Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0562%/8h= −61.5% APRpaid last 24h −0.118%

Price spread now: gTrade (Gains Network) against MEXC−0.108%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−$4,597as in the Price arb table

costs, in and out, $10k−$4,60146.007% of the position

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.157%−$16 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now −0.108%, 7d avg −0.149%

Together, before fees−0.268%−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.041% dearer against MEXC than usual: you sell high and buy low (spread −0.108% now, against its 7-day average of −0.149%): +$4 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PONS_USDT	0.6135	0.0592	pay 0.0296% / 4h	4m 56s	$7.8M	$4.8M	20x
Short	gTrade (Gains Network) PONS/USD	0.6128	L +0.0032% / S −0.0030%	get 0.0004% / 1h	4m 56s	$240K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against MEXC. 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 MEXCbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.108%Rate

Funding earned: −$117.92
Price spread: −0.108% → −0.149%: $4.12
Slippage, 4 orders: −$4,588.65
Fee MEXC: 0 bp × 2 orders: $0
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,714.45
Costs to cover: 46.007%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 34 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 MEXC live order book, 3 min ago	1.63 bp	6.3 bp −$6	18.9 bp −$189	437.7 bp −$43.8K	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 34 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 −0.0030%	1h	0.6128	−0.108%	$240K	—	150x
Popdex PONSUSDT	+0.0096%	1h	0.6139	+0.065%	$23K	$456K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6136	+0.017%	$72K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6158	+0.375%	$30K	$299K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6142	+0.111%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6134	−0.010%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6133	−0.024%	$26K	$639K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6147	+0.194%	$66K	$536K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6137	+0.033%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6138	+0.049%	$382	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PONS_USDT	+0.0380%	4h	0.6139	+0.065%	$5.5M	$6.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0401%	4h	0.6145	+0.163%	$13.9M	$60.6M	20x	as long as short
Aster PONSUSDT	+0.0446%	4h	0.6132	−0.049%	$1.1M	$2.3M	20x	as long as short
Lighter RH PONS	+0.0448%	1h	0.6138	+0.049%	$426K	$2.7M	3x	as long as short
Variational Omni PONS	+0.0488%	4h	0.6153	+0.296%	$1.5M	$4.2M	—	as long as short
KuCoin PONSUSDTM	+0.0492%	4h	0.6136	+0.018%	$1.6M	$4.1M	20x	as long as short
Lighter PONS	+0.0504%	1h	0.6138	+0.049%	$1.7M	$859K	3x	as long as short
Hyperliquid PONS	+0.0519%	1h	0.6132	−0.051%	$62.6M	$30.5M	3x	as long as short
Pacifica PONS	+0.0572%	1h	0.6137	+0.036%	$46K	$77K	3x	as long as short
Extended PONS-USD	+0.0592%	1h	0.6134	−0.019%	$103K	$827K	5x	as long as short
MEXC PONS_USDTlong	+0.0592%	4h	0.6135	long leg	$7.8M	$4.8M	20x
Binance PONSUSDT	+0.0594%	4h	0.6135	+0.008%	$39.9M	$105.2M	20x	as long as short
edgeX PONSUSDC	+0.0605%	4h	0.6157	+0.362%	$20K	$291K	10x	as long as short
BingX PONS-USDT	+0.0660%	4h	0.6140	+0.081%	—	$3.2M	—	as long as short
Bybit PONSUSDT	+0.0663%	4h	0.6140	+0.081%	$18.4M	$33.1M	20x	as long as short
Bitget PONSUSDT	+0.0690%	4h	0.6137	+0.036%	$4.9M	$13.0M	20x	as long as short
BloFin PONS-USDT	+0.0834%	4h	0.6140	+0.081%	$1.7M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0987%	1h	0.6136	+0.020%	$72K	$2.3M	3x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−3.203%	$610	$10K	5.5x	as long as short
Phoenix PONS	+0.1405%	1h	0.6166	+0.500%	$47K	$127K	3x	as long as short