Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.020%

Price spread now: gTrade (Gains Network) against SunX−0.228%7-day average −0.190% · 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−$4,844as in the Price arb table

costs, in and out, $10k−$4,84048.401% of the position

Long on SunX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)−0.546%−$55 · spread now −0.228%, 7d avg −0.190%

Together, before fees−0.566%−$57 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and gTrade (Gains Network) is 0.037% cheaper against SunX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.190%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PONS-USDT	0.6055	0.0100	pay 0.0050% / 4h	20m 48s	—	$1.3M	10x
Short	gTrade (Gains Network) PONS/USD	0.6041	L +0.0033% / S −0.0032%	get 0.0004% / 1h	20m 48s	$240K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against SunX. 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 SunXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.228%Rate

Funding earned: −$14.2
Price spread: −0.228% → −0.190%: −$3.71
Slippage, 4 orders: −$4,820.14
Fee SunX: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,858.04
Costs to cover: 48.401%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 38 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 SunX live order book, 3 min ago	104.88 bp	124.1 bp −$124	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 38 min ago	130.00 bp	2471.3 bp −$2,471	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/USDshort	L +0.0033% / S −0.0032%	1h	0.6041	−0.228%	$240K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.415%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6052	−0.053%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6027	−0.461%	$35K	$348K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6060	+0.083%	$2K	$3K	10x	as long as short
SunX PONS-USDTlong	+0.0100%	4h	0.6055	long leg	—	$1.3M	10x
SoDEX PONS-USD	+0.0100%	1h	0.6057	+0.030%	$26K	$534K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6057	+0.023%	$66K	$511K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6051	−0.069%	$1.7M	$3.2M	20x	as long as short
Gate PONS_USDT	+0.0166%	4h	0.6057	+0.030%	$5.3M	$6.3M	20x	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	+0.0232%	1h	0.6055	−0.004%	$377	—	3x	as long as short
Variational Omni PONS	+0.0241%	4h	0.6050	−0.080%	$1.4M	$4.0M	—	as long as short
Nado PONS-PERP	+0.0285%	1h	0.6050	−0.086%	$71K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0326%	4h	0.6069	+0.228%	$13.8M	$55.8M	20x	as long as short
Lighter PONS	+0.0368%	1h	0.6068	+0.216%	$1.7M	$884K	3x	as long as short
Bybit PONSUSDT	+0.0462%	4h	0.6069	+0.228%	$18.1M	$30.8M	20x	as long as short
Bitget PONSUSDT	+0.0478%	4h	0.6072	+0.271%	$4.6M	$11.5M	20x	as long as short
Aster PONSUSDT	+0.0487%	4h	0.6063	+0.132%	$1.1M	$2.1M	20x	as long as short
Lighter RH PONS	+0.0528%	1h	0.6069	+0.226%	$411K	$2.5M	3x	as long as short
BingX PONS-USDT	+0.0570%	4h	0.6067	+0.195%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0598%	4h	0.6066	+0.178%	$7.7M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0600%	1h	0.6061	+0.103%	$108K	$813K	5x	as long as short
edgeX PONSUSDC	+0.0605%	4h	0.6041	−0.240%	$18K	$292K	10x	as long as short
Binance PONSUSDT	+0.0609%	4h	0.6069	+0.235%	$39.7M	$95.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0666%	4h	0.6063	+0.130%	$1.7M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0794%	1h	0.6071	+0.261%	$62.0M	$28.2M	3x	as long as short
BloFin PONS-USDT	+0.0841%	4h	0.6060	+0.079%	$1.7M	$961K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.6070	+0.245%	$48K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0896%	1h	0.6054	−0.015%	$73K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6049	−0.109%	$31K	$104K	3x	as long as short