Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against HTX−0.275%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$445as in the Price arb table

costs, in and out, $10k−$4224.215% of the position

Long on HTX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.348%+$35 · spread now −0.275%, 7d avg −0.040%

Together, before fees+0.352%+$35 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: SoDEX is 0.235% 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 −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PONS-USDT	0.5927	0.0100	pay 0.0050% / 4h	49m 53s	$64K	$512K	20x
Short	SoDEX PONS-USD	0.5911	0.0100	get 0.0013% / 1h	49m 53s	$25K	$524K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.275%Rate

Funding earned: $0
Price spread: −0.275% → −0.040%: −$23.49
Slippage, 4 orders: −$401.52
Fee HTX: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$445.01
Costs to cover: 4.215%
Break-even: never at this rate

Slippage from HTX: live order book, 9 min ago; SoDEX: live order book, 9 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, 9 min ago	39.36 bp	108.5 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX live order book, 9 min ago	1.01 bp	71.7 bp −$72	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 +0.0033% / S −0.0032%	1h	0.5903	−0.402%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.712%	$614	$10K	5.5x	as long as short
Lighter PONS	+0.0096%	1h	0.5913	−0.248%	$1.6M	$880K	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5913	−0.241%	$20K	$435K	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5906	−0.359%	$5.2M	$6.2M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5933	+0.088%	$34K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5918	−0.164%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5910	−0.285%	—	$1.3M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.5911	−0.275%	$25K	$524K	3x
HTX PONS-USDTlong	+0.0100%	4h	0.5927	long leg	$64K	$512K	20x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.5921	−0.106%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0175%	4h	0.5914	−0.217%	$1.4M	$3.9M	—	as long as short
Aevo PONS-PERP	+0.0208%	1h	0.5912	−0.264%	$368	—	3x	as long as short
Nado PONS-PERP	+0.0273%	1h	0.5909	−0.309%	$69K	$129K	5x	as long as short
Lighter RH PONS	+0.0280%	1h	0.5914	−0.226%	$404K	$2.4M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0335%	4h	0.5904	−0.393%	$13.4M	$53.9M	20x	as long as short
Aster PONSUSDT	+0.0387%	4h	0.5906	−0.352%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0444%	4h	0.5908	−0.322%	$4.6M	$11.4M	20x	as long as short
Bybit PONSUSDT	+0.0447%	4h	0.5905	−0.376%	$17.6M	$30.7M	20x	as long as short
BingX PONS-USDT	+0.0504%	4h	0.5908	−0.326%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0520%	1h	0.5904	−0.385%	$106K	$808K	5x	as long as short
MEXC PONS_USDT	+0.0522%	4h	0.5908	−0.326%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0524%	4h	0.5908	−0.330%	$38.8M	$94.8M	20x	as long as short
edgeX PONSUSDC	+0.0538%	4h	0.5923	−0.074%	$18K	$292K	10x	as long as short
KuCoin PONSUSDTM	+0.0544%	4h	0.5910	−0.290%	$1.6M	$3.7M	20x	as long as short
BloFin PONS-USDT	+0.0764%	4h	0.5918	−0.157%	$1.7M	$951K	20x	as long as short
Hyperliquid PONS	+0.0798%	1h	0.5912	−0.260%	$60.2M	$27.8M	3x	as long as short
Pacifica PONS	+0.0859%	1h	0.5913	−0.246%	$47K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0913%	1h	0.5912	−0.265%	$66K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.5937	+0.157%	$31K	$104K	3x	as long as short