Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0058%/8h= +6.4% APRpaid last 24h +0.082%

Price spread now: Nado against HTX+0.055%7-day average −0.034% · 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−$418as in the Price arb table

costs, in and out, $10k−$4274.270% of the position

Long on HTX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.151%+$15 on $10k

Price spread, last 3 days (all we have)−0.267%−$27 · spread now +0.055%, 7d avg −0.034%

Together, before fees−0.116%+ Points / potential airdropNado: Active · farm board−$12 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 Nado is 0.089% dearer against HTX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PONS-USDT	0.5863	0.0100	pay 0.0050% / 4h	2h 36m	$63K	$504K	20x
Short	Nado PONS-PERP	0.5866	0.0158	get 0.0020% / 1h	36m 14s	$89K	$103K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.055%Rate

Funding earned: $12.21
Price spread: +0.055% → −0.034%: $8.86
Slippage, 4 orders: −$414.95
Fee HTX: 6 bp × 2 orders: −$12
Fee Nado: 0 bp × 2 orders: $0
Net: −$405.88
Costs to cover: 4.270%
Break-even: 239.6 days

Slippage from HTX: live order book, 52 min ago; Nado: live order book, 42 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, 52 min ago	17.23 bp	145.9 bp −$146	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 42 min ago	19.48 bp	49.5 bp −$50	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
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0034%	1h	0.5856	−0.108%	$215K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.969%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5865	+0.038%	$21K	$448K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5863	+0.003%	$17.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5867	+0.072%	$13.4M	$55.7M	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5858	−0.082%	$5.1M	$6.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5862	−0.007%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5868	+0.087%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5819	−0.755%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5822	−0.691%	$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	0.5873	+0.165%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5870	+0.116%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5866	+0.051%	$27K	$549K	3x	as long as short
HTX PONS-USDTlong	+0.0100%	4h	0.5863	long leg	$63K	$504K	20x
Phemex PONSUSDT	+0.0100%	4h	0.5866	+0.055%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5867	+0.080%	$366	—	3x	as long as short
MEXC PONS_USDT	+0.0154%	4h	0.5866	+0.055%	$7.5M	$5.2M	20x	as long as short
BingX PONS-USDT	+0.0154%	4h	0.5866	+0.055%	—	$3.1M	—	as long as short
Nado PONS-PERPshort	+0.0158%	1h	0.5866	+0.055%	$89K	$103K	5x
Extended PONS-USD	+0.0160%	1h	0.5865	+0.044%	$104K	$531K	5x	as long as short
Binance PONSUSDT	+0.0161%	4h	0.5868	+0.085%	$38.1M	$98.3M	20x	as long as short
edgeX PONSUSDC	+0.0163%	4h	0.5834	−0.500%	$20K	$292K	10x	as long as short
Aster PONSUSDT	+0.0197%	4h	0.5868	+0.090%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0325%	1h	0.5867	+0.067%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0396%	4h	0.5860	−0.048%	$1.7M	$961K	20x	as long as short
Lighter RH PONS	+0.0448%	1h	0.5867	+0.080%	$392K	$2.6M	3x	as long as short
Pacifica PONS	+0.0474%	1h	0.5866	+0.050%	$46K	$103K	3x	as long as short
Hyperliquid PONS	+0.0556%	1h	0.5870	+0.121%	$58.6M	$29.9M	3x	as long as short
Lighter PONS	+0.1024%	1h	0.5870	+0.116%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5836	−0.450%	$27K	$86K	3x	as long as short