Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0071%/8h= −7.8% APRpaid last 24h −0.020%

Price spread now: gTrade (Gains Network) against HTX+0.030%51s7-day average −0.190% · 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−$4,93349.325% of the position

Long on HTX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.023%−$2 on $10k

Price spread, last 4 days (all we have)−0.168%−$17 · spread now +0.030%, 7d avg −0.190%

Together, before fees−0.191%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.220% dearer against HTX than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of −0.190%): +$22 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 10 days. 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	HTX PONS-USDT	0.6142	0.0100	pay 0.0050% / 4h	19m 31s	$66K	$536K	20x
Short	gTrade (Gains Network) PONS/USD	0.6144	L +0.0032% / S −0.0029%	get 0.0004% / 1h	19m 31s	$234K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.030%Rate

Funding earned: −$14.96
Price spread: +0.030% → −0.190%: $22.05
Slippage, 4 orders: −$4,908.52
Fee HTX: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$4,925.43
Costs to cover: 49.325%
Break-even: never at this rate

Slippage from HTX: live order book, 19 min ago; gTrade (Gains Network): virtual book (oracle venue), 19 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, 19 min ago	39.13 bp	149.4 bp −$149	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 19 min ago	130.01 bp	2471.2 bp −$2,471	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/USDshort	L +0.0032% / S −0.0029%	1h	0.6144	+0.030%	$234K	—	150x
Popdex PONSUSDT	+0.0096%	1h	0.6159	+0.270%	$23K	$455K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6154	+0.192%	$72K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6139	−0.057%	$30K	$300K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6137	−0.088%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6128	−0.239%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6131	−0.190%	$26K	$639K	3x	as long as short
HTX PONS-USDTlong	+0.0100%	4h	0.6142	long leg	$66K	$536K	20x
Phemex PONSUSDT	+0.0100%	4h	0.6137	−0.088%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6133	−0.145%	$382	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PONS-USDT-SWAP	+0.0411%	4h	0.6156	+0.221%	$13.9M	$60.6M	20x	as long as short
Gate PONS_USDT	+0.0454%	4h	0.6144	+0.026%	$5.5M	$6.6M	20x	as long as short
Lighter RH PONS	+0.0456%	1h	0.6137	−0.088%	$416K	$2.7M	3x	as long as short
Lighter PONS	+0.0472%	1h	0.6137	−0.093%	$1.7M	$855K	3x	as long as short
Aster PONSUSDT	+0.0476%	4h	0.6150	+0.130%	$1.1M	$2.4M	20x	as long as short
Variational Omni PONS	+0.0490%	4h	0.6128	−0.236%	$1.5M	$4.2M	—	as long as short
KuCoin PONSUSDTM	+0.0542%	4h	0.6150	+0.132%	$1.6M	$4.0M	20x	as long as short
Pacifica PONS	+0.0572%	1h	0.6142	−0.007%	$46K	$77K	3x	as long as short
edgeX PONSUSDC	+0.0574%	4h	0.6138	−0.064%	$20K	$291K	10x	as long as short
MEXC PONS_USDT	+0.0582%	4h	0.6157	+0.238%	$7.7M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0584%	1h	0.6143	+0.007%	$103K	$828K	5x	as long as short
Binance PONSUSDT	+0.0587%	4h	0.6157	+0.237%	$40.0M	$105.0M	20x	as long as short
Hyperliquid PONS	+0.0621%	1h	0.6157	+0.238%	$62.5M	$30.4M	3x	as long as short
Bybit PONSUSDT	+0.0649%	4h	0.6159	+0.270%	$18.3M	$32.9M	20x	as long as short
BingX PONS-USDT	+0.0668%	4h	0.6152	+0.156%	—	$3.2M	—	as long as short
Bitget PONSUSDT	+0.0702%	4h	0.6162	+0.313%	$4.9M	$13.0M	20x	as long as short
BloFin PONS-USDT	+0.0830%	4h	0.6127	−0.251%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.1042%	1h	0.6159	+0.270%	$73K	$2.3M	3x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−3.320%	$610	$10K	5.5x	as long as short
Phoenix PONS	+0.1405%	1h	0.6131	−0.187%	$47K	$127K	3x	as long as short