Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.025%

Price spread now: HTX against Aevo+0.362%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on HTX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. HTX is 0.362% dearer against Aevo than usual: you sell high and buy low (spread +0.362% now, against zero (this spread has no 7-day history yet)): +$36 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PONS-PERP	0.6124	0.0160	pay 0.0020% / 1h	45m 13s	$382	—	3x
Short	HTX PONS-USDT	0.6146	0.0100	get 0.0050% / 4h	45m 13s	$65K	$509K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Aevo. 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 AevobpFee HTXbpOrdersPrice spread, now +0.362%Rate

Funding earned: −$12.6
Price spread: +0.362% → 0.000%: $36.15
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee HTX: 6 bp × 2 orders: −$12
Net: −$4.45
Costs to cover: 0.280%
Break-even: from the start

Slippage unknown: Aevo: no order-book sample; HTX: live order book, 33 min ago. Net counts fees only.

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 Aevo no order-book sample	—	—	—	—	—
Sell HTX live order book, 33 min ago	19.60 bp	153.1 bp −$153	1491.2 bp −$14.9K	doesn't fit	doesn't fit

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−2.521%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0034%	1h	0.6117	−0.120%	$236K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6124	+0.002%	$21K	$462K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6125	+0.019%	$87K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6120	−0.063%	$18.5M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6121	−0.047%	$13.9M	$58.4M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6136	+0.194%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6126	+0.035%	$33K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6130	+0.105%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6133	+0.143%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USD	+0.0100%	1h	0.6122	−0.022%	$28K	$548K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.6146	+0.362%	$65K	$509K	20x
Phemex PONSUSDT	+0.0100%	4h	0.6120	−0.063%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0110%	4h	0.6123	−0.012%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0118%	4h	0.6125	+0.012%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERPlong	+0.0160%	1h	0.6124	long leg	$382	—	3x
Aster PONSUSDT	+0.0193%	4h	0.6121	−0.041%	$1.1M	$2.2M	20x	as long as short
Lighter RH PONS	+0.0240%	1h	0.6125	+0.019%	$431K	$2.6M	3x	as long as short
Extended PONS-USD	+0.0296%	1h	0.6123	−0.013%	$254K	$682K	5x	as long as short
MEXC PONS_USDT	+0.0296%	4h	0.6125	+0.019%	$8.1M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0296%	4h	0.6125	+0.014%	$40.0M	$99.2M	20x	as long as short
BingX PONS-USDT	+0.0302%	4h	0.6120	−0.063%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0305%	4h	0.6150	+0.431%	$21K	$294K	10x	as long as short
Lighter PONS	+0.0320%	1h	0.6126	+0.028%	$1.7M	$921K	3x	as long as short
BloFin PONS-USDT	+0.0536%	4h	0.6133	+0.149%	$1.7M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0696%	1h	0.6125	+0.012%	$42K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6124	+0.008%	$48K	$96K	3x	as long as short
Hyperliquid PONS	+0.0959%	1h	0.6125	+0.015%	$62.2M	$30.8M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6150	+0.435%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2104%	4h	0.6120	−0.063%	$5.3M	$6.2M	20x	as long as short