Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0706%/8h= +77.3% APRpaid last 24h +0.134%

Price spread now: Polymarket Perps against HTX−0.173%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$280as in the Funding arb table

Net, price: spread back to 7d avg − costs−$349as in the Price arb table

costs, in and out, $10k−$3353.353% of the position

Long on HTX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.551%+$55 on $10k

Price spread, last 4 days (all we have)−0.400%−$40 · spread now −0.173%, 7d avg −0.035%

Together, before fees+0.151%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.138% cheaper against HTX than usual: you would sell low and buy high (spread −0.173% now, against its 7-day average of −0.035%). If the spread goes back, that is −$14 on $10k: about 16 hours of funding at the current rate (+$21 a day). At the pace of the last 7 days (+0.551% in total) that is about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PONS-USDT	0.6003	0.0100	pay 0.0050% / 4h	1h 17m	$64K	$508K	20x
Short	Polymarket Perps PONS-USD	0.5992	0.0806	get 0.0101% / 1h	17m 39s	$51K	$1.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.173%Rate

Funding earned: $148.24
Price spread: −0.173% → −0.035%: −$13.8
Slippage, 4 orders: −$315.26
Fee HTX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$200.81
Costs to cover: 3.353%
Break-even: 16.5 days

Slippage from HTX: live order book, 46 min ago; Polymarket Perps: live order book, 1 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, 46 min ago	29.48 bp	166.7 bp −$167	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	2.42 bp	6.7 bp −$7	7.5 bp −$75	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 +0.0033% / S −0.0033%	1h	0.5976	−0.438%	$237K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.553%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6024	+0.355%	$21K	$434K	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.6011	+0.138%	$5.3M	$6.3M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5984	−0.318%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5997	−0.100%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5992	−0.175%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5990	−0.217%	$26K	$523K	3x	as long as short
HTX PONS-USDTlong	+0.0100%	4h	0.6003	long leg	$64K	$508K	20x
Phemex PONSUSDT	+0.0100%	4h	0.5990	−0.212%	$1.6M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONS	+0.0189%	4h	0.5977	−0.430%	$1.4M	$3.9M	—	as long as short
Nado PONS-PERP	+0.0207%	1h	0.5996	−0.112%	$70K	$129K	5x	as long as short
Aevo PONS-PERP	+0.0208%	1h	0.5992	−0.177%	$373	—	3x	as long as short
Lighter RH PONS	+0.0216%	1h	0.6025	+0.371%	$415K	$2.5M	3x	as long as short
Lighter PONS	+0.0288%	1h	0.6016	+0.223%	$1.7M	$875K	3x	as long as short
OKX PONS-USDT-SWAP	+0.0304%	4h	0.6025	+0.371%	$13.7M	$55.0M	20x	as long as short
Bitget PONSUSDT	+0.0406%	4h	0.6025	+0.365%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0421%	4h	0.5991	−0.197%	$1.1M	$2.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0430%	4h	0.6029	+0.441%	$1.7M	$3.7M	20x	as long as short
BingX PONS-USDT	+0.0488%	4h	0.6025	+0.371%	—	$3.0M	—	as long as short
edgeX PONSUSDC	+0.0489%	4h	0.5988	−0.238%	$18K	$293K	10x	as long as short
Extended PONS-USD	+0.0504%	1h	0.6022	+0.319%	$249K	$671K	5x	as long as short
Bybit PONSUSDT	+0.0505%	4h	0.6021	+0.305%	$18.0M	$30.5M	20x	as long as short
MEXC PONS_USDT	+0.0506%	4h	0.6030	+0.455%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0508%	4h	0.6022	+0.327%	$39.4M	$94.2M	20x	as long as short
Hyperliquid PONS	+0.0718%	1h	0.5986	−0.287%	$61.0M	$27.8M	3x	as long as short
BloFin PONS-USDT	+0.0745%	4h	0.6008	+0.088%	$1.8M	$962K	20x	as long as short
Pacifica PONS	+0.0755%	1h	0.6017	+0.236%	$47K	$70K	3x	as long as short
Polymarket Perps PONS-USDshort	+0.0806%	1h	0.5992	−0.173%	$51K	$1.6M	3x
Phoenix PONS	+0.1639%	1h	0.5961	−0.690%	$31K	$98K	3x	as long as short