Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Phemex+0.175%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$387as in the Funding arb table

Net, price: spread back to 7d avg − costs−$371as in the Price arb table

costs, in and out, $10k−$3863.857% of the position

Long on Phemex Short on HTX

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)−0.325%−$33 · spread now +0.175%, 7d avg +0.031%

Together, before fees−0.341%−$34 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: HTX is 0.145% dearer against Phemex than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.6107	0.0100	pay 0.0050% / 4h	3h 06m	$1.7M	$3.2M	20x
Short	HTX PONS-USDT	0.6118	0.0100	get 0.0050% / 4h	3h 06m	$65K	$509K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phemex. 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 PhemexbpFee HTXbpOrdersPrice spread, now +0.175%Rate

Funding earned: $0
Price spread: +0.175% → +0.031%: $14.47
Slippage, 4 orders: −$361.71
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$371.24
Costs to cover: 3.857%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; HTX: 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 Phemex live order book, 2 min ago	8.15 bp	44.4 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	29.96 bp	169.9 bp −$170	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 −0.0033%	1h	0.6102	−0.080%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.252%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6119	+0.196%	$20K	$414K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6105	−0.027%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6122	+0.252%	$34K	$356K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6115	+0.134%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6113	+0.103%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6109	+0.036%	$26K	$534K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.6118	+0.175%	$65K	$509K	20x
Phemex PONSUSDTlong	+0.0100%	4h	0.6107	long leg	$1.7M	$3.2M	20x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0160%	1h	0.6111	+0.064%	$433K	$2.6M	3x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.6111	+0.069%	$381	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0214%	4h	0.6104	−0.049%	$14.0M	$56.4M	20x	as long as short
KuCoin PONSUSDTM	+0.0224%	4h	0.6105	−0.031%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0282%	4h	0.6104	−0.052%	$4.8M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0342%	4h	0.6119	+0.196%	$1.1M	$2.0M	20x	as long as short
Extended PONS-USD	+0.0392%	1h	0.6109	+0.035%	$253K	$677K	5x	as long as short
edgeX PONSUSDC	+0.0393%	4h	0.6136	+0.469%	$21K	$292K	10x	as long as short
MEXC PONS_USDT	+0.0394%	4h	0.6111	+0.065%	$8.0M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0394%	4h	0.6111	+0.070%	$40.2M	$96.0M	20x	as long as short
Lighter PONS	+0.0480%	1h	0.6111	+0.064%	$1.7M	$946K	3x	as long as short
BingX PONS-USDT	+0.0588%	4h	0.6111	+0.065%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0589%	1h	0.6120	+0.208%	$106K	$115K	5x	as long as short
Bybit PONSUSDT	+0.0607%	4h	0.6104	−0.049%	$18.4M	$30.8M	20x	as long as short
BloFin PONS-USDT	+0.0634%	4h	0.6147	+0.655%	$1.8M	$999K	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6124	+0.286%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0801%	1h	0.6117	+0.167%	$45K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0864%	1h	0.6116	+0.147%	$62.2M	$28.9M	3x	as long as short
Gate PONS_USDT	+0.1530%	4h	0.6104	−0.049%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6136	+0.475%	$32K	$113K	3x	as long as short