Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: HTX against Popdex+0.174%7-day average +0.031% · 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−$508as in the Price arb table

costs, in and out, $10k−$5235.227% of the position

Long on Popdex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.101%−$10 · spread now +0.174%, 7d avg +0.031%

Together, before fees−0.094%−$9 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 0.142% dearer against Popdex 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	Popdex PONSUSDT	0.5933	0.0096	pay 0.0012% / 1h	53m 50s	$21K	$417K	20x
Short	HTX PONS-USDT	0.5943	0.0100	get 0.0050% / 4h	2h 53m	$65K	$512K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Popdex. 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 PopdexbpFee HTXbpOrdersPrice spread, now +0.174%Rate

Funding earned: $0.84
Price spread: +0.174% → +0.031%: $14.25
Slippage, 4 orders: −$504.28
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee HTX: 6 bp × 2 orders: −$12
Net: −$507.59
Costs to cover: 5.227%
Break-even: 4236.9 days

Slippage from Popdex: live order book, 60 min ago; HTX: live order book, 60 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 Popdex live order book, 60 min ago	6.36 bp	81.2 bp −$81	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 60 min ago	40.47 bp	159.9 bp −$160	1482.8 bp −$14.8K	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	0.5923	−0.161%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.615%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5929	−0.059%	$417K	$2.5M	3x	as long as short
Popdex PONSUSDTlong	+0.0096%	1h	0.5933	long leg	$21K	$417K	20x
Nado PONS-PERP	+0.0100%	1h	0.5927	−0.107%	$69K	$130K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5932	−0.017%	$5.2M	$6.2M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5942	+0.160%	$34K	$335K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5942	+0.147%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5931	−0.037%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5934	+0.022%	$26K	$545K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDTshort	+0.0100%	4h	0.5943	+0.174%	$65K	$512K	20x
Phemex PONSUSDT	+0.0100%	4h	0.5934	+0.017%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.5937	+0.074%	$370	—	3x	as long as short
Hyperliquid PONS	+0.0346%	1h	0.5931	−0.035%	$60.1M	$28.9M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0389%	4h	0.5933	0.000%	$13.4M	$54.8M	20x	as long as short
Lighter PONS	+0.0424%	1h	0.5935	+0.034%	$1.6M	$886K	3x	as long as short
Aster PONSUSDT	+0.0512%	4h	0.5937	+0.065%	$1.1M	$2.2M	20x	as long as short
Variational Omni PONS	+0.0518%	4h	0.5941	+0.143%	$1.4M	$4.1M	—	as long as short
Bitget PONSUSDT	+0.0548%	4h	0.5935	+0.035%	$4.7M	$11.8M	20x	as long as short
edgeX PONSUSDC	+0.0614%	4h	0.5937	+0.063%	$18K	$292K	10x	as long as short
MEXC PONS_USDT	+0.0622%	4h	0.5940	+0.118%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0624%	4h	0.5937	+0.067%	$38.8M	$94.8M	20x	as long as short
Extended PONS-USD	+0.0624%	1h	0.5935	+0.032%	$106K	$807K	5x	as long as short
Pacifica PONS	+0.0715%	1h	0.5927	−0.100%	$46K	$68K	3x	as long as short
BingX PONS-USDT	+0.0738%	4h	0.5937	+0.067%	—	$3.0M	—	as long as short
KuCoin PONSUSDTM	+0.0742%	4h	0.5934	+0.017%	$1.6M	$3.8M	20x	as long as short
Bybit PONSUSDT	+0.0802%	4h	0.5933	0.000%	$17.8M	$31.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0828%	1h	0.5931	−0.034%	$88K	$1.7M	3x	as long as short
BloFin PONS-USDT	+0.0864%	4h	0.5937	+0.067%	$1.7M	$945K	20x	as long as short
Phoenix PONS	+0.1586%	1h	0.5915	−0.302%	$45K	$121K	3x	as long as short