Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.018%

Price spread now: gTrade (Gains Network) against HTX−0.366%7-day average −0.173% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$4,917as in the Price arb table

costs, in and out, $10k−$4,89848.982% of the position

Long on HTX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.017%−$2 on $10k

Price spread, last 3 days (all we have)+0.098%+$10 · spread now −0.366%, 7d avg −0.173%

Together, before fees+0.081%+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and gTrade (Gains Network) is 0.193% cheaper against HTX than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.173%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PONS-USDT	0.6013	0.0100	pay 0.0050% / 4h	1h 06m	$64K	$506K	20x
Short	gTrade (Gains Network) PONS/USD	0.5991	L +0.0033% / S −0.0036%	get 0.0005% / 1h	6m 58s	$226K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against HTX. 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 HTXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.366%Rate

Funding earned: −$13.4
Price spread: −0.366% → −0.173%: −$19.3
Slippage, 4 orders: −$4,874.17
Fee HTX: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,930.88
Costs to cover: 48.982%
Break-even: never at this rate

Slippage from HTX: live order book, 11 min ago; gTrade (Gains Network): virtual book (oracle venue), 12 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 HTX live order book, 11 min ago	19.60 bp	154.5 bp −$155	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 12 min ago	130.01 bp	2470.8 bp −$2,471	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/USDshort	L +0.0033% / S −0.0036%	1h	0.5991	−0.366%	$226K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.720%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6002	−0.180%	$21K	$439K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6007	−0.096%	$18.0M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6006	−0.113%	$13.6M	$56.6M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6004	−0.150%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.6009	−0.055%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5976	−0.609%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5995	−0.293%	$35K	$354K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6008	−0.081%	$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	0.6001	−0.198%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6001	−0.198%	$27K	$545K	3x	as long as short
HTX PONS-USDTlong	+0.0100%	4h	0.6013	long leg	$64K	$506K	20x
Phemex PONSUSDT	+0.0100%	4h	0.6002	−0.180%	$1.7M	$3.3M	20x	as long as short
Aster PONSUSDT	+0.0123%	4h	0.5999	−0.236%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.6001	−0.188%	$374	—	3x	as long as short
MEXC PONS_USDT	+0.0178%	4h	0.6003	−0.163%	$7.8M	$4.9M	20x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.6000	−0.213%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0184%	1h	0.6002	−0.183%	$248K	$667K	5x	as long as short
Binance PONSUSDT	+0.0184%	4h	0.6004	−0.146%	$39.1M	$97.9M	20x	as long as short
edgeX PONSUSDC	+0.0202%	4h	0.5981	−0.533%	$21K	$292K	10x	as long as short
Nado PONS-PERP	+0.0204%	1h	0.5999	−0.223%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0256%	1h	0.6002	−0.181%	$424K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0424%	4h	0.6001	−0.196%	$1.7M	$981K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5996	−0.284%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0483%	1h	0.6001	−0.203%	$37K	$1.7M	3x	as long as short
Lighter PONS	+0.0632%	1h	0.6002	−0.181%	$1.7M	$1.0M	3x	as long as short
Hyperliquid PONS	+0.0685%	1h	0.6004	−0.145%	$60.8M	$30.1M	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.5978	−0.584%	$30K	$96K	3x	as long as short
Gate PONS_USDT	+0.1522%	4h	0.5996	−0.279%	$5.2M	$6.5M	20x	as long as short