Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: ApeX Omni against SoDEX−0.039%74s7-day average +0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2532.531% of the position

Long on SoDEX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.081%−$8 · spread now −0.039%, 7d avg +0.097%

Together, before fees−0.081%−$8 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 0.136% cheaper against SoDEX than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.097%. The two prices were read 74 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	SoDEX PONS-USD	0.6082	0.0100	pay 0.0013% / 1h	37m 38s	$28K	$552K	3x
Short	ApeX Omni PONSUSDT	0.6080	0.0100	get 0.0013% / 1h	37m 38s	$33K	$357K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SoDEX. 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 SoDEXbpFee ApeX OmnibpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → +0.097%: −$13.63
Slippage, 4 orders: −$235.09
Fee SoDEX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$266.72
Costs to cover: 2.531%
Break-even: never at this rate

Slippage from SoDEX: live order book, 36 min ago; ApeX Omni: live order book, 35 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 SoDEX live order book, 36 min ago	0.82 bp	63.9 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 35 min ago	46.45 bp	64.9 bp −$65	153.7 bp −$1,537	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 −0.0033%	1h	0.6071	−0.187%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.853%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6081	−0.021%	$431K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6082	−0.003%	$20K	$416K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6080	−0.043%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.6080	−0.039%	$33K	$357K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6088	+0.092%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6084	+0.028%	—	$1.4M	10x	as long as short
SoDEX PONS-USDlong	+0.0100%	1h	0.6082	long leg	$28K	$552K	3x
HTX PONS-USDT	+0.0100%	4h	0.6095	+0.204%	$65K	$511K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6082	−0.003%	$1.7M	$3.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0124%	4h	0.6079	−0.053%	$13.8M	$57.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0164%	4h	0.6080	−0.028%	$1.8M	$3.8M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6082	+0.001%	$379	—	3x	as long as short
Bitget PONSUSDT	+0.0214%	4h	0.6085	+0.049%	$4.7M	$11.5M	20x	as long as short
Aster PONSUSDT	+0.0223%	4h	0.6081	−0.012%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0336%	1h	0.6082	−0.008%	$252K	$683K	5x	as long as short
Binance PONSUSDT	+0.0338%	4h	0.6082	−0.003%	$39.8M	$97.3M	20x	as long as short
MEXC PONS_USDT	+0.0338%	4h	0.6083	+0.013%	$7.9M	$4.8M	20x	as long as short
edgeX PONSUSDC	+0.0344%	4h	0.6082	−0.001%	$21K	$292K	10x	as long as short
Lighter PONS	+0.0472%	1h	0.6083	+0.012%	$1.7M	$896K	3x	as long as short
BloFin PONS-USDT	+0.0573%	4h	0.6082	−0.003%	$1.7M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0585%	1h	0.6076	−0.100%	$105K	$116K	5x	as long as short
Gate PONS_USDT	+0.0620%	4h	0.6078	−0.069%	$5.3M	$6.2M	20x	as long as short
BingX PONS-USDT	+0.0650%	4h	0.6083	+0.013%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0660%	4h	0.6077	−0.085%	$18.2M	$31.0M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6081	−0.026%	$48K	$87K	3x	as long as short
Polymarket Perps PONS-USD	+0.0771%	1h	0.6079	−0.046%	$43K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0921%	1h	0.6083	+0.013%	$61.8M	$29.2M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6085	+0.038%	$31K	$113K	3x	as long as short