Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against SunX−0.026%47s7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$335as 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−$3353.351% of the position

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.034%+$3 · spread now −0.026%, 7d avg +0.051%

Together, before fees+0.034%+$3 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 0.078% cheaper against SunX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.051%. The two prices were read 47 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	SunX PONS-USDT	0.6040	0.0100	pay 0.0050% / 4h	2h 29m	—	$1.3M	10x
Short	ApeX Omni PONSUSDT	0.6038	0.0100	get 0.0013% / 1h	29m 36s	$33K	$354K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SunX. 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 SunXbpFee ApeX OmnibpOrdersPrice spread, now −0.026%Rate

Funding earned: $0
Price spread: −0.026% → +0.051%: −$7.76
Slippage, 4 orders: −$317.06
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$342.81
Costs to cover: 3.351%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; ApeX Omni: live order book, 38 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 SunX live order book, 5 min ago	104.63 bp	123.5 bp −$123	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 38 min ago	28.39 bp	50.9 bp −$51	137.0 bp −$1,370	doesn't fit	doesn't fit

PONS on 29 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	0.6029	−0.182%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.162%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6026	−0.227%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6043	+0.047%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.6038	−0.026%	$33K	$354K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6042	+0.038%	$2K	$3K	10x	as long as short
SunX PONS-USDTlong	+0.0100%	4h	0.6040	long leg	—	$1.3M	10x
SoDEX PONS-USD	+0.0100%	1h	0.6044	+0.076%	$26K	$518K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6044	+0.071%	$64K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6044	+0.071%	$1.7M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0184%	1h	0.6036	−0.061%	$376	—	3x	as long as short
Lighter RH PONS	+0.0208%	1h	0.6038	−0.030%	$423K	$2.5M	3x	as long as short
KuCoin PONSUSDTM	+0.0210%	4h	0.6030	−0.159%	$1.7M	$3.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0220%	4h	0.6026	−0.227%	$13.8M	$55.0M	20x	as long as short
Bybit PONSUSDT	+0.0238%	4h	0.6023	−0.277%	$18.1M	$30.5M	20x	as long as short
Nado PONS-PERP	+0.0244%	1h	0.6036	−0.065%	$71K	$131K	5x	as long as short
Lighter PONS	+0.0296%	1h	0.6039	−0.013%	$1.7M	$884K	3x	as long as short
Bitget PONSUSDT	+0.0302%	4h	0.6030	−0.166%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0369%	4h	0.6040	+0.008%	$1.1M	$2.0M	20x	as long as short
BingX PONS-USDT	+0.0390%	4h	0.6030	−0.161%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0408%	1h	0.6029	−0.171%	$250K	$674K	5x	as long as short
MEXC PONS_USDT	+0.0408%	4h	0.6034	−0.094%	$7.7M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0409%	4h	0.6031	−0.139%	$39.5M	$95.1M	20x	as long as short
edgeX PONSUSDC	+0.0414%	4h	0.6038	−0.024%	$21K	$294K	10x	as long as short
Gate PONS_USDT	+0.0530%	4h	0.6028	−0.194%	$5.3M	$6.1M	20x	as long as short
Hyperliquid PONS	+0.0690%	1h	0.6038	−0.036%	$61.4M	$28.2M	3x	as long as short
Polymarket Perps PONS-USD	+0.0742%	1h	0.6039	−0.007%	$45K	$1.5M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6032	−0.134%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6038	−0.036%	$31K	$107K	3x	as long as short