Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: HTX against Popdex+0.381%7-day average +0.018% · 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−$417as in the Price arb table

costs, in and out, $10k−$4534.533% of the position

Long on Popdex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 3 days (all we have)−0.386%−$39 · spread now +0.381%, 7d avg +0.018%

Together, before fees−0.383%−$38 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 0.363% dearer against Popdex than usual: you sell high and buy low, +$36 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex PONSUSDT	0.6040	0.0096	pay 0.0012% / 1h	52m 21s	$20K	$417K	20x
Short	HTX PONS-USDT	0.6063	0.0100	get 0.0050% / 4h	3h 52m	$65K	$510K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Popdex. 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 PopdexbpFee HTXbpOrdersPrice spread, now +0.381%Rate

Funding earned: $0.84
Price spread: +0.381% → +0.018%: $36.26
Slippage, 4 orders: −$434.86
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee HTX: 6 bp × 2 orders: −$12
Net: −$416.17
Costs to cover: 4.533%
Break-even: 3475.1 days

Slippage from Popdex: live order book, 21 min ago; HTX: live order book, 21 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 Popdex live order book, 21 min ago	3.69 bp	64.7 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 21 min ago	27.26 bp	165.6 bp −$166	1530.7 bp −$15.3K	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	−0.0138%	4h	0.6037	−0.050%	$5.3M	$6.1M	20x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6034	−0.101%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.167%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6040	−0.002%	$422K	$2.5M	3x	as long as short
Popdex PONSUSDTlong	+0.0096%	1h	0.6040	long leg	$20K	$417K	20x
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6036	−0.066%	$13.7M	$57.1M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6066	+0.425%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6071	+0.515%	$33K	$357K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6044	+0.066%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6042	+0.035%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USD	+0.0100%	1h	0.6037	−0.043%	$27K	$548K	3x	as long as short
HTX PONS-USDTshort	+0.0100%	4h	0.6063	+0.381%	$65K	$510K	20x
Phemex PONSUSDT	+0.0100%	4h	0.6041	+0.017%	$1.7M	$3.3M	20x	as long as short
Lighter PONS	+0.0120%	1h	0.6040	−0.002%	$1.7M	$894K	3x	as long as short
KuCoin PONSUSDTM	+0.0148%	4h	0.6033	−0.114%	$1.7M	$3.8M	20x	as long as short
Aster PONSUSDT	+0.0158%	4h	0.6037	−0.053%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0160%	1h	0.6057	+0.288%	$377	—	3x	as long as short
Bitget PONSUSDT	+0.0190%	4h	0.6038	−0.036%	$4.7M	$11.6M	20x	as long as short
Bybit PONSUSDT	+0.0195%	4h	0.6032	−0.132%	$18.1M	$31.2M	20x	as long as short
MEXC PONS_USDT	+0.0300%	4h	0.6038	−0.033%	$7.9M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0304%	1h	0.6039	−0.017%	$250K	$679K	5x	as long as short
Binance PONSUSDT	+0.0305%	4h	0.6036	−0.066%	$39.5M	$97.9M	20x	as long as short
edgeX PONSUSDC	+0.0317%	4h	0.6066	+0.433%	$21K	$292K	10x	as long as short
Nado PONS-PERP	+0.0420%	1h	0.6037	−0.051%	$104K	$116K	5x	as long as short
BloFin PONS-USDT	+0.0542%	4h	0.6042	+0.033%	$1.7M	$1.0M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6036	−0.061%	$48K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0722%	1h	0.6039	−0.020%	$41K	$1.6M	3x	as long as short
BingX PONS-USDT	+0.0916%	4h	0.6045	+0.083%	—	$3.1M	—	as long as short
Hyperliquid PONS	+0.0951%	1h	0.6040	+0.007%	$61.4M	$29.7M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6073	+0.551%	$31K	$113K	3x	as long as short