Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h −0.064%

Price spread now: HTX against Nado+0.155%7-day average +0.042% · 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−$393as in the Price arb table

costs, in and out, $10k−$4044.040% of the position

Long on Nado Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.161%−$16 on $10k

Price spread, last 3 days (all we have)−0.175%−$18 · spread now +0.155%, 7d avg +0.042%

Together, before fees−0.336%+ Points / potential airdropNado: Active · farm board−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.113% dearer against Nado than usual: you sell high and buy low (spread +0.155% now, against its 7-day average of +0.042%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PONS-PERP	0.6052	0.0208	pay 0.0026% / 1h	16m 55s	$71K	$131K	5x
Short	HTX PONS-USDT	0.6061	0.0100	get 0.0050% / 4h	2h 16m	$65K	$509K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Nado. 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 NadobpFee HTXbpOrdersPrice spread, now +0.155%Rate

Funding earned: −$22.65
Price spread: +0.155% → +0.042%: $11.27
Slippage, 4 orders: −$392.04
Fee Nado: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$415.42
Costs to cover: 4.040%
Break-even: never at this rate

Slippage from Nado: live order book, 42 min ago; HTX: live order book, 52 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 Nado live order book, 42 min ago	14.65 bp	50.3 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 52 min ago	29.96 bp	169.9 bp −$170	doesn't fit	doesn't fit	doesn't fit

PONS on 29 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	0.6048	−0.058%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.361%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6060	+0.135%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6066	+0.240%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6062	+0.163%	$33K	$354K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6059	+0.118%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6067	+0.247%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6061	+0.151%	$26K	$524K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.6061	+0.155%	$65K	$509K	20x
Phemex PONSUSDT	+0.0100%	4h	0.6056	+0.069%	$1.7M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0168%	1h	0.6059	+0.113%	$426K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0184%	1h	0.6060	+0.143%	$378	—	3x	as long as short
Nado PONS-PERPlong	+0.0208%	1h	0.6052	long leg	$71K	$131K	5x
Lighter PONS	+0.0224%	1h	0.6059	+0.123%	$1.7M	$885K	3x	as long as short
KuCoin PONSUSDTM	+0.0242%	4h	0.6055	+0.044%	$1.7M	$3.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0249%	4h	0.6051	−0.014%	$13.9M	$55.1M	20x	as long as short
Bitget PONSUSDT	+0.0324%	4h	0.6056	+0.062%	$4.7M	$11.3M	20x	as long as short
Bybit PONSUSDT	+0.0352%	4h	0.6056	+0.069%	$18.2M	$30.5M	20x	as long as short
BingX PONS-USDT	+0.0400%	4h	0.6057	+0.085%	—	$3.0M	—	as long as short
Aster PONSUSDT	+0.0406%	4h	0.6053	+0.022%	$1.1M	$2.0M	20x	as long as short
MEXC PONS_USDT	+0.0420%	4h	0.6054	+0.036%	$7.8M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0424%	4h	0.6058	+0.102%	$39.7M	$94.8M	20x	as long as short
Extended PONS-USD	+0.0424%	1h	0.6053	+0.026%	$250K	$672K	5x	as long as short
edgeX PONSUSDC	+0.0433%	4h	0.6056	+0.077%	$21K	$293K	10x	as long as short
Gate PONS_USDT	+0.0636%	4h	0.6050	−0.030%	$5.3M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0676%	1h	0.6060	+0.135%	$61.7M	$28.0M	3x	as long as short
Polymarket Perps PONS-USD	+0.0749%	1h	0.6060	+0.132%	$46K	$1.5M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6051	−0.012%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6070	+0.303%	$31K	$107K	3x	as long as short