Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0474%/8h= −51.9% APRpaid last 24h −0.084%

Price spread now: ApeX Omni against MEXC−0.720%7-day average +0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$141as in the Funding arb table

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

costs, in and out, $10k−$960.960% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.453%−$45 on $10k

Price spread, last 4 days (all we have)+0.853%+$85 · spread now −0.720%, 7d avg +0.104%

Together, before fees+0.401%+$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and ApeX Omni is 0.823% cheaper against MEXC than usual: you would sell low and buy high (−$82 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	MEXC PONS_USDT	0.6044	0.0574	pay 0.0287% / 4h	25m 03s	$7.7M	$4.7M	20x
Short	ApeX Omni PONSUSDT	0.6000	0.0100	get 0.0013% / 1h	25m 03s	$34K	$348K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now −0.720%Rate

Funding earned: −$99.54
Price spread: −0.720% → +0.104%: −$82.33
Slippage, 4 orders: −$85.99
Fee MEXC: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$277.86
Costs to cover: 0.960%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; ApeX Omni: live order book, 32 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 MEXC live order book, 3 min ago	3.33 bp	6.0 bp −$6	16.3 bp −$163	384.1 bp −$38.4K	doesn't fit
Sell ApeX Omni live order book, 32 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	0.6037	−0.110%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.233%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6046	+0.033%	$20K	$435K	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.6028	−0.265%	$5.3M	$6.3M	20x	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.6000	−0.720%	$34K	$348K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6049	+0.086%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6051	+0.117%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6041	−0.050%	$26K	$533K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6060	+0.258%	$66K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6032	−0.199%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0224%	1h	0.6048	+0.058%	$377	—	3x	as long as short
Variational Omni PONS	+0.0242%	4h	0.6026	−0.291%	$1.4M	$4.0M	—	as long as short
Nado PONS-PERP	+0.0276%	1h	0.6048	+0.060%	$71K	$129K	5x	as long as short
Lighter PONS	+0.0288%	1h	0.6042	−0.036%	$1.7M	$884K	3x	as long as short
OKX PONS-USDT-SWAP	+0.0324%	4h	0.6031	−0.215%	$13.8M	$55.3M	20x	as long as short
Lighter RH PONS	+0.0448%	1h	0.6043	−0.022%	$409K	$2.5M	3x	as long as short
Aster PONSUSDT	+0.0455%	4h	0.6041	−0.050%	$1.1M	$2.1M	20x	as long as short
Bybit PONSUSDT	+0.0462%	4h	0.6036	−0.132%	$18.0M	$30.8M	20x	as long as short
Bitget PONSUSDT	+0.0472%	4h	0.6040	−0.069%	$4.6M	$11.5M	20x	as long as short
BingX PONS-USDT	+0.0542%	4h	0.6037	−0.116%	—	$3.0M	—	as long as short
MEXC PONS_USDTlong	+0.0574%	4h	0.6044	long leg	$7.7M	$4.7M	20x
Extended PONS-USD	+0.0584%	1h	0.6046	+0.040%	$108K	$812K	5x	as long as short
Binance PONSUSDT	+0.0587%	4h	0.6037	−0.116%	$39.5M	$95.0M	20x	as long as short
edgeX PONSUSDC	+0.0588%	4h	0.6012	−0.526%	$18K	$292K	10x	as long as short
KuCoin PONSUSDTM	+0.0652%	4h	0.6039	−0.074%	$1.7M	$3.7M	20x	as long as short
Hyperliquid PONS	+0.0756%	1h	0.6037	−0.119%	$61.8M	$28.2M	3x	as long as short
BloFin PONS-USDT	+0.0827%	4h	0.6041	−0.050%	$1.7M	$956K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.6046	+0.028%	$48K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0917%	1h	0.6048	+0.061%	$69K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6020	−0.400%	$31K	$104K	3x	as long as short