Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0489%/8h= −53.6% APRpaid last 24h −0.063%

Price spread now: HTX against Nado+0.365%7-day average +0.038% · 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−$382as in the Price arb table

costs, in and out, $10k−$4154.153% of the position

Long on Nado Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.153%−$15 on $10k

Price spread, last 3 days (all we have)−0.401%−$40 · spread now +0.365%, 7d avg +0.038%

Together, before fees−0.554%+ Points / potential airdropNado: Active · farm board−$55 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.328% dearer against Nado than usual: you sell high and buy low (spread +0.365% now, against its 7-day average of +0.038%): +$33 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 2.2 days. At the pace of the last 3 days (−0.153% in total) that is about 6.9 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.153% in total (about -17.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PONS-PERP	0.6124	0.0589	pay 0.0074% / 1h	8m 03s	$106K	$115K	5x
Short	HTX PONS-USDT	0.6147	0.0100	get 0.0050% / 4h	3h 08m	$65K	$510K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Nado. 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 NadobpFee HTXbpOrdersPrice spread, now +0.365%Rate

Funding earned: −$102.75
Price spread: +0.365% → +0.038%: $32.77
Slippage, 4 orders: −$403.26
Fee Nado: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$485.23
Costs to cover: 4.153%
Break-even: never at this rate

Slippage from Nado: live order book, 55 min ago; HTX: live order book, 65 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 Nado live order book, 55 min ago	13.85 bp	46.8 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 65 min ago	27.26 bp	165.6 bp −$166	1530.7 bp −$15.3K	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	0.6123	−0.025%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.526%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6134	+0.160%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6118	−0.102%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6111	−0.211%	$33K	$356K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6141	+0.272%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6134	+0.166%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6132	+0.135%	$26K	$542K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.6147	+0.365%	$65K	$510K	20x
Phemex PONSUSDT	+0.0100%	4h	0.6128	+0.062%	$1.7M	$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
Lighter RH PONS	+0.0144%	1h	0.6132	+0.124%	$434K	$2.6M	3x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.6135	+0.169%	$382	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0216%	4h	0.6127	+0.045%	$14.1M	$56.6M	20x	as long as short
KuCoin PONSUSDTM	+0.0226%	4h	0.6124	−0.010%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0276%	4h	0.6132	+0.124%	$4.8M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0340%	4h	0.6130	+0.090%	$1.1M	$2.0M	20x	as long as short
MEXC PONS_USDT	+0.0388%	4h	0.6128	+0.062%	$8.0M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0396%	4h	0.6131	+0.111%	$40.3M	$96.1M	20x	as long as short
edgeX PONSUSDC	+0.0398%	4h	0.6124	−0.010%	$21K	$291K	10x	as long as short
Extended PONS-USD	+0.0400%	1h	0.6131	+0.104%	$253K	$677K	5x	as long as short
Lighter PONS	+0.0488%	1h	0.6132	+0.132%	$1.7M	$943K	3x	as long as short
Nado PONS-PERPlong	+0.0589%	1h	0.6124	long leg	$106K	$115K	5x
BingX PONS-USDT	+0.0592%	4h	0.6128	+0.062%	—	$3.1M	—	as long as short
BloFin PONS-USDT	+0.0629%	4h	0.6135	+0.176%	$1.8M	$997K	20x	as long as short
Bybit PONSUSDT	+0.0633%	4h	0.6126	+0.029%	$18.5M	$30.8M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6127	+0.048%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0801%	1h	0.6131	+0.109%	$45K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0870%	1h	0.6130	+0.088%	$62.4M	$28.8M	3x	as long as short
Gate PONS_USDT	+0.1440%	4h	0.6129	+0.078%	$5.4M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6136	+0.192%	$32K	$113K	3x	as long as short