Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0335%/8h= +36.7% APRpaid last 24h +0.110%

Price spread now: edgeX against gTrade (Gains Network)+0.089%7-day average +0.137% · 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−$4,635as in the Price arb table

costs, in and out, $10k−$4,63146.305% of the position

Long on gTrade (Gains Network)Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.140%+$14 on $10k

Price spread, last 3 days (all we have)+0.060%+$6 · spread now +0.089%, 7d avg +0.137%

Together, before fees+0.200%+ Points / potential airdropedgeX: Active · farm board+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.048% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread +0.089% now, against its 7-day average of +0.137%). If the spread goes back, that is −$5 on $10k: about 11 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.6110	L +0.0033% / S −0.0033%	pay 0.0004% / 1h	26m 34s	$242K	—	150x
Short	edgeX PONSUSDC	0.6115	0.0368	get 0.0184% / 4h	3h 26m	$21K	$292K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.089%Rate

Funding earned: $70.3
Price spread: +0.089% → +0.137%: −$4.79
Slippage, 4 orders: −$4,609.5
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$4,565
Costs to cover: 46.305%
Break-even: 461.6 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 47 min ago; edgeX: live order book, 46 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), 47 min ago	130.01 bp	2119.5 bp −$2,119	16868.2 bp −$168.7K	doesn't fit	doesn't fit
Sell edgeX live order book, 46 min ago	11.48 bp	20.0 bp −$20	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/USDlong	L +0.0033% / S −0.0033%	1h	0.6110	long leg	$242K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.297%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6110	+0.001%	$432K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6113	+0.052%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6105	−0.086%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6116	+0.096%	$34K	$358K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6126	+0.256%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6120	+0.162%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6120	+0.160%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6130	+0.327%	$65K	$510K	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	0.6113	+0.052%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6121	+0.183%	$381	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0179%	4h	0.6105	−0.079%	$13.9M	$57.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0186%	4h	0.6109	−0.015%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0248%	4h	0.6107	−0.050%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0280%	4h	0.6115	+0.082%	$1.1M	$2.1M	20x	as long as short
MEXC PONS_USDT	+0.0366%	4h	0.6111	+0.019%	$8.0M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0368%	4h	0.6112	+0.035%	$40.1M	$96.7M	20x	as long as short
edgeX PONSUSDCshort	+0.0368%	4h	0.6115	+0.089%	$21K	$292K	10x
Extended PONS-USD	+0.0368%	1h	0.6112	+0.030%	$253K	$679K	5x	as long as short
Lighter PONS	+0.0504%	1h	0.6111	+0.018%	$1.7M	$931K	3x	as long as short
BloFin PONS-USDT	+0.0608%	4h	0.6117	+0.117%	$1.8M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0608%	1h	0.6112	+0.035%	$106K	$115K	5x	as long as short
BingX PONS-USDT	+0.0648%	4h	0.6112	+0.036%	—	$3.1M	—	as long as short
Pacifica PONS	+0.0665%	1h	0.6111	+0.020%	$48K	$78K	3x	as long as short
Bybit PONSUSDT	+0.0681%	4h	0.6106	−0.063%	$18.4M	$30.9M	20x	as long as short
Polymarket Perps PONS-USD	+0.0778%	1h	0.6120	+0.171%	$44K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0894%	1h	0.6111	+0.025%	$62.1M	$29.2M	3x	as long as short
Gate PONS_USDT	+0.1050%	4h	0.6106	−0.063%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6110	0.000%	$32K	$113K	3x	as long as short