Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Orderly−0.563%70s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.563% cheaper against Orderly than usual: you would sell low and buy high, −$56 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_PONS_USDC_mythos	0.5898	0.0100	pay 0.0050% / 4h	2h 02m	$2K	$3K	10x
Short	ApeX Omni PONSUSDT	0.5865	0.0100	get 0.0013% / 1h	2m 11s	$34K	$339K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Orderly. 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 OrderlybpFee ApeX OmnibpOrdersPrice spread, now −0.563%Rate

Funding earned: $0
Price spread: −0.563% → 0.000%: −$56.29
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$72.29
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; ApeX Omni: live order book, 20 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 20 min ago	32.60 bp	40.6 bp −$41	125.6 bp −$1,256	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.5885	−0.212%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.368%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5890	−0.134%	$21K	$442K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5890	−0.134%	$17.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5888	−0.168%	$13.4M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5884	−0.229%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5893	−0.078%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5857	−0.689%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.5865	−0.563%	$34K	$339K	5x
Orderly PERP_PONS_USDC_mythoslong	+0.0100%	4h	0.5898	long leg	$2K	$3K	10x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5895	−0.046%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5890	−0.134%	$27K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5894	−0.075%	$63K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5889	−0.151%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5892	−0.106%	$367	—	3x	as long as short
Nado PONS-PERP	+0.0134%	1h	0.5892	−0.096%	$89K	$103K	5x	as long as short
Aster PONSUSDT	+0.0151%	4h	0.5891	−0.113%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0168%	1h	0.5890	−0.127%	$105K	$532K	5x	as long as short
MEXC PONS_USDT	+0.0168%	4h	0.5892	−0.100%	$7.5M	$5.2M	20x	as long as short
BingX PONS-USDT	+0.0168%	4h	0.5887	−0.185%	—	$3.1M	—	as long as short
Binance PONSUSDT	+0.0169%	4h	0.5892	−0.096%	$38.3M	$98.2M	20x	as long as short
edgeX PONSUSDC	+0.0175%	4h	0.5869	−0.494%	$20K	$293K	10x	as long as short
Polymarket Perps PONS-USD	+0.0382%	1h	0.5891	−0.119%	$37K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0409%	4h	0.5885	−0.219%	$1.7M	$963K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5891	−0.110%	$47K	$103K	3x	as long as short
Lighter RH PONS	+0.0496%	1h	0.5892	−0.102%	$417K	$2.7M	3x	as long as short
Hyperliquid PONS	+0.0531%	1h	0.5895	−0.047%	$59.2M	$30.1M	3x	as long as short
Gate PONS_USDT	+0.0738%	4h	0.5883	−0.253%	$5.1M	$6.8M	20x	as long as short
Lighter PONS	+0.0976%	1h	0.5895	−0.051%	$1.7M	$900K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5870	−0.470%	$30K	$86K	3x	as long as short