Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0799%/8h= −87.4% APRpaid last 24h −0.089%

Price spread now: HTX against Pacifica+0.353%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$378as in the Funding arb table

Net, price: spread back to 7d avg − costs−$309as in the Price arb table

costs, in and out, $10k−$3413.406% of the position

Long on Pacifica Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.371%−$37 on $10k

Price spread, last 3 days (all we have)−0.210%−$21 · spread now +0.353%, 7d avg +0.036%

Together, before fees−0.581%+ Points / potential airdropPacifica: Active · farm board−$58 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.317% dearer against Pacifica than usual: you sell high and buy low (spread +0.353% now, against its 7-day average of +0.036%): +$32 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 32 hours. At the pace of the last 7 days (−0.371% in total) that is about 6.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.371% in total (about -19.4% 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	Pacifica PONS	0.6086	0.0899	pay 0.0112% / 1h	55m 07s	$48K	$96K	3x
Short	HTX PONS-USDT	0.6107	0.0100	get 0.0050% / 4h	55m 07s	$65K	$508K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Pacifica. 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 PacificabpFee HTXbpOrdersPrice spread, now +0.353%Rate

Funding earned: −$167.7
Price spread: +0.353% → +0.036%: $31.71
Slippage, 4 orders: −$320.56
Fee Pacifica: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$476.55
Costs to cover: 3.406%
Break-even: never at this rate

Slippage from Pacifica: live order book, 87 min ago; HTX: live order book, 23 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 Pacifica live order book, 87 min ago	6.26 bp	16.1 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 23 min ago	19.60 bp	153.1 bp −$153	1491.2 bp −$14.9K	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	−1.907%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6102	+0.270%	$230K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6079	−0.107%	$21K	$450K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6090	+0.073%	$86K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6114	+0.468%	$18.4M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6113	+0.451%	$13.9M	$58.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6112	+0.428%	$1.8M	$3.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6082	−0.055%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6091	+0.090%	$33K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6108	+0.369%	$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	0.6101	+0.261%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6112	+0.443%	$28K	$548K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.6107	+0.353%	$65K	$508K	20x
Phemex PONSUSDT	+0.0100%	4h	0.6106	+0.336%	$1.7M	$3.3M	20x	as long as short
Bitget PONSUSDT	+0.0110%	4h	0.6118	+0.532%	$4.8M	$11.7M	20x	as long as short
Lighter RH PONS	+0.0144%	1h	0.6107	+0.349%	$430K	$2.6M	3x	as long as short
Aevo PONS-PERP	+0.0144%	1h	0.6105	+0.319%	$380	—	3x	as long as short
Aster PONSUSDT	+0.0174%	4h	0.6101	+0.249%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0192%	1h	0.6108	+0.366%	$1.7M	$921K	3x	as long as short
Extended PONS-USD	+0.0248%	1h	0.6106	+0.334%	$251K	$680K	5x	as long as short
MEXC PONS_USDT	+0.0250%	4h	0.6113	+0.451%	$8.1M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0250%	4h	0.6116	+0.501%	$39.8M	$98.9M	20x	as long as short
BingX PONS-USDT	+0.0252%	4h	0.6112	+0.435%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0256%	4h	0.6092	+0.100%	$21K	$292K	10x	as long as short
BloFin PONS-USDT	+0.0490%	4h	0.6110	+0.402%	$1.7M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0761%	1h	0.6107	+0.354%	$40K	$1.7M	3x	as long as short
Pacifica PONSlong	+0.0899%	1h	0.6086	long leg	$48K	$96K	3x
Hyperliquid PONS	+0.1011%	1h	0.6121	+0.581%	$62.3M	$30.8M	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.6092	+0.108%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.1796%	4h	0.6104	+0.303%	$5.3M	$6.2M	20x	as long as short