Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against SoDEX+0.230%7-day average +0.033% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$428as in the Price arb table

costs, in and out, $10k−$4484.475% of the position

Long on SoDEX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.414%−$41 · spread now +0.230%, 7d avg +0.033%

Together, before fees−0.414%−$41 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 0.198% dearer against SoDEX than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PONS-USD	0.6033	0.0100	pay 0.0013% / 1h	47m 45s	$27K	$553K	3x
Short	HTX PONS-USDT	0.6047	0.0100	get 0.0050% / 4h	3h 47m	$64K	$510K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against SoDEX. 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 SoDEXbpFee HTXbpOrdersPrice spread, now +0.230%Rate

Funding earned: $0
Price spread: +0.230% → +0.033%: $19.76
Slippage, 4 orders: −$427.52
Fee SoDEX: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$427.76
Costs to cover: 4.475%
Break-even: never at this rate

Slippage from SoDEX: live order book, 26 min ago; HTX: live order book, 26 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 SoDEX live order book, 26 min ago	0.82 bp	63.9 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 26 min ago	27.26 bp	165.6 bp −$166	1530.7 bp −$15.3K	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 +0.0033% / S −0.0033%	1h	0.6024	−0.151%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.053%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6031	−0.030%	$421K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6032	−0.017%	$20K	$416K	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6047	+0.232%	$13.7M	$57.2M	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.6037	+0.066%	$5.3M	$6.1M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6040	+0.109%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6054	+0.346%	$33K	$357K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6039	+0.096%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6036	+0.048%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USDlong	+0.0100%	1h	0.6033	long leg	$27K	$553K	3x
HTX PONS-USDTshort	+0.0100%	4h	0.6047	+0.230%	$64K	$510K	20x
Phemex PONSUSDT	+0.0100%	4h	0.6041	+0.133%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0158%	4h	0.6036	+0.045%	$1.7M	$3.8M	20x	as long as short
Aevo PONS-PERP	+0.0160%	1h	0.6049	+0.270%	$377	—	3x	as long as short
Aster PONSUSDT	+0.0172%	4h	0.6034	+0.022%	$1.1M	$2.2M	20x	as long as short
Bitget PONSUSDT	+0.0196%	4h	0.6051	+0.293%	$4.7M	$11.6M	20x	as long as short
Lighter PONS	+0.0280%	1h	0.6046	+0.220%	$1.7M	$894K	3x	as long as short
MEXC PONS_USDT	+0.0306%	4h	0.6041	+0.133%	$7.9M	$4.8M	20x	as long as short
edgeX PONSUSDC	+0.0309%	4h	0.6043	+0.161%	$21K	$293K	10x	as long as short
Binance PONSUSDT	+0.0311%	4h	0.6044	+0.177%	$39.6M	$97.8M	20x	as long as short
Extended PONS-USD	+0.0312%	1h	0.6039	+0.091%	$250K	$683K	5x	as long as short
BingX PONS-USDT	+0.0396%	4h	0.6047	+0.232%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0443%	1h	0.6033	0.000%	$104K	$116K	5x	as long as short
BloFin PONS-USDT	+0.0548%	4h	0.6060	+0.448%	$1.8M	$1.0M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6031	−0.041%	$48K	$87K	3x	as long as short
Bybit PONSUSDT	+0.0701%	4h	0.6048	+0.249%	$18.2M	$31.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0742%	1h	0.6032	−0.015%	$41K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0944%	1h	0.6050	+0.274%	$61.5M	$29.7M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6044	+0.174%	$31K	$113K	3x	as long as short