Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.150%

Price spread now: HTX against Bybit+0.166%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$401as in the Funding arb table

Net, price: spread back to 7d avg − costs−$354as in the Price arb table

costs, in and out, $10k−$3653.653% of the position

Long on Bybit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.354%−$35 on $10k

Price spread, last 3 days (all we have)+0.078%+$8 · spread now +0.166%, 7d avg +0.052%

Together, before fees−0.276%−$28 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.114% dearer against Bybit than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PONSUSDT	0.5903	0.0100	pay 0.0050% / 4h	2h 25m	$17.7M	$31.8M	20x
Short	HTX PONS-USDT	0.5913	0.0100	get 0.0050% / 4h	2h 25m	$64K	$504K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Bybit. 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 BybitbpFee HTXbpOrdersPrice spread, now +0.166%Rate

Funding earned: $0
Price spread: +0.166% → +0.052%: $11.45
Slippage, 4 orders: −$342.32
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee HTX: 6 bp × 2 orders: −$12
Net: −$353.87
Costs to cover: 3.653%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; HTX: live order book, 62 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 Bybit live order book, 3 min ago	0.85 bp	23.7 bp −$24	54.0 bp −$540	doesn't fit	doesn't fit
Sell HTX live order book, 62 min ago	17.23 bp	184.6 bp −$185	1501.8 bp −$15.0K	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 +0.0032% / S −0.0034%	1h	0.5900	−0.045%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.281%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5909	+0.102%	$21K	$446K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5906	+0.056%	$89K	$103K	5x	as long as short
Bybit PONSUSDTlong	+0.0100%	4h	0.5903	long leg	$17.7M	$31.8M	20x
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5903	0.000%	$13.4M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5903	+0.003%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5903	+0.002%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5903	+0.004%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5903	−0.003%	$34K	$332K	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	0.5916	+0.222%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5908	+0.086%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5907	+0.069%	$27K	$549K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.5913	+0.166%	$64K	$504K	20x
Phemex PONSUSDT	+0.0100%	4h	0.5899	−0.068%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5908	+0.089%	$368	—	3x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5900	−0.051%	—	$3.1M	—	as long as short
Binance PONSUSDT	+0.0183%	4h	0.5904	+0.025%	$38.4M	$98.3M	20x	as long as short
Extended PONS-USD	+0.0184%	1h	0.5900	−0.045%	$105K	$533K	5x	as long as short
MEXC PONS_USDT	+0.0184%	4h	0.5900	−0.051%	$7.5M	$5.2M	20x	as long as short
edgeX PONSUSDC	+0.0187%	4h	0.5907	+0.061%	$21K	$294K	10x	as long as short
Aster PONSUSDT	+0.0208%	4h	0.5903	−0.003%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0344%	1h	0.5908	+0.091%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0424%	4h	0.5909	+0.102%	$1.7M	$967K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5908	+0.089%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0503%	1h	0.5906	+0.044%	$59.1M	$30.1M	3x	as long as short
Gate PONS_USDT	+0.0560%	4h	0.5901	−0.034%	$5.2M	$6.8M	20x	as long as short
Lighter RH PONS	+0.0640%	1h	0.5905	+0.036%	$396K	$2.6M	3x	as long as short
Lighter PONS	+0.1080%	1h	0.5909	+0.110%	$1.7M	$882K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5912	+0.147%	$27K	$86K	3x	as long as short