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% APRpaid last 24h +0.150%

Price spread now: Bybit against ApeX Omni+0.035%49s7-day average −0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs−$119as 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−$1541.545% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.354%+$35 on $10k

Price spread, last 3 days (all we have)−0.100%−$10 · spread now +0.035%, 7d avg −0.125%

Together, before fees+0.254%+$25 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: Bybit is 0.160% dearer against ApeX Omni than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.125%. The two prices were read 49 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	0.6087	0.0100	pay 0.0013% / 1h	8m 36s	$32K	$359K	5x
Short	Bybit PONSUSDT	0.6089	0.0100	get 0.0050% / 4h	8m 36s	$18.3M	$31.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → −0.125%: $15.97
Slippage, 4 orders: −$133.49
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$138.52
Costs to cover: 1.545%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 4 min ago; Bybit: live order book, 5 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, 4 min ago	46.45 bp	58.8 bp −$59	138.2 bp −$1,382	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.82 bp	15.6 bp −$16	38.4 bp −$384	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−1.929%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6079	−0.129%	$241K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6088	+0.015%	$425K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6083	−0.064%	$20K	$425K	20x	as long as short
Bybit PONSUSDTshort	+0.0100%	4h	0.6089	+0.035%	$18.3M	$31.3M	20x
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6091	+0.067%	$13.9M	$57.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6091	+0.061%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.6087	long leg	$32K	$359K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6096	+0.143%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6084	−0.043%	—	$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	0.6087	+0.002%	$28K	$544K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6106	+0.319%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6093	+0.100%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0130%	4h	0.6083	−0.066%	$1.7M	$3.7M	20x	as long as short
Aster PONSUSDT	+0.0147%	4h	0.6089	+0.038%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6090	+0.051%	$379	—	3x	as long as short
Bitget PONSUSDT	+0.0162%	4h	0.6095	+0.133%	$4.7M	$11.7M	20x	as long as short
Nado PONS-PERP	+0.0190%	1h	0.6085	−0.028%	$105K	$116K	5x	as long as short
Binance PONSUSDT	+0.0298%	4h	0.6089	+0.031%	$39.9M	$98.4M	20x	as long as short
MEXC PONS_USDT	+0.0302%	4h	0.6090	+0.051%	$8.0M	$4.9M	20x	as long as short
Extended PONS-USD	+0.0304%	1h	0.6089	+0.036%	$252K	$682K	5x	as long as short
BingX PONS-USDT	+0.0304%	4h	0.6098	+0.182%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0311%	4h	0.6094	+0.113%	$21K	$292K	10x	as long as short
Lighter PONS	+0.0320%	1h	0.6090	+0.049%	$1.7M	$932K	3x	as long as short
BloFin PONS-USDT	+0.0543%	4h	0.6085	−0.031%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0642%	1h	0.6086	−0.018%	$42K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0841%	1h	0.6090	+0.046%	$62.0M	$29.9M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6088	+0.024%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6100	+0.215%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2310%	4h	0.6088	+0.018%	$5.3M	$6.3M	20x	as long as short