Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0585%/8h= +64.1% APRpaid last 24h +0.118%

Price spread now: MEXC against gTrade (Gains Network)+0.195%7-day average +0.148% · 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−$4,594as in the Price arb table

costs, in and out, $10k−$4,59945.987% of the position

Long on gTrade (Gains Network)Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.162%+$16 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.195%, 7d avg +0.148%

Together, before fees+0.186%+$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and MEXC is 0.047% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.148%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.5926	L +0.0033% / S −0.0032%	pay 0.0004% / 1h	47m 27s	$235K	—	150x
Short	MEXC PONS_USDT	0.5938	0.0618	get 0.0309% / 4h	2h 47m	$7.6M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee MEXCbpOrdersPrice spread, now +0.195%Rate

Funding earned: $122.88
Price spread: +0.195% → +0.148%: $4.72
Slippage, 4 orders: −$4,586.73
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$4,471.14
Costs to cover: 45.987%
Break-even: 261.7 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 2 min ago; MEXC: live order book, 5 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 gTrade (Gains Network) virtual book (oracle venue), 2 min ago	130.01 bp	2119.4 bp −$2,119	16868.4 bp −$168.7K	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.84 bp	5.2 bp −$5	13.8 bp −$138	380.0 bp −$38.0K	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/USDlong	L +0.0033% / S −0.0032%	1h	0.5926	long leg	$235K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.726%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5937	+0.173%	$415K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5937	+0.178%	$21K	$417K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5940	+0.226%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5933	+0.114%	$34K	$335K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5945	+0.320%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5943	+0.278%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5940	+0.230%	$26K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5955	+0.478%	$65K	$513K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.5945	+0.313%	$1.6M	$3.2M	20x	as long as short
Gate PONS_USDT	+0.0108%	4h	0.5934	+0.127%	$5.2M	$6.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5940	+0.229%	$370	—	3x	as long as short
Hyperliquid PONS	+0.0290%	1h	0.5934	+0.134%	$60.1M	$29.0M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0382%	4h	0.5936	+0.161%	$13.5M	$54.8M	20x	as long as short
Aster PONSUSDT	+0.0501%	4h	0.5938	+0.191%	$1.1M	$2.2M	20x	as long as short
Variational Omni PONS	+0.0529%	4h	0.5941	+0.245%	$1.4M	$4.1M	—	as long as short
Bitget PONSUSDT	+0.0556%	4h	0.5937	+0.171%	$4.7M	$11.8M	20x	as long as short
Extended PONS-USD	+0.0616%	1h	0.5937	+0.184%	$106K	$807K	5x	as long as short
MEXC PONS_USDTshort	+0.0618%	4h	0.5938	+0.195%	$7.6M	$4.7M	20x
Binance PONSUSDT	+0.0622%	4h	0.5938	+0.187%	$38.8M	$94.7M	20x	as long as short
edgeX PONSUSDC	+0.0632%	4h	0.5942	+0.266%	$20K	$296K	10x	as long as short
Pacifica PONS	+0.0715%	1h	0.5937	+0.171%	$46K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0734%	4h	0.5936	+0.159%	$1.6M	$3.8M	20x	as long as short
Lighter PONS	+0.0784%	1h	0.5942	+0.261%	$1.6M	$886K	3x	as long as short
BingX PONS-USDT	+0.0796%	4h	0.5939	+0.212%	—	$3.0M	—	as long as short
Polymarket Perps PONS-USD	+0.0812%	1h	0.5937	+0.176%	$88K	$1.7M	3x	as long as short
Bybit PONSUSDT	+0.0831%	4h	0.5936	+0.161%	$17.8M	$31.0M	20x	as long as short
BloFin PONS-USDT	+0.0860%	4h	0.5942	+0.262%	$1.6M	$946K	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5940	+0.235%	$45K	$121K	3x	as long as short