Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.023%

Price spread now: Injective against HTX+1.389%65s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 1.389% dearer against HTX than usual: you sell high and buy low (spread +1.389% now, against zero (this spread has no 7-day history yet)): +$139 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5 months. The two prices were read 65 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	0.5838	0.0100	pay 0.0050% / 4h	2h 39m	$63K	$504K	20x
Short	Injective PONS/USDC PERP	0.5920	0.0066	get 0.0008% / 1h	39m 32s	$609	$6K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.389%Rate

Funding earned: −$7.15
Price spread: +1.389% → 0.000%: $138.91
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $119.73
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: HTX: live order book, 49 min ago; Injective: no order-book sample. Net counts fees only.

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, 49 min ago	17.23 bp	145.9 bp −$146	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.5829	−0.159%	$214K	—	150x	as long as short
Injective PONS/USDC PERPshort	+0.0066%	1h	0.5920	+1.389%	$609	$6K	5.5x
Popdex PONSUSDT	+0.0096%	1h	0.5831	−0.128%	$21K	$448K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5826	−0.214%	$17.5M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5827	−0.197%	$13.3M	$55.3M	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5832	−0.111%	$5.1M	$6.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5834	−0.077%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5832	−0.110%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5819	−0.342%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5822	−0.277%	$34K	$329K	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	0.5843	+0.079%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5846	+0.128%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5843	+0.074%	$27K	$549K	3x	as long as short
HTX PONS-USDTlong	+0.0100%	4h	0.5838	long leg	$63K	$504K	20x
Phemex PONSUSDT	+0.0100%	4h	0.5844	+0.094%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5835	−0.068%	$363	—	3x	as long as short
BingX PONS-USDT	+0.0136%	4h	0.5831	−0.128%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0150%	4h	0.5831	−0.128%	$7.4M	$5.2M	20x	as long as short
Extended PONS-USD	+0.0152%	1h	0.5831	−0.123%	$104K	$531K	5x	as long as short
Binance PONSUSDT	+0.0154%	4h	0.5832	−0.119%	$37.9M	$98.3M	20x	as long as short
edgeX PONSUSDC	+0.0162%	4h	0.5823	−0.257%	$20K	$292K	10x	as long as short
Nado PONS-PERP	+0.0171%	1h	0.5832	−0.111%	$88K	$103K	5x	as long as short
Aster PONSUSDT	+0.0177%	4h	0.5832	−0.114%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0321%	1h	0.5832	−0.116%	$38K	$1.8M	3x	as long as short
Lighter RH PONS	+0.0384%	1h	0.5839	+0.007%	$390K	$2.6M	3x	as long as short
BloFin PONS-USDT	+0.0391%	4h	0.5819	−0.334%	$1.7M	$956K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5834	−0.080%	$46K	$103K	3x	as long as short
Hyperliquid PONS	+0.0563%	1h	0.5833	−0.087%	$58.3M	$29.9M	3x	as long as short
Lighter PONS	+0.0896%	1h	0.5841	+0.038%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5823	−0.269%	$27K	$86K	3x	as long as short