Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1191%/8h= −130.5% APRpaid last 24h −0.153%

Price spread now: HTX against Polymarket Perps+0.200%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$406as in the Funding arb table

Net, price: spread back to 7d avg − costs−$331as in the Price arb table

costs, in and out, $10k−$3473.467% of the position

Long on Polymarket Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.590%−$59 on $10k

Price spread, last 4 days (all we have)−0.236%−$24 · spread now +0.200%, 7d avg +0.040%

Together, before fees−0.826%−$83 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.160% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.200% now, against its 7-day average of +0.040%): +$16 on $10k if it goes back. Holding the pair costs −$36 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.590% in total) that is about 46 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.590% in total (about -30.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PONS-USD	0.6094	0.1291	pay 0.0161% / 1h	51m 03s	$73K	$2.0M	3x
Short	HTX PONS-USDT	0.6107	0.0100	get 0.0050% / 4h	51m 03s	$66K	$534K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Polymarket Perps. 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 Polymarket PerpsbpFee HTXbpOrdersPrice spread, now +0.200%Rate

Funding earned: −$250.19
Price spread: +0.200% → +0.040%: $15.99
Slippage, 4 orders: −$326.67
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$580.87
Costs to cover: 3.467%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 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 Polymarket Perps live order book, 3 min ago	4.95 bp	27.2 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 52 min ago	33.76 bp	171.9 bp −$172	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	0.6085	−0.148%	$242K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6095	+0.010%	$22K	$438K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6056	−0.630%	$30K	$305K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6107	+0.210%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6083	−0.192%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6100	+0.092%	$26K	$600K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.6107	+0.200%	$66K	$534K	20x
Phemex PONSUSDT	+0.0100%	4h	0.6092	−0.039%	$1.7M	$3.2M	20x	as long as short
Nado PONS-PERP	+0.0145%	1h	0.6092	−0.047%	$71K	$130K	5x	as long as short
Aevo PONS-PERP	+0.0200%	1h	0.6104	+0.160%	$380	—	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	+0.0397%	4h	0.6098	+0.059%	$13.8M	$57.7M	20x	as long as short
edgeX PONSUSDC	+0.0462%	4h	0.6060	−0.569%	$20K	$290K	10x	as long as short
Gate PONS_USDT	+0.0476%	4h	0.6083	−0.187%	$5.4M	$6.3M	20x	as long as short
Aster PONSUSDT	+0.0483%	4h	0.6102	+0.121%	$1.2M	$2.3M	20x	as long as short
MEXC PONS_USDT	+0.0484%	4h	0.6100	+0.092%	$7.9M	$4.6M	20x	as long as short
Variational Omni PONS	+0.0495%	4h	0.5907	−3.068%	$1.4M	$4.1M	—	as long as short
Extended PONS-USD	+0.0504%	1h	0.6101	+0.114%	$104K	$818K	5x	as long as short
Binance PONSUSDT	+0.0508%	4h	0.6103	+0.141%	$38.8M	$99.9M	20x	as long as short
KuCoin PONSUSDTM	+0.0562%	4h	0.6102	+0.130%	$1.6M	$3.9M	20x	as long as short
Pacifica PONS	+0.0572%	1h	0.6085	−0.148%	$46K	$68K	3x	as long as short
Bybit PONSUSDT	+0.0624%	4h	0.6100	+0.092%	$18.3M	$31.6M	20x	as long as short
BingX PONS-USDT	+0.0636%	4h	0.6100	+0.092%	—	$3.0M	—	as long as short
Bitget PONSUSDT	+0.0674%	4h	0.6102	+0.130%	$4.8M	$12.5M	20x	as long as short
BloFin PONS-USDT	+0.0748%	4h	0.6099	+0.075%	$1.7M	$971K	20x	as long as short
Lighter PONS	+0.0776%	1h	0.6102	+0.121%	$1.7M	$835K	3x	as long as short
Lighter RH PONS	+0.0832%	1h	0.6098	+0.053%	$418K	$2.6M	3x	as long as short
Hyperliquid PONS	+0.0991%	1h	0.6100	+0.094%	$62.1M	$29.8M	3x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−2.558%	$610	$10K	5.5x	as long as short
Polymarket Perps PONS-USDlong	+0.1291%	1h	0.6094	long leg	$73K	$2.0M	3x
Phoenix PONS	+0.1405%	1h	0.6068	−0.433%	$46K	$127K	3x	as long as short