Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0268%/8hnext payment +$1.34 per $10,000 · paid last 24h −0.106%

Price spread now: SunX against Gate+0.041%7-day average +0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$339as in the Funding arb table

Net, price: spread back to 7d avg − costs−$300as in the Price arb table

costs, in and out, $10k−$2942.944% of the position

Long on Gate Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.445%−$44 on $10k

Price spread, last 3 days (all we have)+0.118%+$12 · spread now +0.041%, 7d avg +0.099%

Together, before fees−0.327%−$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.058% cheaper against Gate than usual: you would sell low and buy high (spread +0.041% now, against its 7-day average of +0.099%). If the spread goes back, that is −$6 on $10k: about 17 hours of funding at the current rate (+$8 a day). Mind the row above: over the last 7 days funding on this pair cost −0.445%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PONS_USDT	0.5899	−0.0168	get 0.0084% / 4h	7m 01s	$5.2M	$7.2M	20x
Short	SunX PONS-USDT	0.5901	0.0100	get 0.0050% / 4h	7m 01s	—	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.041%Rate

Funding earned: $56.28
Price spread: +0.041% → +0.099%: −$5.83
Slippage, 4 orders: −$271.45
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$244
Costs to cover: 2.944%
Break-even: 37.3 days

Slippage from Gate: live order book, 1 min ago; SunX: 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 Gate live order book, 1 min ago	2.54 bp	19.9 bp −$20	229.6 bp −$2,296	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	105.64 bp	125.9 bp −$126	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
Gate PONS_USDTlong	−0.0168%	4h	0.5899	long leg	$5.2M	$7.2M	20x
Injective PONS/USDC PERP	−0.0008%	1h	0.5863	−0.612%	$603	$6K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0032%	1h	0.5894	−0.091%	$212K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5896	−0.051%	$21K	$494K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5899	0.000%	$73K	$95K	5x	as long as short
Hyperliquid PONS	+0.0100%	1h	0.5900	+0.017%	$58.4M	$29.9M	3x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5897	−0.034%	$17.6M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5897	−0.034%	$13.2M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5902	+0.056%	$1.8M	$3.6M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5901	+0.031%	$4.6M	$11.5M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONS	+0.0100%	4h	0.5879	−0.331%	$1.2M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5898	−0.020%	$34K	$315K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5906	+0.110%	$2K	$3K	10x	as long as short
SunX PONS-USDTshort	+0.0100%	4h	0.5901	+0.041%	—	$1.4M	10x
SoDEX PONS-USD	+0.0100%	1h	0.5898	−0.017%	$27K	$533K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5912	+0.225%	$63K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5895	−0.068%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5894	−0.083%	$367	—	3x	as long as short
Pacifica PONS	+0.0150%	1h	0.5897	−0.029%	$47K	$111K	3x	as long as short
Lighter RH PONS	+0.0192%	1h	0.5900	+0.017%	$397K	$2.5M	3x	as long as short
Extended PONS-USD	+0.0192%	1h	0.5897	−0.031%	$88K	$537K	5x	as long as short
MEXC PONS_USDT	+0.0194%	4h	0.5898	−0.017%	$7.3M	$5.3M	20x	as long as short
BingX PONS-USDT	+0.0194%	4h	0.5899	0.000%	—	$3.2M	—	as long as short
Binance PONSUSDT	+0.0195%	4h	0.5898	−0.023%	$38.3M	$99.3M	20x	as long as short
edgeX PONSUSDC	+0.0196%	4h	0.5898	−0.021%	$21K	$292K	10x	as long as short
Aster PONSUSDT	+0.0204%	4h	0.5900	+0.011%	$1.1M	$2.1M	20x	as long as short
Polymarket Perps PONS-USD	+0.0259%	1h	0.5898	−0.015%	$55K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0435%	4h	0.5904	+0.085%	$1.7M	$979K	20x	as long as short
Lighter PONS	+0.0904%	1h	0.5905	+0.095%	$1.7M	$875K	3x	as long as short
Phoenix PONS	+0.1244%	1h	0.5898	−0.014%	$27K	$80K	3x	as long as short