Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against ApeX Omni−0.209%7-day average −0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1541.542% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 3 days (all we have)+0.494%+$49 · spread now −0.209%, 7d avg −0.104%

Together, before fees+0.510%+$51 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: Phemex is 0.104% cheaper against ApeX Omni than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PONSUSDT	0.5991	0.0100	pay 0.0013% / 1h	9m 35s	$35K	$352K	5x
Short	Phemex PONSUSDT	0.5979	0.0100	get 0.0050% / 4h	1h 09m	$1.7M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.209%Rate

Funding earned: $0
Price spread: −0.209% → −0.104%: −$10.42
Slippage, 4 orders: −$132.2
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$164.61
Costs to cover: 1.542%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 8 min ago; Phemex: live order book, 4 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, 8 min ago	28.62 bp	36.3 bp −$36	127.6 bp −$1,276	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	4.18 bp	34.4 bp −$34	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
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.5973	−0.303%	$224K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.367%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5992	+0.008%	$21K	$439K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5990	−0.025%	$17.9M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5992	+0.008%	$13.5M	$56.4M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5986	−0.085%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5996	+0.077%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5976	−0.255%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.5991	long leg	$35K	$352K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5990	−0.032%	$3K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5983	−0.149%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5982	−0.150%	$27K	$545K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6002	+0.180%	$64K	$506K	20x	as long as short
Phemex PONSUSDTshort	+0.0100%	4h	0.5979	−0.209%	$1.7M	$3.3M	20x
Aster PONSUSDT	+0.0121%	4h	0.5984	−0.122%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5983	−0.135%	$373	—	3x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5992	+0.005%	$248K	$667K	5x	as long as short
MEXC PONS_USDT	+0.0176%	4h	0.5991	−0.008%	$7.8M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0179%	4h	0.5995	+0.060%	$39.0M	$97.8M	20x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5987	−0.075%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0202%	4h	0.5981	−0.180%	$21K	$292K	10x	as long as short
Nado PONS-PERP	+0.0208%	1h	0.5993	+0.025%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0256%	1h	0.5987	−0.075%	$423K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0421%	4h	0.5979	−0.209%	$1.7M	$978K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5989	−0.037%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0483%	1h	0.5992	+0.015%	$37K	$1.7M	3x	as long as short
Lighter PONS	+0.0616%	1h	0.5988	−0.060%	$1.7M	$1.0M	3x	as long as short
Hyperliquid PONS	+0.0680%	1h	0.5987	−0.070%	$60.6M	$30.1M	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.5981	−0.175%	$30K	$96K	3x	as long as short
Gate PONS_USDT	+0.1500%	4h	0.5983	−0.142%	$5.2M	$6.5M	20x	as long as short