Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0069%/8h= +7.5% APRpaid last 24h +0.020%

Price spread now: HTX against gTrade (Gains Network)+0.317%7-day average +0.209% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$4,870as in the Price arb table

costs, in and out, $10k−$4,88148.806% of the position

Long on gTrade (Gains Network)Short on HTX

What this pair did over the last

the charts below follow

Funding, last 2 days (all we have)+0.032%+$3 on $10k

Price spread, last 4 days (all we have)−0.159%−$16 · spread now +0.317%, 7d avg +0.209%

Together, before fees−0.127%−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and HTX is 0.108% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.209%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.6420	L +0.0031% / S −0.0029%	pay 0.0004% / 1h	8m 38s	$253K	—	150x
Short	HTX PONS-USDT	0.6441	0.0100	get 0.0050% / 4h	8m 38s	$67K	$557K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee HTXbpOrdersPrice spread, now +0.317%Rate

Funding earned: $14.42
Price spread: +0.317% → +0.209%: $10.84
Slippage, 4 orders: −$4,856.59
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$4,855.33
Costs to cover: 48.806%
Break-even: 2364.0 days

Slippage from gTrade (Gains Network): virtual book (oracle exchange), 33 min ago; HTX: live order book, 33 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 gTrade (Gains Network) virtual book (oracle exchange), 33 min ago	130.00 bp	2119.9 bp −$2,120	16869.5 bp −$168.7K	doesn't fit	doesn't fit
Sell HTX live order book, 33 min ago	36.65 bp	159.4 bp −$159	doesn't fit	doesn't fit	doesn't fit

PONS on 30 exchanges

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/USDlong	L +0.0031% / S −0.0029%	1h	0.6420	long leg	$253K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−7.506%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6408	−0.194%	$21K	$414K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6428	+0.118%	$75K	$94K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6443	+0.358%	$32K	$283K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6438	+0.272%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6442	+0.331%	—	$806K	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6428	+0.116%	$27K	$597K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.6441	+0.317%	$67K	$557K	20x
Phemex PONSUSDT	+0.0100%	4h	0.6427	+0.102%	$1.7M	$3.2M	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0224%	1h	0.6421	+0.002%	$400	—	3x	as long as short
Hyperliquid PONS	+0.0251%	1h	0.6420	−0.010%	$65.5M	$29.3M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0293%	4h	0.6404	−0.256%	$14.1M	$60.4M	20x	as long as short
Aster PONSUSDT	+0.0384%	4h	0.6414	−0.098%	$1.2M	$2.1M	20x	as long as short
Pacifica PONS	+0.0517%	1h	0.6413	−0.120%	$47K	$70K	3x	as long as short
KuCoin PONSUSDTM	+0.0544%	4h	0.6413	−0.111%	$1.8M	$4.3M	20x	as long as short
Lighter RH PONS	+0.0560%	1h	0.6421	+0.009%	$447K	$2.6M	3x	as long as short
Variational Omni PONS	+0.0564%	4h	0.6434	+0.215%	$1.5M	$3.7M	—	as long as short
MEXC PONS_USDT	+0.0566%	4h	0.6414	−0.100%	$7.9M	$4.6M	20x	as long as short
Binance PONSUSDT	+0.0567%	4h	0.6414	−0.098%	$41.5M	$98.6M	20x	as long as short
Extended PONS-USD	+0.0568%	1h	0.6411	−0.152%	$185K	$821K	5x	as long as short
edgeX PONSUSDC	+0.0568%	4h	0.6432	+0.176%	$18K	$294K	10x	as long as short
Bitget PONSUSDT	+0.0662%	4h	0.6408	−0.200%	$5.1M	$13.1M	20x	as long as short
BingX PONS-USDT	+0.0702%	4h	0.6398	−0.350%	—	$3.1M	—	as long as short
Polymarket Perps PONS-USD	+0.0744%	1h	0.6430	+0.143%	$73K	$2.1M	3x	as long as short
Bybit PONSUSDT	+0.0756%	4h	0.6404	−0.256%	$19.3M	$31.4M	20x	as long as short
BloFin PONS-USDT	+0.0801%	4h	0.6436	+0.242%	$1.9M	$1.1M	20x	as long as short
Lighter PONS	+0.0816%	1h	0.6423	+0.038%	$1.8M	$850K	3x	as long as short
Phoenix PONS	+0.1439%	1h	0.6438	+0.272%	$49K	$153K	3x	as long as short
Gate PONS_USDT	+0.1534%	4h	0.6399	−0.334%	$5.5M	$6.6M	20x	as long as short