Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0075%/8h= −8.2% APRpaid last 24h −0.098%

Price spread now: ApeX Omni against Binance−0.251%7-day average +0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1071.067% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.450%−$45 on $10k

Price spread, last 3 days (all we have)+0.200%+$20 · spread now −0.251%, 7d avg +0.109%

Together, before fees−0.250%−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and ApeX Omni is 0.360% cheaper against Binance than usual: you would sell low and buy high (−$36 if the spread goes back to its 7-day average of +0.109%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PONSUSDT	0.5967	0.0175	pay 0.0087% / 4h	1h 42m	$38.8M	$97.5M	20x
Short	ApeX Omni PONSUSDT	0.5952	0.0100	get 0.0013% / 1h	42m 48s	$34K	$344K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.251%Rate

Funding earned: −$15.65
Price spread: −0.251% → +0.109%: −$36
Slippage, 4 orders: −$86.67
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$158.33
Costs to cover: 1.067%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; ApeX Omni: live order book, 40 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 Binance live order book, 15 min ago	0.85 bp	13.0 bp −$13	52.6 bp −$526	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 40 min ago	32.60 bp	40.6 bp −$41	125.6 bp −$1,256	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	0.5957	−0.169%	$218K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5920	−0.801%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5965	−0.040%	$21K	$432K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5964	−0.057%	$17.8M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5966	−0.023%	$13.5M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5965	−0.045%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5970	+0.052%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5942	−0.427%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.5952	−0.251%	$34K	$344K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5969	+0.027%	$2K	$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	0.5970	+0.037%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5962	−0.090%	$27K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5965	−0.038%	$64K	$505K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5957	−0.174%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5962	−0.082%	$371	—	3x	as long as short
Aster PONSUSDT	+0.0148%	4h	0.5966	−0.031%	$1.1M	$2.2M	20x	as long as short
BingX PONS-USDT	+0.0171%	4h	0.5964	−0.057%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0172%	4h	0.5965	−0.040%	$7.7M	$4.9M	20x	as long as short
Binance PONSUSDTlong	+0.0175%	4h	0.5967	long leg	$38.8M	$97.5M	20x
Extended PONS-USD	+0.0176%	1h	0.5964	−0.057%	$107K	$522K	5x	as long as short
edgeX PONSUSDC	+0.0181%	4h	0.5951	−0.281%	$21K	$294K	10x	as long as short
Nado PONS-PERP	+0.0203%	1h	0.5963	−0.068%	$90K	$103K	5x	as long as short
BloFin PONS-USDT	+0.0415%	4h	0.5964	−0.057%	$1.7M	$980K	20x	as long as short
Lighter RH PONS	+0.0440%	1h	0.5964	−0.057%	$423K	$2.6M	3x	as long as short
Pacifica PONS	+0.0451%	1h	0.5963	−0.071%	$47K	$104K	3x	as long as short
Polymarket Perps PONS-USD	+0.0500%	1h	0.5966	−0.027%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0626%	1h	0.5969	+0.024%	$60.1M	$30.0M	3x	as long as short
Lighter PONS	+0.0872%	1h	0.5965	−0.043%	$1.7M	$984K	3x	as long as short
Gate PONS_USDT	+0.1310%	4h	0.5961	−0.107%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5952	−0.251%	$30K	$96K	3x	as long as short