Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0185%/8h= +20.2% APRpaid last 24h +0.030%

Price spread now: OKX against ApeX Omni−0.755%90s7-day average −0.134% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as 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−$1091.087% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.273%+$27 on $10k

Price spread, last 4 days (all we have)+0.357%+$36 · spread now −0.755%, 7d avg −0.134%

Together, before fees+0.630%+$63 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.621% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.755% now, against its 7-day average of −0.134%). If the spread goes back, that is −$62 on $10k: about 11 days of funding at the current rate (+$6 a day). The two prices were read 90 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	0.5998	0.0100	pay 0.0013% / 1h	38m 03s	$33K	$351K	5x
Short	OKX PONS-USDT-SWAP	0.5953	0.0285	get 0.0142% / 4h	1h 38m	$13.6M	$53.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.755%Rate

Funding earned: $38.78
Price spread: −0.755% → −0.134%: −$62.15
Slippage, 4 orders: −$88.65
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$132.02
Costs to cover: 1.087%
Break-even: 30.8 days

Slippage from ApeX Omni: live order book, 24 min ago; OKX: 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, 24 min ago	19.04 bp	26.1 bp −$26	104.2 bp −$1,042	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.84 bp	13.2 bp −$13	31.9 bp −$319	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
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.5944	−0.898%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.480%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5951	−0.789%	$20K	$424K	20x	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.5998	long leg	$33K	$351K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5960	−0.640%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5979	−0.328%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5952	−0.772%	$26K	$520K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5950	−0.807%	$64K	$508K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5952	−0.772%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0106%	4h	0.5978	−0.333%	$1.4M	$3.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0152%	1h	0.5952	−0.764%	$418K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0200%	1h	0.5957	−0.689%	$371	—	3x	as long as short
Nado PONS-PERP	+0.0227%	1h	0.5951	−0.793%	$70K	$129K	5x	as long as short
Lighter PONS	+0.0232%	1h	0.5953	−0.755%	$1.6M	$875K	3x	as long as short
OKX PONS-USDT-SWAPshort	+0.0285%	4h	0.5953	−0.755%	$13.6M	$53.9M	20x
KuCoin PONSUSDTM	+0.0346%	4h	0.5955	−0.720%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0390%	4h	0.5956	−0.700%	$4.6M	$11.3M	20x	as long as short
Gate PONS_USDT	+0.0400%	4h	0.5957	−0.689%	$5.2M	$6.2M	20x	as long as short
Aster PONSUSDT	+0.0416%	4h	0.5958	−0.668%	$1.1M	$2.1M	20x	as long as short
Extended PONS-USD	+0.0472%	1h	0.5952	−0.779%	$246K	$670K	5x	as long as short
Binance PONSUSDT	+0.0474%	4h	0.5950	−0.802%	$38.9M	$93.8M	20x	as long as short
MEXC PONS_USDT	+0.0474%	4h	0.5951	−0.789%	$7.6M	$4.7M	20x	as long as short
BingX PONS-USDT	+0.0480%	4h	0.5949	−0.822%	—	$3.0M	—	as long as short
edgeX PONSUSDC	+0.0493%	4h	0.5986	−0.208%	$18K	$292K	10x	as long as short
Bybit PONSUSDT	+0.0498%	4h	0.5949	−0.822%	$17.8M	$30.3M	20x	as long as short
Hyperliquid PONS	+0.0710%	1h	0.5949	−0.822%	$60.6M	$27.7M	3x	as long as short
BloFin PONS-USDT	+0.0714%	4h	0.5993	−0.088%	$1.7M	$954K	20x	as long as short
Pacifica PONS	+0.0755%	1h	0.5977	−0.360%	$47K	$72K	3x	as long as short
Polymarket Perps PONS-USD	+0.0809%	1h	0.5950	−0.810%	$48K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.6004	+0.095%	$31K	$98K	3x	as long as short