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 +0.119%

Price spread now: Bitget against HTX−0.587%56s7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$271as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3103.104% of the position

Long on HTX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.391%+$39 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now −0.587%, 7d avg +0.012%

Together, before fees+0.392%+$39 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: Bitget is 0.599% cheaper against HTX than usual: you would sell low and buy high, −$60 on $10k if it goes back to its 7-day average of +0.012%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PONS-USDT	0.5945	0.0100	pay 0.0050% / 4h	3h 29m	$64K	$506K	20x
Short	Bitget PONSUSDT	0.5910	0.0100	get 0.0050% / 4h	3h 29m	$4.6M	$11.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against HTX. 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 HTXbpFee BitgetbpOrdersPrice spread, now −0.587%Rate

Funding earned: $0
Price spread: −0.587% → +0.012%: −$59.88
Slippage, 4 orders: −$286.39
Fee HTX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$370.26
Costs to cover: 3.104%
Break-even: never at this rate

Slippage from HTX: live order book, 19 min ago; Bitget: live order book, 5 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 HTX live order book, 19 min ago	42.15 bp	111.2 bp −$111	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	3.04 bp	16.3 bp −$16	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
Gate PONS_USDT	−0.0268%	4h	0.5920	−0.427%	$5.2M	$7.0M	20x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0032%	1h	0.5904	−0.702%	$212K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5863	−1.388%	$603	$3K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5917	−0.478%	$21K	$475K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5920	−0.426%	$73K	$95K	5x	as long as short
Hyperliquid PONS	+0.0100%	1h	0.5913	−0.550%	$58.7M	$29.5M	3x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5906	−0.663%	$17.8M	$31.2M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5907	−0.646%	$13.3M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5910	−0.590%	$1.8M	$3.6M	20x	as long as short
Bitget PONSUSDTshort	+0.0100%	4h	0.5910	−0.587%	$4.6M	$11.5M	20x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONS	+0.0100%	4h	0.5930	−0.252%	$1.3M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5936	−0.160%	$34K	$319K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5920	−0.431%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5941	−0.077%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5941	−0.072%	$27K	$528K	3x	as long as short
HTX PONS-USDTlong	+0.0100%	4h	0.5945	long leg	$64K	$506K	20x
Phemex PONSUSDT	+0.0100%	4h	0.5940	−0.091%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5915	−0.503%	$369	—	3x	as long as short
Extended PONS-USD	+0.0200%	1h	0.5914	−0.534%	$92K	$529K	5x	as long as short
MEXC PONS_USDT	+0.0200%	4h	0.5912	−0.562%	$7.4M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0202%	4h	0.5913	−0.548%	$38.5M	$98.6M	20x	as long as short
BingX PONS-USDT	+0.0206%	4h	0.5910	−0.595%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0210%	4h	0.5935	−0.178%	$21K	$294K	10x	as long as short
Aster PONSUSDT	+0.0252%	4h	0.5922	−0.387%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0279%	1h	0.5926	−0.320%	$47K	$111K	3x	as long as short
Lighter RH PONS	+0.0392%	1h	0.5926	−0.333%	$398K	$2.5M	3x	as long as short
BloFin PONS-USDT	+0.0438%	4h	0.5937	−0.141%	$1.7M	$984K	20x	as long as short
Polymarket Perps PONS-USD	+0.0464%	1h	0.5912	−0.569%	$48K	$1.8M	3x	as long as short
Phoenix PONS	+0.1232%	1h	0.5933	−0.214%	$27K	$80K	3x	as long as short
Lighter PONS	+0.1248%	1h	0.5932	−0.227%	$1.7M	$864K	3x	as long as short