Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SoDEX against ApeX Omni−0.138%74s7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2062.059% of the position

Long on ApeX Omni Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.334%+$33 · spread now −0.138%, 7d avg −0.096%

Together, before fees+0.334%+$33 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: SoDEX is 0.042% cheaper against ApeX Omni than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.096%. The two prices were read 74 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	0.6163	0.0100	pay 0.0013% / 1h	50m 12s	$33K	$360K	5x
Short	SoDEX PONS-USD	0.6154	0.0100	get 0.0013% / 1h	50m 12s	$28K	$547K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.138%Rate

Funding earned: $0
Price spread: −0.138% → −0.096%: −$4.19
Slippage, 4 orders: −$187.94
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$210.13
Costs to cover: 2.059%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 27 min ago; SoDEX: live order book, 28 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, 27 min ago	28.62 bp	36.3 bp −$36	127.6 bp −$1,276	doesn't fit	doesn't fit
Sell SoDEX live order book, 28 min ago	1.67 bp	59.1 bp −$59	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−3.137%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6150	−0.211%	$231K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6157	−0.094%	$20K	$461K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6157	−0.092%	$87K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6155	−0.127%	$18.6M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6155	−0.127%	$14.0M	$58.7M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6156	−0.115%	$1.8M	$3.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6139	−0.391%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.6163	long leg	$33K	$360K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6163	+0.010%	$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	0.6161	−0.028%	—	$1.4M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6154	−0.138%	$28K	$547K	3x
HTX PONS-USDT	+0.0100%	4h	0.6164	+0.024%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6147	−0.256%	$1.7M	$3.3M	20x	as long as short
Bitget PONSUSDT	+0.0116%	4h	0.6156	−0.114%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6158	−0.078%	$384	—	3x	as long as short
Aster PONSUSDT	+0.0208%	4h	0.6148	−0.240%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0252%	4h	0.6109	−0.868%	$21K	$292K	10x	as long as short
BingX PONS-USDT	+0.0272%	4h	0.6156	−0.110%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0288%	1h	0.6159	−0.063%	$254K	$682K	5x	as long as short
Binance PONSUSDT	+0.0291%	4h	0.6158	−0.078%	$40.1M	$99.3M	20x	as long as short
MEXC PONS_USDT	+0.0294%	4h	0.6156	−0.110%	$8.2M	$4.8M	20x	as long as short
Lighter PONS	+0.0464%	1h	0.6158	−0.078%	$1.7M	$921K	3x	as long as short
BloFin PONS-USDT	+0.0535%	4h	0.6149	−0.224%	$1.7M	$1.0M	20x	as long as short
Lighter RH PONS	+0.0592%	1h	0.6157	−0.088%	$433K	$2.6M	3x	as long as short
Polymarket Perps PONS-USD	+0.0771%	1h	0.6159	−0.068%	$42K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6153	−0.161%	$48K	$96K	3x	as long as short
Hyperliquid PONS	+0.1093%	1h	0.6158	−0.071%	$62.7M	$30.7M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6117	−0.743%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.1984%	4h	0.6152	−0.175%	$5.4M	$6.2M	20x	as long as short