Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.150%

Price spread now: Bybit against HTX−0.169%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$329as in the Funding arb table

Net, price: spread back to 7d avg − costs−$377as in the Price arb table

costs, in and out, $10k−$3653.647% of the position

Long on HTX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.354%+$35 on $10k

Price spread, last 3 days (all we have)−0.469%−$47 · spread now −0.169%, 7d avg −0.044%

Together, before fees−0.115%−$12 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: Bybit is 0.125% cheaper against HTX than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PONS-USDT	0.5908	0.0100	pay 0.0050% / 4h	3h 23m	$64K	$503K	20x
Short	Bybit PONSUSDT	0.5898	0.0100	get 0.0050% / 4h	3h 23m	$17.9M	$31.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.169%Rate

Funding earned: $0
Price spread: −0.169% → −0.044%: −$12.49
Slippage, 4 orders: −$341.66
Fee HTX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$377.15
Costs to cover: 3.647%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; Bybit: live order book, 5 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, 4 min ago	17.23 bp	145.9 bp −$146	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	3.38 bp	16.7 bp −$17	38.2 bp −$382	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
Gate PONS_USDT	−0.0272%	4h	0.5900	−0.135%	$5.2M	$7.0M	20x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0032%	1h	0.5894	−0.241%	$211K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5863	−0.763%	$603	$3K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5898	−0.169%	$21K	$472K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5899	−0.149%	$79K	$100K	5x	as long as short
Hyperliquid PONS	+0.0100%	1h	0.5902	−0.105%	$58.6M	$29.3M	3x	as long as short
Bybit PONSUSDTshort	+0.0100%	4h	0.5898	−0.169%	$17.9M	$31.3M	20x
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5898	−0.169%	$13.3M	$55.7M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5899	−0.154%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5902	−0.105%	$4.6M	$11.5M	20x	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	+0.0100%	4h	0.5922	+0.238%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5922	+0.237%	$34K	$319K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5902	−0.105%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5900	−0.135%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5898	−0.166%	$27K	$527K	3x	as long as short
HTX PONS-USDTlong	+0.0100%	4h	0.5908	long leg	$64K	$503K	20x
Phemex PONSUSDT	+0.0100%	4h	0.5897	−0.186%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5900	−0.134%	$368	—	3x	as long as short
MEXC PONS_USDT	+0.0196%	4h	0.5899	−0.152%	$7.6M	$5.3M	20x	as long as short
Binance PONSUSDT	+0.0197%	4h	0.5900	−0.131%	$38.4M	$98.3M	20x	as long as short
Extended PONS-USD	+0.0200%	1h	0.5900	−0.131%	$91K	$521K	5x	as long as short
BingX PONS-USDT	+0.0202%	4h	0.5902	−0.102%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0212%	4h	0.5914	+0.109%	$21K	$291K	10x	as long as short
Aster PONSUSDT	+0.0241%	4h	0.5899	−0.158%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0279%	1h	0.5901	−0.125%	$47K	$111K	3x	as long as short
Lighter RH PONS	+0.0336%	1h	0.5901	−0.124%	$396K	$2.5M	3x	as long as short
BloFin PONS-USDT	+0.0437%	4h	0.5893	−0.254%	$1.7M	$973K	20x	as long as short
Polymarket Perps PONS-USD	+0.0465%	1h	0.5898	−0.174%	$46K	$1.8M	3x	as long as short
Lighter PONS	+0.1096%	1h	0.5907	−0.015%	$1.7M	$878K	3x	as long as short
Phoenix PONS	+0.1232%	1h	0.5918	+0.166%	$27K	$80K	3x	as long as short