Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Phemex+0.279%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$370as in the Funding arb table

Net, price: spread back to 7d avg − costs−$344as in the Price arb table

costs, in and out, $10k−$3683.680% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.329%−$33 · spread now +0.279%, 7d avg +0.035%

Together, before fees−0.345%−$34 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 0.244% dearer against Phemex than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.6028	0.0100	pay 0.0050% / 4h	12m 12s	$1.7M	$3.2M	20x
Short	HTX PONS-USDT	0.6045	0.0100	get 0.0050% / 4h	12m 12s	$65K	$512K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phemex. 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 PhemexbpFee HTXbpOrdersPrice spread, now +0.279%Rate

Funding earned: $0
Price spread: +0.279% → +0.035%: $24.39
Slippage, 4 orders: −$344.03
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$343.64
Costs to cover: 3.680%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; HTX: live order book, 46 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 Phemex live order book, 2 min ago	3.29 bp	38.6 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 46 min ago	39.36 bp	180.0 bp −$180	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 −0.0032%	1h	0.6028	+0.007%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.970%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6029	+0.017%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6076	+0.788%	$35K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6041	+0.214%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6037	+0.154%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6033	+0.083%	$26K	$534K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.6045	+0.279%	$65K	$512K	20x
Phemex PONSUSDTlong	+0.0100%	4h	0.6028	long leg	$1.7M	$3.2M	20x
Aevo PONS-PERP	+0.0232%	1h	0.6037	+0.143%	$376	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONS	+0.0271%	4h	0.6073	+0.754%	$1.4M	$3.9M	—	as long as short
Nado PONS-PERP	+0.0314%	1h	0.6037	+0.148%	$71K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0333%	4h	0.6029	+0.017%	$13.7M	$55.5M	20x	as long as short
Lighter PONS	+0.0400%	1h	0.6033	+0.081%	$1.7M	$894K	3x	as long as short
Bitget PONSUSDT	+0.0484%	4h	0.6034	+0.101%	$4.6M	$11.5M	20x	as long as short
Aster PONSUSDT	+0.0486%	4h	0.6039	+0.174%	$1.1M	$2.1M	20x	as long as short
Bybit PONSUSDT	+0.0494%	4h	0.6030	+0.033%	$18.0M	$30.8M	20x	as long as short
Gate PONS_USDT	+0.0500%	4h	0.6029	+0.017%	$5.3M	$6.3M	20x	as long as short
Lighter RH PONS	+0.0536%	1h	0.6033	+0.081%	$420K	$2.6M	3x	as long as short
BingX PONS-USDT	+0.0586%	4h	0.6031	+0.050%	—	$3.0M	—	as long as short
Binance PONSUSDT	+0.0614%	4h	0.6023	−0.084%	$39.4M	$95.3M	20x	as long as short
Extended PONS-USD	+0.0616%	1h	0.6027	−0.019%	$108K	$813K	5x	as long as short
MEXC PONS_USDT	+0.0616%	4h	0.6032	+0.066%	$7.7M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0627%	4h	0.6075	+0.773%	$18K	$294K	10x	as long as short
KuCoin PONSUSDTM	+0.0692%	4h	0.6030	+0.038%	$1.7M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0821%	1h	0.6038	+0.173%	$61.7M	$28.4M	3x	as long as short
BloFin PONS-USDT	+0.0858%	4h	0.6066	+0.630%	$1.7M	$966K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.6030	+0.028%	$47K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0883%	1h	0.6036	+0.131%	$76K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6056	+0.466%	$31K	$104K	3x	as long as short