883K	3x	as long as short
MEXC PONS_USDT	+0.0390%	4h	0.6060	+0.063%	$7.8M	$4.7M	20x	as long as short
BingX PONS-USDT	+0.0390%	4h	0.6059	+0.046%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0400%	1h	0.6055	−0.012%	$250K	$682K	5x	as long as short
Binance PONSUSDT	+0.0402%	4h	0.6059	+0.046%	$39.7M	$95.8M	20x	as long as short
edgeX PONSUSDC	+0.0411%	4h	0.6023	−0.547%	$21K	$293K	10x	as long as short
BloFin PONS-USDT	+0.0646%	4h	0.6065	+0.145%	$1.8M	$984K	20x	as long as short
Gate PONS_USDT	+0.0688%	4h	0.6045	−0.185%	$5.3M	$6.1M	20x	as long as short
Hyperliquid PONS	+0.0730%	1h	0.6061	+0.086%	$61.7M	$28.7M	3x	as long as short
Polymarket Perps PONS-USD	+0.0798%	1h	0.6058	+0.038%	$46K	$1.6M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6059	+0.051%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6022	−0.571%	$31K	$107K	3x	as long as short