Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.4% APRpaid last 24h +0.021%

Price spread now: HTX against gTrade (Gains Network)+0.897%51s7-day average +0.188% · 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—prices read too far apart to compare

costs, in and out, $10k−$4,87948.795% of the position

Long on gTrade (Gains Network)Short on HTX

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.025%+$2 on $10k

Price spread, last 4 days (all we have)−0.461%−$46 · spread now +0.897%, 7d avg +0.188%

Together, before fees−0.437%−$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and HTX is 0.709% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$71 more if the spread goes back to its 7-day average of +0.188%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.6028	L +0.0033% / S −0.0032%	pay 0.0004% / 1h	12m 25s	$239K	—	150x
Short	HTX PONS-USDT	0.6082	0.0100	get 0.0050% / 4h	12m 25s	$66K	$512K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee HTXbpOrdersPrice spread, now +0.897%Rate

Funding earned: $14.1
Price spread: +0.897% → +0.188%: $70.93
Slippage, 4 orders: −$4,855.46
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$4,794.43
Costs to cover: 48.795%
Break-even: 2387.7 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 47 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 gTrade (Gains Network) virtual book (oracle venue), 47 min ago	130.00 bp	2119.7 bp −$2,120	16867.9 bp −$168.7K	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/USDlong	L +0.0033% / S −0.0032%	1h	0.6028	long leg	$239K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.978%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6029	+0.009%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6076	+0.781%	$35K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6041	+0.207%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6080	+0.857%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6068	+0.656%	$26K	$532K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.6082	+0.897%	$66K	$512K	20x
Phemex PONSUSDT	+0.0100%	4h	0.6058	+0.491%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6037	+0.136%	$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	+0.747%	$1.4M	$3.9M	—	as long as short
Nado PONS-PERP	+0.0314%	1h	0.6037	+0.141%	$71K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0333%	4h	0.6032	+0.059%	$13.7M	$55.5M	20x	as long as short
Lighter PONS	+0.0424%	1h	0.6030	+0.026%	$1.7M	$893K	3x	as long as short
Bitget PONSUSDT	+0.0484%	4h	0.6033	+0.074%	$4.6M	$11.5M	20x	as long as short
Aster PONSUSDT	+0.0486%	4h	0.6032	+0.066%	$1.1M	$2.1M	20x	as long as short
Bybit PONSUSDT	+0.0494%	4h	0.6035	+0.109%	$18.0M	$30.8M	20x	as long as short
Gate PONS_USDT	+0.0500%	4h	0.6033	+0.076%	$5.3M	$6.3M	20x	as long as short
Lighter RH PONS	+0.0536%	1h	0.6026	−0.035%	$420K	$2.6M	3x	as long as short
BingX PONS-USDT	+0.0581%	4h	0.6037	+0.142%	—	$3.0M	—	as long as short
Binance PONSUSDT	+0.0614%	4h	0.6037	+0.150%	$39.5M	$95.3M	20x	as long as short
Extended PONS-USD	+0.0616%	1h	0.6032	+0.065%	$108K	$813K	5x	as long as short
MEXC PONS_USDT	+0.0616%	4h	0.6036	+0.126%	$7.7M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0627%	4h	0.6075	+0.766%	$18K	$294K	10x	as long as short
KuCoin PONSUSDTM	+0.0692%	4h	0.6032	+0.064%	$1.7M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0821%	1h	0.6038	+0.166%	$61.7M	$28.4M	3x	as long as short
BloFin PONS-USDT	+0.0858%	4h	0.6066	+0.623%	$1.7M	$966K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.6030	+0.021%	$47K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0883%	1h	0.6036	+0.124%	$76K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6056	+0.459%	$31K	$104K	3x	as long as short