Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.056%

Price spread now: ApeX Omni against OKX+0.008%7-day average +0.140% · you sell dearer than you buy

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1091.095% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.273%−$27 on $10k

Price spread, last 3 days (all we have)+0.003%$0 · spread now +0.008%, 7d avg +0.140%

Together, before fees−0.270%−$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.132% cheaper against OKX than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.140%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PONS-USDT-SWAP	0.5991	0.0100	pay 0.0050% / 4h	1h 09m	$13.5M	$56.4M	20x
Short	ApeX Omni PONSUSDT	0.5991	0.0100	get 0.0013% / 1h	9m 15s	$35K	$352K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +0.008%Rate

Funding earned: $0
Price spread: +0.008% → +0.140%: −$13.16
Slippage, 4 orders: −$89.49
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$122.65
Costs to cover: 1.095%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; ApeX Omni: live order book, 8 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 OKX live order book, 4 min ago	1.67 bp	13.5 bp −$13	33.3 bp −$333	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 8 min ago	28.62 bp	46.6 bp −$47	121.3 bp −$1,213	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 −0.0036%	1h	0.5984	−0.119%	$225K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.359%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5992	+0.017%	$21K	$439K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5990	−0.017%	$17.9M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAPlong	+0.0100%	4h	0.5991	long leg	$13.5M	$56.4M	20x
KuCoin PONSUSDTM	+0.0100%	4h	0.5992	+0.013%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5994	+0.045%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5976	−0.247%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.5991	+0.008%	$35K	$352K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5998	+0.124%	$3K	$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	0.5996	+0.075%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5991	0.000%	$27K	$545K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5998	+0.120%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5988	−0.050%	$1.7M	$3.3M	20x	as long as short
Aster PONSUSDT	+0.0121%	4h	0.5988	−0.047%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5991	0.000%	$373	—	3x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5991	−0.004%	$248K	$667K	5x	as long as short
MEXC PONS_USDT	+0.0176%	4h	0.5993	+0.033%	$7.8M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0179%	4h	0.5994	+0.050%	$39.0M	$97.8M	20x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5990	−0.017%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0202%	4h	0.5981	−0.171%	$21K	$292K	10x	as long as short
Nado PONS-PERP	+0.0208%	1h	0.5993	+0.033%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0264%	1h	0.5992	+0.013%	$423K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0419%	4h	0.5988	−0.050%	$1.7M	$979K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5989	−0.029%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0483%	1h	0.5992	+0.023%	$37K	$1.7M	3x	as long as short
Lighter PONS	+0.0624%	1h	0.5992	+0.020%	$1.7M	$1.0M	3x	as long as short
Hyperliquid PONS	+0.0680%	1h	0.5997	+0.097%	$60.7M	$30.1M	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.5978	−0.222%	$30K	$96K	3x	as long as short
Gate PONS_USDT	+0.1500%	4h	0.5988	−0.050%	$5.2M	$6.5M	20x	as long as short