Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0420%/8h= −46.0% APRpaid last 24h −0.099%

Price spread now: HTX against Extended+0.364%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$415as in the Funding arb table

Net, price: spread back to 7d avg − costs−$327as in the Price arb table

costs, in and out, $10k−$3573.569% of the position

Long on Extended Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.581%−$58 on $10k

Price spread, last 4 days (all we have)−0.333%−$33 · spread now +0.364%, 7d avg +0.068%

Together, before fees−0.914%+ Points / potential airdropExtended: Active · farm board−$91 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.296% dearer against Extended than usual: you sell high and buy low (spread +0.364% now, against its 7-day average of +0.068%): +$30 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.5942	0.0520	pay 0.0065% / 1h	22m 24s	$102K	$808K	5x
Short	HTX PONS-USDT	0.5963	0.0100	get 0.0050% / 4h	1h 22m	$65K	$525K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Extended. 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 ExtendedbpFee HTXbpOrdersPrice spread, now +0.364%Rate

Funding earned: −$88.2
Price spread: +0.364% → +0.068%: $29.55
Slippage, 4 orders: −$339.88
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$415.53
Costs to cover: 3.569%
Break-even: never at this rate

Slippage from Extended: live order book, 21 min ago; HTX: live order book, 21 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 Extended live order book, 21 min ago	9.30 bp	23.3 bp −$23	209.9 bp −$2,099	doesn't fit	doesn't fit
Sell HTX live order book, 21 min ago	33.76 bp	171.9 bp −$172	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 +0.0032% / S −0.0030%	1h	0.5942	+0.015%	$243K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.470%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5942	+0.007%	$22K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5959	+0.292%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5944	+0.043%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5925	−0.281%	$29K	$314K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5952	+0.174%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5952	+0.184%	$26K	$583K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.5963	+0.364%	$65K	$525K	20x
Phemex PONSUSDT	+0.0100%	4h	0.5945	+0.058%	$1.6M	$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	+0.0112%	1h	0.5947	+0.085%	$419K	$2.6M	3x	as long as short
Hyperliquid PONS	+0.0188%	1h	0.5939	−0.035%	$60.3M	$29.5M	3x	as long as short
Aevo PONS-PERP	+0.0208%	1h	0.5964	+0.369%	$372	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0405%	4h	0.5939	−0.043%	$13.4M	$55.8M	20x	as long as short
Aster PONSUSDT	+0.0466%	4h	0.5945	+0.064%	$1.1M	$2.2M	20x	as long as short
Binance PONSUSDT	+0.0516%	4h	0.5943	+0.024%	$37.4M	$98.4M	20x	as long as short
Polymarket Perps PONS-USD	+0.0518%	1h	0.5942	+0.012%	$92K	$1.9M	3x	as long as short
MEXC PONS_USDT	+0.0518%	4h	0.5940	−0.026%	$7.6M	$4.7M	20x	as long as short
Extended PONS-USDlong	+0.0520%	1h	0.5942	long leg	$102K	$808K	5x
edgeX PONSUSDC	+0.0526%	4h	0.5925	−0.286%	$20K	$291K	10x	as long as short
Pacifica PONS	+0.0556%	1h	0.5948	+0.106%	$45K	$68K	3x	as long as short
Variational Omni PONS	+0.0590%	4h	0.5938	−0.052%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0606%	4h	0.5943	+0.029%	$1.6M	$3.8M	20x	as long as short
Bitget PONSUSDT	+0.0678%	4h	0.5943	+0.031%	$4.7M	$12.2M	20x	as long as short
BingX PONS-USDT	+0.0686%	4h	0.5942	+0.007%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0718%	4h	0.5938	−0.060%	$17.6M	$31.3M	20x	as long as short
Gate PONS_USDT	+0.0754%	4h	0.5944	+0.041%	$5.3M	$6.3M	20x	as long as short
BloFin PONS-USDT	+0.0758%	4h	0.5952	+0.175%	$1.7M	$948K	20x	as long as short
Lighter PONS	+0.0888%	1h	0.5951	+0.162%	$1.7M	$832K	3x	as long as short
Phoenix PONS	+0.1472%	1h	0.5964	+0.376%	$45K	$127K	3x	as long as short