Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.159%

Price spread now: ApeX Omni against BingX+1.776%98s7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$171as 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−$1061.062% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.646%−$65 on $10k

Price spread, last 3 days (all we have)−1.569%−$157 · spread now +1.776%, 7d avg +0.085%

Together, before fees−2.216%−$222 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 1.691% dearer against BingX than usual: you sell high and buy low (spread +1.776% now, against its 7-day average of +0.085%): +$169 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3 months. At the pace of the last 7 days (−0.646% in total) that is about 18 days. The two prices were read 98 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	BingX PONS-USDT	0.5810	0.0172	pay 0.0086% / 4h	2h 45m	—	$3.1M	—
Short	ApeX Omni PONSUSDT	0.5913	0.0100	get 0.0013% / 1h	45m 49s	$34K	$327K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now +1.776%Rate

Funding earned: −$15.12
Price spread: +1.776% → +0.085%: $169.13
Slippage, 4 orders: −$86.23
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $47.78
Costs to cover: 1.062%
Break-even: from the start

Slippage from BingX: live order book, 4 min ago; ApeX Omni: live order book, 41 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 BingX live order book, 4 min ago	1.70 bp	11.7 bp −$12	36.8 bp −$368	258.2 bp −$25.8K	doesn't fit
Sell ApeX Omni live order book, 41 min ago	34.37 bp	41.7 bp −$42	133.9 bp −$1,339	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	0.5813	+0.046%	$213K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+1.886%	$609	$6K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5817	+0.117%	$391K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5818	+0.138%	$20K	$454K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5805	−0.086%	$17.6M	$31.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5804	−0.103%	$13.3M	$55.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5809	−0.009%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5808	−0.031%	$4.5M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5902	+1.575%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.5913	+1.776%	$34K	$327K	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	0.5829	+0.332%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5815	+0.091%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5813	+0.059%	$26K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5829	+0.322%	$63K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5819	+0.155%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5826	+0.280%	$363	—	3x	as long as short
Binance PONSUSDT	+0.0151%	4h	0.5805	−0.092%	$37.8M	$98.2M	20x	as long as short
Extended PONS-USD	+0.0152%	1h	0.5805	−0.079%	$104K	$529K	5x	as long as short
MEXC PONS_USDT	+0.0154%	4h	0.5811	+0.017%	$7.5M	$5.2M	20x	as long as short
edgeX PONSUSDC	+0.0167%	4h	0.5883	+1.263%	$21K	$294K	10x	as long as short
BingX PONS-USDTlong	+0.0172%	4h	0.5810	long leg	—	$3.1M	—
Nado PONS-PERP	+0.0200%	1h	0.5816	+0.106%	$88K	$103K	5x	as long as short
Aster PONSUSDT	+0.0204%	4h	0.5799	−0.195%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0286%	1h	0.5814	+0.060%	$38K	$1.8M	3x	as long as short
Gate PONS_USDT	+0.0318%	4h	0.5818	+0.138%	$5.1M	$6.8M	20x	as long as short
BloFin PONS-USDT	+0.0396%	4h	0.5878	+1.170%	$1.7M	$962K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5818	+0.134%	$46K	$102K	3x	as long as short
Hyperliquid PONS	+0.0546%	1h	0.5812	+0.033%	$58.0M	$29.9M	3x	as long as short
Lighter PONS	+0.0656%	1h	0.5823	+0.217%	$1.7M	$880K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5909	+1.713%	$27K	$86K	3x	as long as short