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 0.000%

Price spread now: Phemex against HTX−0.254%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$386as in the Funding arb table

Net, price: spread back to 7d avg − costs−$410as in the Price arb table

costs, in and out, $10k−$3883.876% of the position

Long on HTX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 3 days (all we have)+0.357%+$36 · spread now −0.254%, 7d avg −0.025%

Together, before fees+0.374%+$37 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: Phemex is 0.229% cheaper against HTX than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PONS-USDT	0.6100	0.0100	pay 0.0050% / 4h	57m 08s	$65K	$509K	20x
Short	Phemex PONSUSDT	0.6085	0.0100	get 0.0050% / 4h	57m 08s	$1.7M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.254%Rate

Funding earned: $0
Price spread: −0.254% → −0.025%: −$22.92
Slippage, 4 orders: −$363.57
Fee HTX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$410.49
Costs to cover: 3.876%
Break-even: never at this rate

Slippage from HTX: live order book, 21 min ago; Phemex: live order book, 2 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, 21 min ago	19.60 bp	154.5 bp −$155	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	4.10 bp	37.7 bp −$38	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.147%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6086	−0.243%	$229K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6092	−0.139%	$21K	$450K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6093	−0.131%	$86K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6080	−0.336%	$18.3M	$31.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6081	−0.320%	$13.8M	$57.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6093	−0.126%	$1.8M	$3.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6093	−0.120%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6095	−0.097%	$33K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6101	+0.005%	$3K	$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	0.6094	−0.110%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6095	−0.098%	$28K	$548K	3x	as long as short
HTX PONS-USDTlong	+0.0100%	4h	0.6100	long leg	$65K	$509K	20x
Phemex PONSUSDTshort	+0.0100%	4h	0.6085	−0.254%	$1.7M	$3.3M	20x
Bitget PONSUSDT	+0.0102%	4h	0.6096	−0.074%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0144%	1h	0.6098	−0.048%	$380	—	3x	as long as short
Lighter RH PONS	+0.0160%	1h	0.6096	−0.074%	$430K	$2.6M	3x	as long as short
Aster PONSUSDT	+0.0181%	4h	0.6091	−0.162%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0240%	1h	0.6096	−0.067%	$1.7M	$921K	3x	as long as short
Extended PONS-USD	+0.0248%	1h	0.6096	−0.067%	$253K	$680K	5x	as long as short
Binance PONSUSDT	+0.0249%	4h	0.6086	−0.238%	$39.6M	$98.7M	20x	as long as short
MEXC PONS_USDT	+0.0250%	4h	0.6095	−0.090%	$8.1M	$4.8M	20x	as long as short
BingX PONS-USDT	+0.0252%	4h	0.6092	−0.139%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0258%	4h	0.6096	−0.075%	$21K	$292K	10x	as long as short
BloFin PONS-USDT	+0.0489%	4h	0.6098	−0.041%	$1.7M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0636%	1h	0.6093	−0.120%	$40K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0849%	1h	0.6097	−0.062%	$61.9M	$30.6M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6091	−0.157%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.6092	−0.138%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.1772%	4h	0.6091	−0.156%	$5.3M	$6.2M	20x	as long as short