Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0672%/8h= +73.6% APRpaid last 24h +0.115%

Price spread now: Gate against Popdex+0.033%7-day average −0.067% · 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−$236as in the Price arb table

costs, in and out, $10k−$2462.456% of the position

Long on Popdex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.474%+$47 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.033%, 7d avg −0.067%

Together, before fees+0.410%+$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Gate is 0.100% dearer against Popdex than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex PONSUSDT	0.6020	0.0096	pay 0.0012% / 1h	46m 43s	$19K	$422K	20x
Short	Gate PONS_USDT	0.6022	0.0768	get 0.0384% / 4h	2h 46m	$5.3M	$6.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Popdex. 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 PopdexbpFee GatebpOrdersPrice spread, now +0.033%Rate

Funding earned: $141.12
Price spread: +0.033% → −0.067%: $10.02
Slippage, 4 orders: −$224.21
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$94.48
Costs to cover: 2.456%
Break-even: 11.7 days

Slippage from Popdex: live order book, 22 min ago; Gate: live order book, 2 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 Popdex live order book, 22 min ago	6.52 bp	96.3 bp −$96	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	3.32 bp	13.7 bp −$14	72.6 bp −$726	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 +0.0033% / S −0.0033%	1h	0.6014	−0.098%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.839%	$614	$10K	5.5x	as long as short
Popdex PONSUSDTlong	+0.0096%	1h	0.6020	long leg	$19K	$422K	20x
Variational Omni PONS	+0.0100%	4h	0.6048	+0.458%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6065	+0.741%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6022	+0.042%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6023	+0.047%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6022	+0.032%	$26K	$530K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6038	+0.299%	$64K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6018	−0.033%	$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	+0.0184%	1h	0.6021	+0.017%	$375	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0213%	4h	0.6018	−0.033%	$13.8M	$55.5M	20x	as long as short
KuCoin PONSUSDTM	+0.0218%	4h	0.6021	+0.012%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0290%	4h	0.6022	+0.027%	$4.7M	$11.3M	20x	as long as short
Bybit PONSUSDT	+0.0294%	4h	0.6018	−0.033%	$18.1M	$30.8M	20x	as long as short
Lighter PONS	+0.0328%	1h	0.6022	+0.032%	$1.7M	$883K	3x	as long as short
Aster PONSUSDT	+0.0333%	4h	0.6020	+0.003%	$1.1M	$2.0M	20x	as long as short
Lighter RH PONS	+0.0336%	1h	0.6022	+0.033%	$420K	$2.5M	3x	as long as short
Nado PONS-PERP	+0.0350%	1h	0.6023	+0.043%	$71K	$132K	5x	as long as short
BingX PONS-USDT	+0.0386%	4h	0.6020	0.000%	—	$3.0M	—	as long as short
Binance PONSUSDT	+0.0394%	4h	0.6020	+0.005%	$39.5M	$95.9M	20x	as long as short
MEXC PONS_USDT	+0.0404%	4h	0.6021	+0.017%	$7.8M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0408%	1h	0.6018	−0.028%	$249K	$682K	5x	as long as short
edgeX PONSUSDC	+0.0416%	4h	0.6065	+0.751%	$21K	$293K	10x	as long as short
BloFin PONS-USDT	+0.0646%	4h	0.6065	+0.748%	$1.8M	$984K	20x	as long as short
Hyperliquid PONS	+0.0705%	1h	0.6024	+0.068%	$61.3M	$28.7M	3x	as long as short
Gate PONS_USDTshort	+0.0768%	4h	0.6022	+0.033%	$5.3M	$6.1M	20x
Polymarket Perps PONS-USD	+0.0779%	1h	0.6022	+0.030%	$46K	$1.6M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6021	+0.022%	$47K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6064	+0.731%	$31K	$107K	3x	as long as short