PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0460%/8h= +50.4% APRnext payment +$0.58 per $10,000 · paid last 24h +0.206%

Price spread now: Hyperliquid against gTrade (Gains Network)+0.186%7-day average +0.155% · 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−$4,614as in the Price arb table

costs, in and out, $10k−$4,61746.173% of the position

Long on gTrade (Gains Network)Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.218%+$22 on $10k

Price spread, last 3 days (all we have)+0.068%+$7 · spread now +0.186%, 7d avg +0.155%

Together, before fees+0.286%+ Points / potential airdropHyperliquid: Season 2 · farm board+$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Hyperliquid is 0.030% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.155%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.5894	L +0.0032% / S −0.0034%	pay 0.0004% / 1h	21m 09s	$216K	—	150x
Short	Hyperliquid PONS	0.5905	0.0492	get 0.0062% / 1h	21m 09s	$59.1M	$30.0M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.186%Rate

Funding earned: $96.61
Price spread: +0.186% → +0.155%: $3.05
Slippage, 4 orders: −$4,596.34
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$4,517.68
Costs to cover: 46.173%
Break-even: 334.3 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 3 min ago; Hyperliquid: live order book, 12 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), 3 min ago	130.01 bp	2119.9 bp −$2,120	16869.1 bp −$168.7K	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 12 min ago	2.96 bp	12.9 bp −$13	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 +0.0032% / S −0.0034%	1h	0.5894	long leg	$216K	—	150x
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.428%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5905	+0.181%	$21K	$446K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5904	+0.164%	$89K	$103K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5899	+0.079%	$17.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5900	+0.096%	$13.4M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5903	+0.154%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5902	+0.131%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5909	+0.245%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5895	+0.016%	$34K	$333K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5909	+0.245%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5910	+0.262%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5901	+0.115%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5911	+0.281%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5896	+0.028%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5902	+0.130%	$368	—	3x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5902	+0.135%	$106K	$533K	5x	as long as short
Binance PONSUSDT	+0.0178%	4h	0.5903	+0.152%	$38.4M	$98.4M	20x	as long as short
MEXC PONS_USDT	+0.0178%	4h	0.5903	+0.147%	$7.5M	$5.2M	20x	as long as short
edgeX PONSUSDC	+0.0182%	4h	0.5896	+0.029%	$21K	$293K	10x	as long as short
BingX PONS-USDT	+0.0184%	4h	0.5901	+0.113%	—	$3.1M	—	as long as short
Aster PONSUSDT	+0.0194%	4h	0.5903	+0.153%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0352%	1h	0.5906	+0.191%	$37K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0418%	4h	0.5909	+0.249%	$1.7M	$967K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5910	+0.264%	$47K	$103K	3x	as long as short
Hyperliquid PONSshort	+0.0492%	1h	0.5905	+0.186%	$59.1M	$30.0M	3x
Lighter RH PONS	+0.0616%	1h	0.5904	+0.164%	$414K	$2.6M	3x	as long as short
Gate PONS_USDT	+0.0666%	4h	0.5899	+0.079%	$5.2M	$6.8M	20x	as long as short
Lighter PONS	+0.1016%	1h	0.5907	+0.215%	$1.7M	$885K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5904	+0.164%	$30K	$86K	3x	as long as short