Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.093%

Price spread now: KuCoin against ApeX Omni−0.326%67s7-day average −0.118% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as 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−$1841.844% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.252%+$25 on $10k

Price spread, last 3 days (all we have)+0.294%+$29 · spread now −0.326%, 7d avg −0.118%

Together, before fees+0.546%+$55 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.207% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.326% now, against its 7-day average of −0.118%). If the spread goes back, that is −$21 on $10k: about 15 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.252% in total) that is about 5.8 days. The two prices were read 67 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	0.6082	0.0100	pay 0.0013% / 1h	56m 26s	$33K	$357K	5x
Short	KuCoin PONSUSDTM	0.6062	0.0146	get 0.0073% / 4h	3h 56m	$1.7M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.326%Rate

Funding earned: $9.66
Price spread: −0.326% → −0.118%: −$20.73
Slippage, 4 orders: −$162.39
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$195.46
Costs to cover: 1.844%
Break-even: 148.6 days

Slippage from ApeX Omni: live order book, 16 min ago; KuCoin: live order book, 11 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, 16 min ago	46.45 bp	58.8 bp −$59	138.2 bp −$1,382	doesn't fit	doesn't fit
Sell KuCoin live order book, 11 min ago	2.71 bp	25.6 bp −$26	doesn't fit	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	−0.0852%	4h	0.6060	−0.362%	$5.3M	$6.1M	20x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6056	−0.427%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.850%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6063	−0.314%	$424K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6064	−0.296%	$20K	$417K	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6059	−0.378%	$13.8M	$57.3M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6074	−0.129%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.6082	long leg	$33K	$357K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6071	−0.181%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6072	−0.161%	—	$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	0.6066	−0.256%	$28K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6091	+0.148%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6071	−0.181%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTMshort	+0.0146%	4h	0.6062	−0.326%	$1.7M	$3.8M	20x
Aevo PONS-PERP	+0.0152%	1h	0.6071	−0.185%	$378	—	3x	as long as short
Aster PONSUSDT	+0.0162%	4h	0.6062	−0.336%	$1.1M	$2.2M	20x	as long as short
Bitget PONSUSDT	+0.0184%	4h	0.6065	−0.280%	$4.7M	$11.7M	20x	as long as short
MEXC PONS_USDT	+0.0300%	4h	0.6064	−0.296%	$7.9M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0303%	4h	0.6063	−0.304%	$39.7M	$97.9M	20x	as long as short
Extended PONS-USD	+0.0304%	1h	0.6063	−0.306%	$252K	$681K	5x	as long as short
edgeX PONSUSDC	+0.0307%	4h	0.6072	−0.161%	$21K	$292K	10x	as long as short
Nado PONS-PERP	+0.0333%	1h	0.6064	−0.293%	$105K	$116K	5x	as long as short
Lighter PONS	+0.0336%	1h	0.6065	−0.275%	$1.7M	$894K	3x	as long as short
BloFin PONS-USDT	+0.0540%	4h	0.6067	−0.247%	$1.8M	$1.0M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6065	−0.283%	$48K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0830%	1h	0.6063	−0.307%	$41K	$1.6M	3x	as long as short
BingX PONS-USDT	+0.0916%	4h	0.6065	−0.280%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0917%	4h	0.6062	−0.329%	$18.2M	$31.2M	20x	as long as short
Hyperliquid PONS	+0.1193%	1h	0.6067	−0.252%	$61.8M	$30.0M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6073	−0.143%	$31K	$113K	3x	as long as short