Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.100%

Price spread now: HTX against Extended+0.076%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$444as in the Funding arb table

Net, price: spread back to 7d avg − costs−$383as in the Price arb table

costs, in and out, $10k−$3853.850% of the position

Long on Extended Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.585%−$58 on $10k

Price spread, last 3 days (all we have)+0.150%+$15 · spread now +0.076%, 7d avg +0.052%

Together, before fees−0.435%+ Points / potential airdropExtended: Active · farm board−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.024% dearer against Extended than usual: you sell high and buy low (spread +0.076% now, against its 7-day average of +0.052%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 23 hours. At the pace of the last 7 days (−0.585% in total) that is about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.5910	0.0184	pay 0.0023% / 1h	28m 58s	$105K	$533K	5x
Short	HTX PONS-USDT	0.5915	0.0100	get 0.0050% / 4h	2h 28m	$64K	$504K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Extended. 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 ExtendedbpFee HTXbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$17.64
Price spread: +0.076% → +0.052%: $2.4
Slippage, 4 orders: −$368.03
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$400.27
Costs to cover: 3.850%
Break-even: never at this rate

Slippage from Extended: live order book, 59 min ago; HTX: live order book, 59 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 Extended live order book, 59 min ago	11.93 bp	27.3 bp −$27	140.2 bp −$1,402	doesn't fit	doesn't fit
Sell HTX live order book, 59 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	−0.169%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.155%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5908	−0.041%	$21K	$447K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5906	−0.075%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5907	−0.058%	$13.5M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5907	−0.058%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5911	+0.017%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5903	−0.122%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5903	−0.129%	$34K	$332K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5914	+0.059%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5909	−0.026%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5907	−0.049%	$27K	$549K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.5915	+0.076%	$64K	$504K	20x
Phemex PONSUSDT	+0.0100%	4h	0.5901	−0.159%	$1.7M	$3.3M	20x	as long as short
Nado PONS-PERP	+0.0114%	1h	0.5906	−0.069%	$89K	$103K	5x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5907	−0.059%	$368	—	3x	as long as short
MEXC PONS_USDT	+0.0176%	4h	0.5909	−0.024%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0181%	4h	0.5911	+0.018%	$38.4M	$98.4M	20x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5908	−0.041%	—	$3.1M	—	as long as short
Extended PONS-USDlong	+0.0184%	1h	0.5910	long leg	$105K	$533K	5x
edgeX PONSUSDC	+0.0187%	4h	0.5907	−0.064%	$21K	$294K	10x	as long as short
Aster PONSUSDT	+0.0215%	4h	0.5904	−0.104%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0338%	1h	0.5906	−0.070%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0421%	4h	0.5912	+0.027%	$1.7M	$970K	20x	as long as short
Gate PONS_USDT	+0.0448%	4h	0.5905	−0.092%	$5.2M	$6.8M	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5907	−0.056%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0533%	1h	0.5909	−0.029%	$59.0M	$30.0M	3x	as long as short
Lighter RH PONS	+0.0608%	1h	0.5911	+0.008%	$395K	$2.6M	3x	as long as short
Lighter PONS	+0.1120%	1h	0.5914	+0.062%	$1.7M	$882K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5899	−0.193%	$27K	$86K	3x	as long as short