Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: HTX against Popdex−0.145%7-day average +0.037% · 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−$588as in the Price arb table

costs, in and out, $10k−$5705.702% of the position

Long on Popdex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 4 days (all we have)+0.695%+$69 · spread now −0.145%, 7d avg +0.037%

Together, before fees+0.702%+$70 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 0.182% cheaper against Popdex than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex PONSUSDT	0.6343	0.0096	pay 0.0012% / 1h	17m 01s	$23K	$420K	20x
Short	HTX PONS-USDT	0.6334	0.0100	get 0.0050% / 4h	3h 17m	$67K	$528K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Popdex. 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 PopdexbpFee HTXbpOrdersPrice spread, now −0.145%Rate

Funding earned: $0.84
Price spread: −0.145% → +0.037%: −$18.21
Slippage, 4 orders: −$551.78
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee HTX: 6 bp × 2 orders: −$12
Net: −$587.56
Costs to cover: 5.702%
Break-even: 4903.3 days

Slippage from Popdex: live order book, 17 min ago; HTX: live order book, 16 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 Popdex live order book, 17 min ago	15.94 bp	129.4 bp −$129	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 16 min ago	32.92 bp	190.0 bp −$190	1632.8 bp −$16.3K	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	0.6328	−0.236%	$248K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−6.377%	$610	$10K	5.5x	as long as short
Popdex PONSUSDTlong	+0.0096%	1h	0.6343	long leg	$23K	$420K	20x
Nado PONS-PERP	+0.0100%	1h	0.6339	−0.056%	$74K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6307	−0.571%	$31K	$290K	5x	as long as short
Polymarket Perps PONS-USD	+0.0100%	1h	0.6337	−0.091%	$74K	$2.2M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6351	+0.134%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6341	−0.028%	—	$1.1M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6341	−0.025%	$27K	$624K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.6334	−0.145%	$67K	$528K	20x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6336	−0.110%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0256%	1h	0.6345	+0.039%	$395	—	3x	as long as short
Hyperliquid PONS	+0.0335%	1h	0.6341	−0.038%	$64.9M	$30.6M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0464%	4h	0.6332	−0.173%	$14.5M	$61.1M	20x	as long as short
Aster PONSUSDT	+0.0471%	4h	0.6338	−0.072%	$1.1M	$2.3M	20x	as long as short
Lighter RH PONS	+0.0480%	1h	0.6343	−0.002%	$432K	$2.7M	3x	as long as short
KuCoin PONSUSDTM	+0.0514%	4h	0.6344	+0.014%	$1.7M	$4.1M	20x	as long as short
Lighter PONS	+0.0608%	1h	0.6345	+0.030%	$1.8M	$872K	3x	as long as short
Variational Omni PONS	+0.0621%	4h	0.6308	−0.550%	$1.6M	$4.6M	—	as long as short
edgeX PONSUSDC	+0.0701%	4h	0.6330	−0.211%	$21K	$293K	10x	as long as short
MEXC PONS_USDT	+0.0706%	4h	0.6345	+0.032%	$8.1M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0709%	4h	0.6335	−0.126%	$41.8M	$103.6M	20x	as long as short
Extended PONS-USD	+0.0712%	1h	0.6344	+0.022%	$106K	$815K	5x	as long as short
Bitget PONSUSDT	+0.0740%	4h	0.6340	−0.044%	$5.1M	$13.2M	20x	as long as short
Pacifica PONS	+0.0853%	1h	0.6337	−0.099%	$48K	$77K	3x	as long as short
BloFin PONS-USDT	+0.0949%	4h	0.6343	0.000%	$1.8M	$1.1M	20x	as long as short
BingX PONS-USDT	+0.1072%	4h	0.6339	−0.063%	—	$3.2M	—	as long as short
Bybit PONSUSDT	+0.1208%	4h	0.6333	−0.158%	$19.3M	$33.1M	20x	as long as short
Phoenix PONS	+0.1714%	1h	0.6336	−0.117%	$48K	$159K	3x	as long as short
Gate PONS_USDT	+0.2310%	4h	0.6335	−0.126%	$5.5M	$6.5M	20x	as long as short