Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0602%/8h= −65.9% APRpaid last 24h −0.080%

Price spread now: ApeX Omni against KuCoin−0.279%112s7-day average +0.126% · you buy dearer than you sell

Net, funding: paid 7d − costs−$211as 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−$1821.824% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.283%−$28 on $10k

Price spread, last 4 days (all we have)+0.310%+$31 · spread now −0.279%, 7d avg +0.126%

Together, before fees+0.027%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and ApeX Omni is 0.405% cheaper against KuCoin than usual: you would sell low and buy high (−$40 if the spread goes back to its 7-day average of +0.126%). Swap the legs. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.283% in total (about -14.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PONSUSDTM	0.5884	0.0702	pay 0.0351% / 4h	2h 13m	$1.6M	$3.8M	20x
Short	ApeX Omni PONSUSDT	0.5868	0.0100	get 0.0013% / 1h	13m 35s	$29K	$329K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now −0.279%Rate

Funding earned: −$126.42
Price spread: −0.279% → +0.126%: −$40.45
Slippage, 4 orders: −$160.42
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$349.29
Costs to cover: 1.824%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; ApeX Omni: live order book, 34 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 KuCoin live order book, 4 min ago	4.59 bp	31.4 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 34 min ago	32.31 bp	71.0 bp −$71	150.3 bp −$1,503	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	0.5875	−0.163%	$233K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.451%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5882	−0.032%	$410K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5887	+0.049%	$21K	$429K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5886	+0.032%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5882	−0.037%	$69K	$131K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5880	−0.070%	$5.2M	$6.4M	20x	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.5868	−0.279%	$29K	$329K	5x
SunX PONS-USDT	+0.0100%	4h	0.5880	−0.065%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5885	+0.010%	$25K	$586K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDT	+0.0100%	4h	0.5891	+0.114%	$64K	$526K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5885	+0.015%	$1.6M	$3.2M	20x	as long as short
Hyperliquid PONS	+0.0211%	1h	0.5885	+0.007%	$59.7M	$29.6M	3x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.5877	−0.129%	$366	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0407%	4h	0.5887	+0.049%	$13.4M	$55.4M	20x	as long as short
Aster PONSUSDT	+0.0474%	4h	0.5885	+0.016%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0584%	1h	0.5884	+0.005%	$100K	$812K	5x	as long as short
MEXC PONS_USDT	+0.0586%	4h	0.5886	+0.032%	$7.5M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0592%	4h	0.5886	+0.032%	$37.4M	$98.4M	20x	as long as short
edgeX PONSUSDC	+0.0607%	4h	0.5872	−0.214%	$20K	$296K	10x	as long as short
Bitget PONSUSDT	+0.0620%	4h	0.5887	+0.041%	$4.6M	$12.2M	20x	as long as short
Variational Omni PONS	+0.0630%	4h	0.5862	−0.384%	$1.3M	$4.1M	—	as long as short
KuCoin PONSUSDTMlong	+0.0702%	4h	0.5884	long leg	$1.6M	$3.8M	20x
Lighter PONS	+0.0712%	1h	0.5887	+0.049%	$1.6M	$939K	3x	as long as short
Pacifica PONS	+0.0715%	1h	0.5887	+0.047%	$45K	$69K	3x	as long as short
Polymarket Perps PONS-USD	+0.0734%	1h	0.5881	−0.053%	$111K	$1.9M	3x	as long as short
BloFin PONS-USDT	+0.0828%	4h	0.5867	−0.291%	$1.7M	$941K	20x	as long as short
BingX PONS-USDT	+0.0888%	4h	0.5887	+0.049%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0981%	4h	0.5886	+0.032%	$17.6M	$31.6M	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5877	−0.121%	$45K	$121K	3x	as long as short