Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0321%/8h= +35.1% APRpaid last 24h +0.171%

Price spread now: BloFin against ApeX Omni−0.209%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$1131.127% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.954%+$95 on $10k

Price spread, last 3 days (all we have)+0.610%+$61 · spread now −0.209%, 7d avg −0.054%

Together, before fees+1.564%+$156 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.155% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.209% now, against its 7-day average of −0.054%). If the spread goes back, that is −$15 on $10k: about 39 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PONSUSDT	0.5991	0.0100	pay 0.0013% / 1h	10m 08s	$35K	$352K	5x
Short	BloFin PONS-USDT	0.5979	0.0421	get 0.0210% / 4h	1h 10m	$1.7M	$978K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.209%Rate

Funding earned: $67.34
Price spread: −0.209% → −0.054%: −$15.49
Slippage, 4 orders: −$90.71
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$60.85
Costs to cover: 1.127%
Break-even: 13.3 days

Slippage from ApeX Omni: live order book, 7 min ago; BloFin: live order book, 3 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, 7 min ago	28.62 bp	36.3 bp −$36	127.6 bp −$1,276	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	1.67 bp	10.4 bp −$10	30.3 bp −$303	109.3 bp −$10.9K	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 −0.0036%	1h	0.5973	−0.303%	$224K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.367%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5988	−0.058%	$21K	$439K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5986	−0.092%	$17.9M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5986	−0.092%	$13.5M	$56.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5984	−0.134%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5986	−0.097%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5976	−0.255%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.5991	long leg	$35K	$352K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5990	−0.032%	$3K	$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	0.5983	−0.149%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5982	−0.150%	$27K	$545K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6002	+0.180%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5979	−0.209%	$1.7M	$3.3M	20x	as long as short
Aster PONSUSDT	+0.0124%	4h	0.5983	−0.138%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5983	−0.135%	$373	—	3x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5984	−0.129%	$248K	$667K	5x	as long as short
Binance PONSUSDT	+0.0176%	4h	0.5987	−0.080%	$38.9M	$97.8M	20x	as long as short
MEXC PONS_USDT	+0.0180%	4h	0.5984	−0.125%	$7.8M	$4.9M	20x	as long as short
edgeX PONSUSDC	+0.0180%	4h	0.5985	−0.110%	$21K	$292K	10x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5985	−0.108%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0209%	1h	0.5989	−0.035%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0256%	1h	0.5983	−0.140%	$422K	$2.7M	3x	as long as short
BloFin PONS-USDTshort	+0.0421%	4h	0.5979	−0.209%	$1.7M	$978K	20x
Pacifica PONS	+0.0451%	1h	0.5988	−0.060%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0481%	1h	0.5986	−0.092%	$37K	$1.7M	3x	as long as short
Lighter PONS	+0.0608%	1h	0.5983	−0.137%	$1.7M	$1.0M	3x	as long as short
Hyperliquid PONS	+0.0680%	1h	0.5989	−0.043%	$60.6M	$30.2M	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.5981	−0.175%	$30K	$96K	3x	as long as short
Gate PONS_USDT	+0.1496%	4h	0.5983	−0.142%	$5.2M	$6.5M	20x	as long as short