Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0737%/8h= −80.7% APRpaid last 24h −0.156%

Price spread now: ApeX Omni against BloFin+0.211%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$212as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1161.163% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.956%−$96 on $10k

Price spread, last 4 days (all we have)−0.628%−$63 · spread now +0.211%, 7d avg +0.065%

Together, before fees−1.584%−$158 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.146% dearer against BloFin than usual: you sell high and buy low (spread +0.211% now, against its 7-day average of +0.065%): +$15 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PONS-USDT	0.6010	0.0837	pay 0.0419% / 4h	3h 55m	$1.7M	$957K	20x
Short	ApeX Omni PONSUSDT	0.6023	0.0100	get 0.0013% / 1h	55m 46s	$35K	$345K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.211%Rate

Funding earned: −$154.85
Price spread: +0.211% → +0.065%: $14.63
Slippage, 4 orders: −$94.31
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$256.53
Costs to cover: 1.163%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; ApeX Omni: live order book, 62 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 BloFin live order book, 2 min ago	0.83 bp	18.5 bp −$18	42.9 bp −$429	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 62 min ago	32.12 bp	44.8 bp −$45	126.5 bp −$1,265	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 −0.0032%	1h	0.6000	−0.158%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.674%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6008	−0.033%	$21K	$435K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6007	−0.050%	$70K	$129K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.6013	+0.050%	$5.2M	$6.1M	20x	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.6023	+0.211%	$35K	$345K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6007	−0.052%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6006	−0.063%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6012	+0.040%	$26K	$538K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6015	+0.075%	$65K	$512K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6013	+0.050%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6011	+0.012%	$374	—	3x	as long as short
Variational Omni PONS	+0.0298%	4h	0.6012	+0.032%	$1.4M	$3.9M	—	as long as short
OKX PONS-USDT-SWAP	+0.0325%	4h	0.6036	+0.433%	$13.7M	$55.7M	20x	as long as short
Bybit PONSUSDT	+0.0353%	4h	0.6035	+0.416%	$18.0M	$30.9M	20x	as long as short
Lighter RH PONS	+0.0384%	1h	0.6029	+0.324%	$413K	$2.5M	3x	as long as short
Lighter PONS	+0.0432%	1h	0.6031	+0.348%	$1.7M	$890K	3x	as long as short
Aster PONSUSDT	+0.0450%	4h	0.6022	+0.202%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0494%	4h	0.6034	+0.404%	$4.6M	$11.5M	20x	as long as short
BingX PONS-USDT	+0.0572%	4h	0.6034	+0.399%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0600%	1h	0.6020	+0.165%	$108K	$813K	5x	as long as short
MEXC PONS_USDT	+0.0600%	4h	0.6036	+0.433%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0601%	4h	0.6037	+0.446%	$39.5M	$95.3M	20x	as long as short
edgeX PONSUSDC	+0.0618%	4h	0.6003	−0.112%	$18K	$291K	10x	as long as short
KuCoin PONSUSDTM	+0.0692%	4h	0.6026	+0.263%	$1.6M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0752%	1h	0.6031	+0.349%	$61.7M	$28.5M	3x	as long as short
Polymarket Perps PONS-USD	+0.0817%	1h	0.6008	−0.042%	$73K	$1.6M	3x	as long as short
BloFin PONS-USDTlong	+0.0837%	4h	0.6010	long leg	$1.7M	$957K	20x
Pacifica PONS	+0.1081%	1h	0.6034	+0.395%	$48K	$67K	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6005	−0.077%	$37K	$109K	3x	as long as short