Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against HTX−0.171%7-day average −0.027% · 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−$445as in the Price arb table

costs, in and out, $10k−$4314.307% of the position

Long on HTX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.319%+$32 · spread now −0.171%, 7d avg −0.027%

Together, before fees+0.322%+$32 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: SoDEX is 0.144% cheaper against HTX than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PONS-USDT	0.6028	0.0100	pay 0.0050% / 4h	1h 04m	$65K	$506K	20x
Short	SoDEX PONS-USD	0.6018	0.0100	get 0.0013% / 1h	4m 56s	$27K	$545K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.171%Rate

Funding earned: $0
Price spread: −0.171% → −0.027%: −$14.38
Slippage, 4 orders: −$410.67
Fee HTX: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$445.05
Costs to cover: 4.307%
Break-even: never at this rate

Slippage from HTX: live order book, 13 min ago; SoDEX: live order book, 14 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, 13 min ago	19.60 bp	154.5 bp −$155	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX live order book, 14 min ago	1.67 bp	59.1 bp −$59	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 −0.0036%	1h	0.6007	−0.358%	$226K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.979%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6016	−0.207%	$16K	$444K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6018	−0.174%	$18.0M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6019	−0.158%	$13.6M	$56.7M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6021	−0.131%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.6023	−0.096%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6007	−0.354%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6007	−0.357%	$35K	$354K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6024	−0.068%	$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	0.6014	−0.246%	—	$1.4M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6018	−0.171%	$27K	$545K	3x
HTX PONS-USDTlong	+0.0100%	4h	0.6028	long leg	$65K	$506K	20x
Phemex PONSUSDT	+0.0100%	4h	0.6012	−0.274%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.6018	−0.169%	$375	—	3x	as long as short
Aster PONSUSDT	+0.0134%	4h	0.6020	−0.146%	$1.1M	$2.2M	20x	as long as short
BingX PONS-USDT	+0.0178%	4h	0.6017	−0.191%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0184%	1h	0.6020	−0.133%	$248K	$670K	5x	as long as short
edgeX PONSUSDC	+0.0185%	4h	0.6003	−0.417%	$21K	$293K	10x	as long as short
MEXC PONS_USDT	+0.0186%	4h	0.6021	−0.124%	$7.9M	$5.0M	20x	as long as short
Binance PONSUSDT	+0.0187%	4h	0.6022	−0.110%	$39.2M	$97.9M	20x	as long as short
Nado PONS-PERP	+0.0204%	1h	0.6018	−0.175%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0272%	1h	0.6018	−0.174%	$425K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0427%	4h	0.6019	−0.158%	$1.7M	$984K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.6014	−0.248%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0495%	1h	0.6017	−0.186%	$37K	$1.7M	3x	as long as short
Lighter PONS	+0.0632%	1h	0.6018	−0.174%	$1.7M	$1.0M	3x	as long as short
Hyperliquid PONS	+0.0687%	1h	0.6022	−0.111%	$60.9M	$30.1M	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.6015	−0.229%	$31K	$96K	3x	as long as short
Gate PONS_USDT	+0.1556%	4h	0.6012	−0.274%	$5.3M	$6.5M	20x	as long as short