Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against HTX−0.109%7-day average −0.044% · 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−$446as in the Price arb table

costs, in and out, $10k−$4394.393% of the position

Long on HTX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.284%+$28 · spread now −0.109%, 7d avg −0.044%

Together, before fees+0.285%+$28 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: SoDEX is 0.064% cheaper against HTX than usual: you would sell low and buy high, −$6 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	0.5895	0.0100	pay 0.0050% / 4h	2h 30m	$64K	$513K	20x
Short	SoDEX PONS-USD	0.5889	0.0100	get 0.0013% / 1h	30m 07s	$25K	$547K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.109%Rate

Funding earned: $0
Price spread: −0.109% → −0.044%: −$6.41
Slippage, 4 orders: −$419.26
Fee HTX: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$445.67
Costs to cover: 4.393%
Break-even: never at this rate

Slippage from HTX: live order book, 18 min ago; SoDEX: live order book, 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, 18 min ago	39.41 bp	133.0 bp −$133	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX live order book, 19 min ago	2.52 bp	66.3 bp −$66	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/USD	L +0.0033% / S −0.0032%	1h	0.5879	−0.279%	$234K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.264%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5887	−0.142%	$411K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5890	−0.085%	$21K	$418K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5886	−0.154%	$69K	$130K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5888	−0.119%	$5.2M	$6.2M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5873	−0.366%	$29K	$332K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5893	−0.039%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5884	−0.187%	—	$1.3M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.5889	−0.109%	$25K	$547K	3x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDTlong	+0.0100%	4h	0.5895	long leg	$64K	$513K	20x
Phemex PONSUSDT	+0.0100%	4h	0.5898	+0.051%	$1.6M	$3.2M	20x	as long as short
Hyperliquid PONS	+0.0227%	1h	0.5888	−0.126%	$60.0M	$29.2M	3x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5886	−0.145%	$367	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0375%	4h	0.5888	−0.119%	$13.3M	$54.5M	20x	as long as short
Aster PONSUSDT	+0.0470%	4h	0.5886	−0.149%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0544%	1h	0.5891	−0.073%	$1.6M	$887K	3x	as long as short
Bitget PONSUSDT	+0.0574%	4h	0.5891	−0.071%	$4.6M	$11.9M	20x	as long as short
Variational Omni PONS	+0.0594%	4h	0.5889	−0.109%	$1.4M	$4.1M	—	as long as short
MEXC PONS_USDT	+0.0598%	4h	0.5891	−0.068%	$7.4M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0599%	4h	0.5892	−0.053%	$38.4M	$94.9M	20x	as long as short
Extended PONS-USD	+0.0600%	1h	0.5889	−0.095%	$100K	$812K	5x	as long as short
edgeX PONSUSDC	+0.0621%	4h	0.5885	−0.177%	$20K	$296K	10x	as long as short
Pacifica PONS	+0.0715%	1h	0.5887	−0.128%	$46K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0736%	4h	0.5891	−0.075%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0800%	1h	0.5888	−0.114%	$109K	$1.7M	3x	as long as short
BingX PONS-USDT	+0.0826%	4h	0.5893	−0.034%	—	$3.0M	—	as long as short
BloFin PONS-USDT	+0.0839%	4h	0.5885	−0.170%	$1.7M	$939K	20x	as long as short
Bybit PONSUSDT	+0.0874%	4h	0.5889	−0.102%	$17.6M	$31.0M	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5935	+0.685%	$45K	$121K	3x	as long as short