Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0244%/8h= −26.7% APRpaid last 24h −0.089%

Price spread now: ApeX Omni against edgeX−0.039%7-day average +0.104% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1641.636% of the position

Long on edgeX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.479%−$48 on $10k

Price spread, last 3 days (all we have)+0.071%+$7 · spread now −0.039%, 7d avg +0.104%

Together, before fees−0.408%+ Points / potential airdropedgeX: Active · farm board−$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and ApeX Omni is 0.143% cheaper against edgeX than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.104%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX PONSUSDC	0.6082	0.0344	pay 0.0172% / 4h	3h 39m	$21K	$292K	10x
Short	ApeX Omni PONSUSDT	0.6080	0.0100	get 0.0013% / 1h	39m 15s	$33K	$357K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against edgeX. 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 edgeXbpFee ApeX OmnibpOrdersPrice spread, now −0.039%Rate

Funding earned: −$51.15
Price spread: −0.039% → +0.104%: −$14.33
Slippage, 4 orders: −$144.58
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$229.06
Costs to cover: 1.636%
Break-even: never at this rate

Slippage from edgeX: live order book, 34 min ago; ApeX Omni: live order book, 33 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 edgeX live order book, 34 min ago	11.48 bp	19.8 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 33 min ago	46.45 bp	64.9 bp −$65	153.7 bp −$1,537	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 −0.0033%	1h	0.6073	−0.153%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.852%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6080	−0.037%	$431K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6092	+0.162%	$20K	$416K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6080	−0.043%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.6080	−0.039%	$33K	$357K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6084	+0.027%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6084	+0.024%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6077	−0.080%	$28K	$552K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6108	+0.418%	$65K	$511K	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	0.6080	−0.036%	$1.7M	$3.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0118%	4h	0.6074	−0.134%	$13.8M	$57.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0164%	4h	0.6091	+0.145%	$1.8M	$3.8M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6079	−0.052%	$379	—	3x	as long as short
Bitget PONSUSDT	+0.0210%	4h	0.6076	−0.095%	$4.7M	$11.5M	20x	as long as short
Aster PONSUSDT	+0.0218%	4h	0.6086	+0.068%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0332%	4h	0.6092	+0.162%	$7.9M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0333%	4h	0.6084	+0.030%	$39.8M	$97.4M	20x	as long as short
Extended PONS-USD	+0.0336%	1h	0.6080	−0.035%	$252K	$683K	5x	as long as short
edgeX PONSUSDClong	+0.0344%	4h	0.6082	long leg	$21K	$292K	10x
Lighter PONS	+0.0464%	1h	0.6083	+0.012%	$1.7M	$896K	3x	as long as short
Gate PONS_USDT	+0.0514%	4h	0.6084	+0.030%	$5.3M	$6.2M	20x	as long as short
BloFin PONS-USDT	+0.0573%	4h	0.6082	−0.003%	$1.7M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0593%	1h	0.6095	+0.211%	$105K	$116K	5x	as long as short
Bybit PONSUSDT	+0.0660%	4h	0.6077	−0.085%	$18.2M	$31.1M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6097	+0.246%	$48K	$87K	3x	as long as short
BingX PONS-USDT	+0.0740%	4h	0.6082	−0.003%	—	$3.1M	—	as long as short
Polymarket Perps PONS-USD	+0.0781%	1h	0.6094	+0.193%	$43K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0926%	1h	0.6095	+0.216%	$62.0M	$29.2M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6085	+0.038%	$31K	$113K	3x	as long as short