Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0208%/8h= +22.8% APRpaid last 24h +0.159%

Price spread now: BingX against ApeX Omni−0.114%68s7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1071.074% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.646%+$65 on $10k

Price spread, last 3 days (all we have)+0.040%+$4 · spread now −0.114%, 7d avg −0.074%

Together, before fees+0.687%+$69 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.040% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.114% now, against its 7-day average of −0.074%). If the spread goes back, that is −$4 on $10k: about 15 hours of funding at the current rate (+$6 a day). The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PONSUSDT	0.6127	0.0100	pay 0.0013% / 1h	28m 26s	$34K	$359K	5x
Short	BingX PONS-USDT	0.6120	0.0308	get 0.0154% / 4h	28m 26s	—	$3.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now −0.114%Rate

Funding earned: $43.68
Price spread: −0.114% → −0.074%: −$4
Slippage, 4 orders: −$87.43
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$67.75
Costs to cover: 1.074%
Break-even: 17.9 days

Slippage from ApeX Omni: live order book, 49 min ago; BingX: live order book, 6 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 ApeX Omni live order book, 49 min ago	28.62 bp	36.3 bp −$36	127.6 bp −$1,276	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	2.44 bp	11.5 bp −$12	31.6 bp −$316	130.9 bp −$13.1K	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.571%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6116	−0.181%	$242K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6131	+0.073%	$429K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6129	+0.033%	$20K	$438K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6130	+0.049%	$88K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6123	−0.065%	$18.4M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6121	−0.098%	$14.0M	$58.1M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6124	−0.044%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.6127	long leg	$34K	$359K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6131	+0.069%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.6125	−0.026%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6133	+0.100%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6134	+0.114%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6138	+0.180%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0114%	4h	0.6127	+0.003%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0146%	4h	0.6128	+0.021%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0160%	1h	0.6128	+0.017%	$382	—	3x	as long as short
Aster PONSUSDT	+0.0163%	4h	0.6131	+0.059%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0302%	4h	0.6126	−0.016%	$8.1M	$4.9M	20x	as long as short
Lighter PONS	+0.0304%	1h	0.6132	+0.087%	$1.7M	$922K	3x	as long as short
Extended PONS-USD	+0.0304%	1h	0.6129	+0.030%	$253K	$682K	5x	as long as short
Binance PONSUSDT	+0.0306%	4h	0.6126	−0.016%	$40.1M	$98.7M	20x	as long as short
BingX PONS-USDTshort	+0.0308%	4h	0.6120	−0.114%	—	$3.0M	—
edgeX PONSUSDC	+0.0313%	4h	0.6129	+0.027%	$21K	$294K	10x	as long as short
BloFin PONS-USDT	+0.0544%	4h	0.6133	+0.098%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0667%	1h	0.6129	+0.024%	$42K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0892%	1h	0.6129	+0.036%	$62.3M	$30.4M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6131	+0.070%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6126	−0.018%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2332%	4h	0.6124	−0.049%	$5.4M	$6.3M	20x	as long as short