Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0906%/8h= +99.2% APRpaid last 24h +0.124%

Price spread now: BingX against ApeX Omni+0.432%7-day average −0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$1011.006% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.680%+$68 on $10k

Price spread, last 4 days (all we have)−0.896%−$90 · spread now +0.432%, 7d avg −0.077%

Together, before fees−0.216%−$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$27 a day on $10k at the current rate, and BingX is 0.508% dearer against ApeX Omni than usual: you sell high and buy low: +$51 more if the spread goes back to its 7-day average of −0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PONSUSDT	0.6210	0.0100	pay 0.0013% / 1h	29m 14s	$31K	$289K	5x
Short	BingX PONS-USDT	0.6237	0.1006	get 0.0503% / 4h	3h 29m	—	$3.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now +0.432%Rate

Funding earned: $190.26
Price spread: +0.432% → −0.077%: $50.82
Slippage, 4 orders: −$80.62
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $140.46
Costs to cover: 1.006%
Break-even: 1.8 days

Slippage from ApeX Omni: live order book, 3 min ago; BingX: live order book, 5 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 ApeX Omni live order book, 3 min ago	31.45 bp	38.9 bp −$39	126.2 bp −$1,262	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	0.81 bp	11.0 bp −$11	32.0 bp −$320	134.6 bp −$13.5K	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 +0.0032% / S −0.0030%	1h	0.6228	+0.286%	$243K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−4.375%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6236	+0.415%	$23K	$437K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6232	+0.354%	$73K	$130K	5x	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.6210	long leg	$31K	$289K	5x
Polymarket Perps PONS-USD	+0.0100%	1h	0.6227	+0.262%	$73K	$2.2M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6251	+0.660%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6234	+0.383%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6242	+0.514%	$27K	$631K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6254	+0.707%	$66K	$528K	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	0.6242	+0.512%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6244	+0.549%	$389	—	3x	as long as short
Hyperliquid PONS	+0.0311%	1h	0.6234	+0.383%	$63.8M	$30.7M	3x	as long as short
Lighter RH PONS	+0.0384%	1h	0.6237	+0.432%	$422K	$2.7M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0413%	4h	0.6241	+0.496%	$14.3M	$60.9M	20x	as long as short
Aster PONSUSDT	+0.0445%	4h	0.6233	+0.368%	$1.1M	$2.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0478%	4h	0.6240	+0.475%	$1.7M	$4.1M	20x	as long as short
Lighter PONS	+0.0496%	1h	0.6239	+0.464%	$1.7M	$868K	3x	as long as short
Variational Omni PONS	+0.0560%	4h	0.6185	−0.406%	$1.6M	$4.5M	—	as long as short
MEXC PONS_USDT	+0.0628%	4h	0.6238	+0.448%	$8.0M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0634%	4h	0.6196	−0.230%	$20K	$293K	10x	as long as short
Extended PONS-USD	+0.0640%	1h	0.6241	+0.496%	$105K	$825K	5x	as long as short
Binance PONSUSDT	+0.0641%	4h	0.6241	+0.498%	$40.9M	$104.5M	20x	as long as short
Bitget PONSUSDT	+0.0724%	4h	0.6245	+0.554%	$5.0M	$13.2M	20x	as long as short
Pacifica PONS	+0.0853%	1h	0.6233	+0.368%	$47K	$78K	3x	as long as short
BloFin PONS-USDT	+0.0869%	4h	0.6199	−0.180%	$1.8M	$1.1M	20x	as long as short
Gate PONS_USDT	+0.0914%	4h	0.6221	+0.174%	$5.4M	$6.4M	20x	as long as short
Bybit PONSUSDT	+0.0985%	4h	0.6242	+0.512%	$18.8M	$33.2M	20x	as long as short
BingX PONS-USDTshort	+0.1006%	4h	0.6237	+0.432%	—	$3.2M	—
Phoenix PONS	+0.1714%	1h	0.6199	−0.182%	$47K	$159K	3x	as long as short