Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0496%/8h= +54.3% APRpaid last 24h +0.084%

Price spread now: MEXC against ApeX Omni−0.277%7-day average −0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$900.904% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.453%+$45 on $10k

Price spread, last 4 days (all we have)+0.144%+$14 · spread now −0.277%, 7d avg −0.104%

Together, before fees+0.596%+$60 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.174% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.277% now, against its 7-day average of −0.104%). If the spread goes back, that is −$17 on $10k: about 28 hours of funding at the current rate (+$15 a day). At the pace of the last 7 days (+0.453% in total) that is about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PONSUSDT	0.6023	0.0100	pay 0.0013% / 1h	57m 06s	$35K	$345K	5x
Short	MEXC PONS_USDT	0.6006	0.0596	get 0.0298% / 4h	3h 57m	$7.5M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.277%Rate

Funding earned: $104.16
Price spread: −0.277% → −0.104%: −$17.37
Slippage, 4 orders: −$80.39
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$3.6
Costs to cover: 0.904%
Break-even: 7.2 days

Slippage from ApeX Omni: live order book, 60 min ago; MEXC: live order book, 1 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, 60 min ago	32.12 bp	39.5 bp −$39	116.9 bp −$1,169	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.83 bp	3.1 bp −$3	11.3 bp −$113	371.1 bp −$37.1K	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
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0032%	1h	0.5994	−0.471%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.883%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6006	−0.277%	$21K	$435K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6008	−0.244%	$70K	$129K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.6000	−0.377%	$5.2M	$6.1M	20x	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.6023	long leg	$35K	$345K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6009	−0.221%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6014	−0.148%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6003	−0.325%	$26K	$538K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6011	−0.193%	$65K	$512K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6010	−0.211%	$1.7M	$3.2M	20x	as long as short
Lighter RH PONS	+0.0184%	1h	0.6004	−0.310%	$411K	$2.5M	3x	as long as short
Bybit PONSUSDT	+0.0189%	4h	0.6004	−0.310%	$18.0M	$30.9M	20x	as long as short
Lighter PONS	+0.0192%	1h	0.6004	−0.310%	$1.6M	$890K	3x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6006	−0.277%	$374	—	3x	as long as short
Variational Omni PONS	+0.0303%	4h	0.6008	−0.245%	$1.4M	$3.9M	—	as long as short
OKX PONS-USDT-SWAP	+0.0324%	4h	0.6002	−0.344%	$13.6M	$55.3M	20x	as long as short
Aster PONSUSDT	+0.0446%	4h	0.6006	−0.278%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0492%	4h	0.6010	−0.209%	$4.6M	$11.5M	20x	as long as short
BingX PONS-USDT	+0.0572%	4h	0.6015	−0.128%	—	$3.0M	—	as long as short
MEXC PONS_USDTshort	+0.0596%	4h	0.6006	−0.277%	$7.5M	$4.7M	20x
Binance PONSUSDT	+0.0597%	4h	0.6007	−0.261%	$39.3M	$95.3M	20x	as long as short
Extended PONS-USD	+0.0600%	1h	0.6002	−0.338%	$108K	$813K	5x	as long as short
edgeX PONSUSDC	+0.0618%	4h	0.6003	−0.322%	$18K	$291K	10x	as long as short
Hyperliquid PONS	+0.0674%	1h	0.6007	−0.264%	$61.4M	$28.5M	3x	as long as short
KuCoin PONSUSDTM	+0.0694%	4h	0.6003	−0.327%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0732%	1h	0.6004	−0.314%	$73K	$1.6M	3x	as long as short
BloFin PONS-USDT	+0.0837%	4h	0.6010	−0.211%	$1.7M	$957K	20x	as long as short
Pacifica PONS	+0.1081%	1h	0.6009	−0.225%	$47K	$67K	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6005	−0.287%	$37K	$109K	3x	as long as short