Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0478%/8h= +52.3% APRpaid last 24h +0.113%

Price spread now: Gate against ApeX Omni−0.030%96s7-day average −0.159% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as 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−$1281.282% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.531%+$53 on $10k

Price spread, last 4 days (all we have)−0.488%−$49 · spread now −0.030%, 7d avg −0.159%

Together, before fees+0.043%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Gate is 0.129% dearer against ApeX Omni than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.159%. The two prices were read 96 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	0.6042	0.0100	pay 0.0013% / 1h	31m 45s	$33K	$354K	5x
Short	Gate PONS_USDT	0.6040	0.0578	get 0.0289% / 4h	2h 31m	$5.3M	$6.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.030%Rate

Funding earned: $100.38
Price spread: −0.030% → −0.159%: $12.94
Slippage, 4 orders: −$103.2
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$14.88
Costs to cover: 1.282%
Break-even: 8.0 days

Slippage from ApeX Omni: live order book, 36 min ago; Gate: live order book, 2 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, 36 min ago	28.39 bp	36.2 bp −$36	131.2 bp −$1,312	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	1.66 bp	20.1 bp −$20	60.0 bp −$600	doesn't fit	doesn't fit

PONS on 29 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 −0.0033%	1h	0.6041	−0.005%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.197%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6045	+0.053%	$20K	$424K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6045	+0.046%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.6042	long leg	$33K	$354K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6048	+0.101%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6052	+0.164%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6056	+0.242%	$26K	$526K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6048	+0.103%	$64K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6055	+0.218%	$1.7M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0184%	1h	0.6048	+0.096%	$377	—	3x	as long as short
KuCoin PONSUSDTM	+0.0214%	4h	0.6049	+0.122%	$1.7M	$3.7M	20x	as long as short
Lighter RH PONS	+0.0216%	1h	0.6045	+0.060%	$420K	$2.5M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0218%	4h	0.6043	+0.020%	$13.9M	$55.6M	20x	as long as short
Nado PONS-PERP	+0.0246%	1h	0.6040	−0.030%	$71K	$131K	5x	as long as short
Bybit PONSUSDT	+0.0258%	4h	0.6042	+0.003%	$18.1M	$30.7M	20x	as long as short
Bitget PONSUSDT	+0.0298%	4h	0.6049	+0.114%	$4.7M	$11.3M	20x	as long as short
Lighter PONS	+0.0320%	1h	0.6046	+0.076%	$1.7M	$884K	3x	as long as short
Aster PONSUSDT	+0.0350%	4h	0.6040	−0.026%	$1.1M	$2.0M	20x	as long as short
BingX PONS-USDT	+0.0396%	4h	0.6047	+0.086%	—	$3.0M	—	as long as short
Binance PONSUSDT	+0.0403%	4h	0.6047	+0.086%	$39.6M	$95.7M	20x	as long as short
MEXC PONS_USDT	+0.0406%	4h	0.6054	+0.202%	$7.8M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0408%	1h	0.6051	+0.159%	$250K	$678K	5x	as long as short
edgeX PONSUSDC	+0.0414%	4h	0.6039	−0.042%	$21K	$293K	10x	as long as short
Gate PONS_USDTshort	+0.0578%	4h	0.6040	−0.030%	$5.3M	$6.1M	20x
Hyperliquid PONS	+0.0691%	1h	0.6045	+0.045%	$61.5M	$28.2M	3x	as long as short
Polymarket Perps PONS-USD	+0.0746%	1h	0.6046	+0.070%	$45K	$1.5M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6027	−0.247%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6038	−0.071%	$31K	$107K	3x	as long as short