Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0576%/8h= −63.0% APRpaid last 24h −0.121%

Price spread now: gTrade (Gains Network) against edgeX−0.085%7-day average −0.146% · 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−$4,63246.323% of the position

Long on edgeX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.161%−$16 on $10k

Price spread, last 4 days (all we have)−0.131%−$13 · spread now −0.085%, 7d avg −0.146%

Together, before fees−0.292%+ Points / potential airdropedgeX: Active · farm board−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.061% dearer against edgeX than usual: you sell high and buy low (spread −0.085% now, against its 7-day average of −0.146%): +$6 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX PONSUSDC	0.6181	0.0604	pay 0.0302% / 4h	15m 17s	$20K	$292K	10x
Short	gTrade (Gains Network) PONS/USD	0.6176	L +0.0032% / S −0.0029%	get 0.0004% / 1h	15m 17s	$235K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against edgeX. 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 edgeXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.085%Rate

Funding earned: −$120.89
Price spread: −0.085% → −0.146%: $6.12
Slippage, 4 orders: −$4,611.27
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,747.04
Costs to cover: 46.323%
Break-even: never at this rate

Slippage from edgeX: live order book, 23 min ago; gTrade (Gains Network): virtual book (oracle venue), 24 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 edgeX live order book, 23 min ago	12.06 bp	20.4 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 24 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	0.6176	−0.085%	$235K	—	150x
Popdex PONSUSDT	+0.0096%	1h	0.6187	+0.099%	$22K	$455K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6187	+0.105%	$72K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6153	−0.451%	$30K	$300K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6190	+0.155%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6182	+0.013%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6185	+0.058%	$26K	$639K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6198	+0.277%	$67K	$536K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6183	+0.034%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6186	+0.083%	$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	+0.0416%	4h	0.6188	+0.115%	$14.0M	$61.0M	20x	as long as short
Gate PONS_USDT	+0.0468%	4h	0.6175	−0.095%	$5.5M	$6.6M	20x	as long as short
Aster PONSUSDT	+0.0486%	4h	0.6190	+0.153%	$1.1M	$2.4M	20x	as long as short
Variational Omni PONS	+0.0505%	4h	0.6176	−0.078%	$1.5M	$4.2M	—	as long as short
Lighter PONS	+0.0536%	1h	0.6190	+0.146%	$1.7M	$856K	3x	as long as short
KuCoin PONSUSDTM	+0.0540%	4h	0.6185	+0.058%	$1.6M	$4.0M	20x	as long as short
Lighter RH PONS	+0.0552%	1h	0.6188	+0.112%	$417K	$2.7M	3x	as long as short
Pacifica PONS	+0.0572%	1h	0.6182	+0.015%	$46K	$77K	3x	as long as short
MEXC PONS_USDT	+0.0604%	4h	0.6188	+0.115%	$7.8M	$4.8M	20x	as long as short
edgeX PONSUSDClong	+0.0604%	4h	0.6181	long leg	$20K	$292K	10x
Binance PONSUSDT	+0.0607%	4h	0.6190	+0.147%	$40.2M	$105.2M	20x	as long as short
Extended PONS-USD	+0.0608%	1h	0.6183	+0.027%	$104K	$828K	5x	as long as short
Hyperliquid PONS	+0.0622%	1h	0.6183	+0.041%	$62.9M	$30.4M	3x	as long as short
BingX PONS-USDT	+0.0666%	4h	0.6191	+0.164%	—	$3.2M	—	as long as short
Bybit PONSUSDT	+0.0674%	4h	0.6186	+0.083%	$18.5M	$33.0M	20x	as long as short
Bitget PONSUSDT	+0.0706%	4h	0.6189	+0.130%	$4.9M	$13.0M	20x	as long as short
BloFin PONS-USDT	+0.0847%	4h	0.6191	+0.164%	$1.8M	$1.1M	20x	as long as short
Polymarket Perps PONS-USD	+0.1029%	1h	0.6184	+0.049%	$73K	$2.3M	3x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−3.922%	$610	$10K	5.5x	as long as short
Phoenix PONS	+0.1405%	1h	0.6159	−0.359%	$47K	$127K	3x	as long as short