Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.087%

Price spread now: Variational Omni against ApeX Omni−1.094%7-day average −0.101% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.128%+$13 on $10k

Price spread, last 3 days (all we have)+1.052%+$105 · spread now −1.094%, 7d avg −0.101%

Together, before fees+1.180%+ Points / potential airdropVariational Omni: Active · farm board+$118 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: Variational Omni is 0.993% cheaper against ApeX Omni than usual: you would sell low and buy high, −$99 on $10k if it goes back to its 7-day average of −0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PONSUSDT	0.5877	0.0100	pay 0.0013% / 1h	44m 56s	$34K	$328K	5x
Short	Variational Omni PONS	0.5813	0.0100	get 0.0050% / 4h	2h 44m	$1.3M	$4.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −1.094%Rate

Funding earned: $0
Price spread: −1.094% → −0.101%: −$99.27
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$109.27
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 42 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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, 42 min ago	34.37 bp	42.5 bp −$43	134.7 bp −$1,347	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	6.81 bp	doesn't fit	47.6 bp −$476	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 +0.0032% / S −0.0034%	1h	0.5801	−1.306%	$213K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.720%	$609	$6K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5811	−1.128%	$391K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5806	−1.213%	$21K	$453K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5800	−1.315%	$17.5M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5801	−1.298%	$13.3M	$55.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5804	−1.251%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5801	−1.302%	$4.5M	$11.7M	20x	as long as short
Variational Omni PONSshort	+0.0100%	4h	0.5813	−1.094%	$1.3M	$4.3M	—
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.5877	long leg	$34K	$328K	5x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5806	−1.205%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5809	−1.162%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5808	−1.186%	$26K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5809	−1.154%	$63K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5815	−1.060%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0112%	1h	0.5800	−1.315%	$361	—	3x	as long as short
Binance PONSUSDT	+0.0135%	4h	0.5806	−1.213%	$37.8M	$98.2M	20x	as long as short
Extended PONS-USD	+0.0136%	1h	0.5803	−1.257%	$104K	$532K	5x	as long as short
MEXC PONS_USDT	+0.0150%	4h	0.5807	−1.196%	$7.5M	$5.2M	20x	as long as short
BingX PONS-USDT	+0.0164%	4h	0.5809	−1.162%	—	$3.1M	—	as long as short
Aster PONSUSDT	+0.0172%	4h	0.5804	−1.243%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0174%	4h	0.5857	−0.339%	$20K	$294K	10x	as long as short
Nado PONS-PERP	+0.0181%	1h	0.5802	−1.275%	$88K	$103K	5x	as long as short
Gate PONS_USDT	+0.0240%	4h	0.5811	−1.128%	$5.1M	$6.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0296%	1h	0.5807	−1.200%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0375%	4h	0.5807	−1.196%	$1.7M	$954K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5797	−1.374%	$46K	$102K	3x	as long as short
Hyperliquid PONS	+0.0526%	1h	0.5807	−1.191%	$57.9M	$30.0M	3x	as long as short
Lighter PONS	+0.0672%	1h	0.5815	−1.063%	$1.7M	$880K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5873	−0.070%	$27K	$86K	3x	as long as short