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 0.000%

Price spread now: HTX against Phemex+0.121%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$351as in the Funding arb table

Net, price: spread back to 7d avg − costs−$340as in the Price arb table

costs, in and out, $10k−$3503.498% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 3 days (all we have)−0.100%−$10 · spread now +0.121%, 7d avg +0.019%

Together, before fees−0.116%−$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: HTX is 0.103% dearer against Phemex than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.5930	0.0100	pay 0.0050% / 4h	3h 31m	$1.7M	$3.3M	20x
Short	HTX PONS-USDT	0.5937	0.0100	get 0.0050% / 4h	3h 31m	$64K	$506K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phemex. 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 PhemexbpFee HTXbpOrdersPrice spread, now +0.121%Rate

Funding earned: $0
Price spread: +0.121% → +0.019%: $10.27
Slippage, 4 orders: −$325.8
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$339.52
Costs to cover: 3.498%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; HTX: live order book, 17 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 Phemex live order book, 3 min ago	2.53 bp	35.1 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 17 min ago	42.15 bp	163.5 bp −$163	1481.4 bp −$14.8K	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	−0.0118%	4h	0.5935	+0.084%	$5.2M	$7.0M	20x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0032%	1h	0.5925	−0.089%	$212K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5863	−1.132%	$603	$3K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5929	−0.017%	$21K	$477K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5928	−0.031%	$73K	$95K	5x	as long as short
Hyperliquid PONS	+0.0100%	1h	0.5936	+0.094%	$58.9M	$29.5M	3x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5932	+0.034%	$17.8M	$31.4M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5931	+0.017%	$13.4M	$56.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5931	+0.019%	$1.9M	$3.6M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5934	+0.074%	$4.7M	$11.6M	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	0.5948	+0.305%	$1.3M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5936	+0.099%	$34K	$319K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5938	+0.143%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5932	+0.035%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5932	+0.040%	$27K	$528K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.5937	+0.121%	$64K	$506K	20x
Phemex PONSUSDTlong	+0.0100%	4h	0.5930	long leg	$1.7M	$3.3M	20x
Aevo PONS-PERP	+0.0128%	1h	0.5934	+0.067%	$370	—	3x	as long as short
BingX PONS-USDT	+0.0196%	4h	0.5933	+0.051%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0198%	4h	0.5931	+0.017%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0198%	4h	0.5929	−0.013%	$38.6M	$98.7M	20x	as long as short
Extended PONS-USD	+0.0200%	1h	0.5929	−0.012%	$92K	$529K	5x	as long as short
edgeX PONSUSDC	+0.0222%	4h	0.5934	+0.076%	$21K	$293K	10x	as long as short
Aster PONSUSDT	+0.0253%	4h	0.5931	+0.021%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0279%	1h	0.5930	−0.003%	$47K	$111K	3x	as long as short
Lighter RH PONS	+0.0352%	1h	0.5935	+0.086%	$398K	$2.5M	3x	as long as short
BloFin PONS-USDT	+0.0438%	4h	0.5937	+0.118%	$1.7M	$984K	20x	as long as short
Polymarket Perps PONS-USD	+0.0476%	1h	0.5933	+0.047%	$49K	$1.8M	3x	as long as short
Phoenix PONS	+0.1232%	1h	0.5933	+0.046%	$27K	$80K	3x	as long as short
Lighter PONS	+0.1240%	1h	0.5940	+0.164%	$1.7M	$861K	3x	as long as short