Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0829%/8h= −90.8% APRpaid last 24h −0.133%

Price spread now: gTrade (Gains Network) against Gate−0.239%7-day average −0.088% · 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−$4,661as in the Price arb table

costs, in and out, $10k−$4,64646.459% of the position

Long on Gate Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.213%−$21 on $10k

Price spread, last 3 days (all we have)+0.150%+$15 · spread now −0.239%, 7d avg −0.088%

Together, before fees−0.063%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and gTrade (Gains Network) is 0.151% cheaper against Gate than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.088%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PONS_USDT	0.6038	0.0862	pay 0.0431% / 4h	1h 59m	$5.3M	$6.1M	20x
Short	gTrade (Gains Network) PONS/USD	0.6024	L +0.0033% / S −0.0033%	get 0.0004% / 1h	59m 38s	$239K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Gate. 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 GatebpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.239%Rate

Funding earned: −$174.17
Price spread: −0.239% → −0.088%: −$15.11
Slippage, 4 orders: −$4,618.9
Fee Gate: 7.5 bp × 2 orders: −$15
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,835.19
Costs to cover: 46.459%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 4 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 Gate live order book, 4 min ago	0.83 bp	32.3 bp −$32	232.5 bp −$2,325	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 4 min ago	130.01 bp	2470.9 bp −$2,471	doesn't fit	doesn't fit	doesn't fit

PONS on 29 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 +0.0033% / S −0.0033%	1h	0.6024	−0.239%	$239K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.134%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6063	+0.414%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6048	+0.165%	$1.4M	$3.9M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6070	+0.533%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6044	+0.098%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6055	+0.280%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6035	−0.043%	$26K	$520K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6044	+0.093%	$64K	$508K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6034	−0.066%	$1.6M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0184%	1h	0.6045	+0.116%	$425K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0192%	1h	0.6037	−0.020%	$376	—	3x	as long as short
Lighter PONS	+0.0264%	1h	0.6045	+0.121%	$1.7M	$871K	3x	as long as short
OKX PONS-USDT-SWAP	+0.0265%	4h	0.6037	−0.017%	$13.9M	$54.4M	20x	as long as short
Nado PONS-PERP	+0.0284%	1h	0.6063	+0.406%	$71K	$131K	5x	as long as short
KuCoin PONSUSDTM	+0.0316%	4h	0.6046	+0.124%	$1.7M	$3.6M	20x	as long as short
Bitget PONSUSDT	+0.0370%	4h	0.6043	+0.076%	$4.7M	$11.2M	20x	as long as short
Aster PONSUSDT	+0.0432%	4h	0.6042	+0.059%	$1.1M	$2.0M	20x	as long as short
BingX PONS-USDT	+0.0438%	4h	0.6040	+0.033%	—	$3.0M	—	as long as short
edgeX PONSUSDC	+0.0448%	4h	0.6061	+0.381%	$21K	$293K	10x	as long as short
MEXC PONS_USDT	+0.0452%	4h	0.6046	+0.132%	$7.8M	$4.6M	20x	as long as short
Binance PONSUSDT	+0.0455%	4h	0.6039	+0.023%	$39.5M	$93.7M	20x	as long as short
Extended PONS-USD	+0.0456%	1h	0.6040	+0.026%	$250K	$670K	5x	as long as short
Bybit PONSUSDT	+0.0515%	4h	0.6041	+0.050%	$18.0M	$30.3M	20x	as long as short
Hyperliquid PONS	+0.0626%	1h	0.6054	+0.262%	$61.7M	$27.8M	3x	as long as short
Polymarket Perps PONS-USD	+0.0785%	1h	0.6062	+0.397%	$48K	$1.5M	3x	as long as short
Gate PONS_USDTlong	+0.0862%	4h	0.6038	long leg	$5.3M	$6.1M	20x
Pacifica PONS	+0.0869%	1h	0.6042	+0.072%	$48K	$72K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6060	+0.373%	$31K	$107K	3x	as long as short