Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.114%

Price spread now: Gate against SoDEX−0.091%7-day average −0.056% · 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−$185as in the Price arb table

costs, in and out, $10k−$1811.812% of the position

Long on SoDEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.426%+$43 on $10k

Price spread, last 4 days (all we have)−0.672%−$67 · spread now −0.091%, 7d avg −0.056%

Together, before fees−0.246%−$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.035% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.091% now, against its 7-day average of −0.056%). If the spread goes back, that is −$4 on $10k: about 20 hours of funding at the current rate (+$4 a day). At the pace of the last 3 days (+0.426% in total) that is about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PONS-USD	0.6016	0.0100	pay 0.0013% / 1h	10m 06s	$26K	$528K	3x
Short	Gate PONS_USDT	0.6010	0.0244	get 0.0122% / 4h	1h 10m	$5.3M	$6.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SoDEX. 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 SoDEXbpFee GatebpOrdersPrice spread, now −0.091%Rate

Funding earned: $30.24
Price spread: −0.091% → −0.056%: −$3.52
Slippage, 4 orders: −$158.17
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$154.44
Costs to cover: 1.812%
Break-even: 42.8 days

Slippage from SoDEX: live order book, 54 min ago; Gate: live order book, 3 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 SoDEX live order book, 54 min ago	2.14 bp	66.4 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	2.49 bp	22.8 bp −$23	79.8 bp −$798	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/USD	L +0.0033% / S −0.0033%	1h	0.6001	−0.234%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.765%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6017	+0.025%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6015	−0.010%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6022	+0.108%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6019	+0.058%	—	$1.3M	10x	as long as short
SoDEX PONS-USDlong	+0.0100%	1h	0.6016	long leg	$26K	$528K	3x
HTX PONS-USDT	+0.0100%	4h	0.6018	+0.040%	$64K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6004	−0.191%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0178%	4h	0.6018	+0.047%	$1.4M	$3.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0216%	1h	0.6018	+0.044%	$375	—	3x	as long as short
Nado PONS-PERP	+0.0229%	1h	0.6018	+0.042%	$70K	$129K	5x	as long as short
Gate PONS_USDTshort	+0.0244%	4h	0.6010	−0.091%	$5.3M	$6.3M	20x
OKX PONS-USDT-SWAP	+0.0316%	4h	0.6007	−0.141%	$13.6M	$55.0M	20x	as long as short
Lighter RH PONS	+0.0336%	1h	0.6014	−0.025%	$418K	$2.5M	3x	as long as short
Lighter PONS	+0.0352%	1h	0.6014	−0.033%	$1.7M	$877K	3x	as long as short
Bitget PONSUSDT	+0.0424%	4h	0.6011	−0.071%	$4.7M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0450%	4h	0.6014	−0.032%	$1.1M	$2.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0468%	4h	0.6009	−0.101%	$1.7M	$3.7M	20x	as long as short
Bybit PONSUSDT	+0.0492%	4h	0.6007	−0.141%	$17.9M	$30.7M	20x	as long as short
BingX PONS-USDT	+0.0496%	4h	0.6010	−0.091%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0526%	4h	0.6012	−0.058%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0527%	4h	0.6007	−0.146%	$39.6M	$94.7M	20x	as long as short
edgeX PONSUSDC	+0.0528%	4h	0.6022	+0.105%	$18K	$292K	10x	as long as short
Extended PONS-USD	+0.0528%	1h	0.6007	−0.138%	$249K	$671K	5x	as long as short
Pacifica PONS	+0.0755%	1h	0.6017	+0.025%	$47K	$70K	3x	as long as short
Hyperliquid PONS	+0.0756%	1h	0.6012	−0.065%	$61.2M	$27.9M	3x	as long as short
BloFin PONS-USDT	+0.0767%	4h	0.6029	+0.224%	$1.7M	$968K	20x	as long as short
Polymarket Perps PONS-USD	+0.0851%	1h	0.6015	−0.002%	$69K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.6017	+0.032%	$31K	$98K	3x	as long as short