Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0264%/8h= −28.9% APRpaid last 24h −0.094%

Price spread now: ApeX Omni against Gate+0.461%7-day average +0.173% · you sell dearer than you buy

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1361.361% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.433%−$43 on $10k

Price spread, last 3 days (all we have)+0.025%+$3 · spread now +0.461%, 7d avg +0.173%

Together, before fees−0.408%−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.288% dearer against Gate than usual: you sell high and buy low (spread +0.461% now, against its 7-day average of +0.173%): +$29 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PONS_USDT	0.5895	0.0364	pay 0.0182% / 4h	2h 53m	$5.1M	$6.7M	20x
Short	ApeX Omni PONSUSDT	0.5922	0.0100	get 0.0013% / 1h	53m 30s	$34K	$326K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.461%Rate

Funding earned: −$55.44
Price spread: +0.461% → +0.173%: $28.8
Slippage, 4 orders: −$111.12
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$162.76
Costs to cover: 1.361%
Break-even: never at this rate

Slippage from Gate: live order book, 5 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 Gate live order book, 5 min ago	2.53 bp	26.5 bp −$26	113.1 bp −$1,131	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 33 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	0.5892	−0.043%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.417%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5903	+0.136%	$21K	$459K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5898	+0.051%	$17.9M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5898	+0.051%	$13.5M	$55.9M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5901	+0.102%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5899	+0.064%	$4.6M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5929	+0.585%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.5922	+0.461%	$34K	$326K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5901	+0.103%	$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	0.5910	+0.248%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5895	−0.008%	$27K	$534K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5908	+0.226%	$64K	$503K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5897	+0.034%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5901	+0.099%	$368	—	3x	as long as short
Lighter RH PONS	+0.0136%	1h	0.5902	+0.117%	$397K	$2.6M	3x	as long as short
Binance PONSUSDT	+0.0173%	4h	0.5899	+0.073%	$38.5M	$98.1M	20x	as long as short
MEXC PONS_USDT	+0.0174%	4h	0.5901	+0.102%	$7.7M	$5.1M	20x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5902	+0.111%	$105K	$529K	5x	as long as short
BingX PONS-USDT	+0.0190%	4h	0.5902	+0.119%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0197%	4h	0.5922	+0.466%	$21K	$292K	10x	as long as short
Aster PONSUSDT	+0.0239%	4h	0.5898	+0.054%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0313%	1h	0.5899	+0.071%	$38K	$1.8M	3x	as long as short
Nado PONS-PERP	+0.0338%	1h	0.5899	+0.073%	$89K	$103K	5x	as long as short
Gate PONS_USDTlong	+0.0364%	4h	0.5895	long leg	$5.1M	$6.7M	20x
BloFin PONS-USDT	+0.0416%	4h	0.5923	+0.475%	$1.7M	$984K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5898	+0.045%	$47K	$102K	3x	as long as short
Hyperliquid PONS	+0.0702%	1h	0.5905	+0.163%	$59.1M	$29.5M	3x	as long as short
Lighter PONS	+0.1040%	1h	0.5903	+0.139%	$1.7M	$879K	3x	as long as short
Phoenix PONS	+0.1232%	1h	0.5931	+0.617%	$27K	$86K	3x	as long as short