Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.114%

Price spread now: Gate against ApeX Omni+0.185%7-day average −0.163% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1331.331% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.531%+$53 on $10k

Price spread, last 4 days (all we have)−0.671%−$67 · spread now +0.185%, 7d avg −0.163%

Together, before fees−0.140%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Gate is 0.348% dearer against ApeX Omni than usual: you sell high and buy low: +$35 more if the spread goes back to its 7-day average of −0.163%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PONSUSDT	0.6015	0.0100	pay 0.0013% / 1h	11m 26s	$33K	$351K	5x
Short	Gate PONS_USDT	0.6026	0.0240	get 0.0120% / 4h	1h 11m	$5.3M	$6.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.185%Rate

Funding earned: $29.4
Price spread: +0.185% → −0.163%: $34.8
Slippage, 4 orders: −$108.13
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$68.92
Costs to cover: 1.331%
Break-even: 23.4 days

Slippage from ApeX Omni: live order book, 51 min ago; Gate: live order book, 2 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, 51 min ago	19.04 bp	26.1 bp −$26	104.2 bp −$1,042	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.49 bp	22.8 bp −$23	79.8 bp −$798	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	0.6019	+0.065%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.755%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6028	+0.218%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.6015	long leg	$33K	$351K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6034	+0.311%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6026	+0.183%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6012	−0.048%	$26K	$521K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6021	+0.101%	$64K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6001	−0.231%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0178%	4h	0.6039	+0.398%	$1.4M	$3.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0216%	1h	0.6015	+0.002%	$375	—	3x	as long as short
Nado PONS-PERP	+0.0222%	1h	0.6026	+0.184%	$71K	$129K	5x	as long as short
Gate PONS_USDTshort	+0.0240%	4h	0.6026	+0.185%	$5.3M	$6.3M	20x
OKX PONS-USDT-SWAP	+0.0317%	4h	0.6029	+0.234%	$13.7M	$55.2M	20x	as long as short
Lighter RH PONS	+0.0328%	1h	0.6021	+0.100%	$417K	$2.5M	3x	as long as short
Lighter PONS	+0.0344%	1h	0.6020	+0.090%	$1.7M	$876K	3x	as long as short
Bitget PONSUSDT	+0.0418%	4h	0.6029	+0.233%	$4.7M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0435%	4h	0.6014	−0.014%	$1.1M	$2.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0468%	4h	0.6025	+0.166%	$1.7M	$3.7M	20x	as long as short
Bybit PONSUSDT	+0.0490%	4h	0.6029	+0.234%	$18.0M	$30.6M	20x	as long as short
BingX PONS-USDT	+0.0496%	4h	0.6032	+0.284%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0526%	4h	0.6031	+0.268%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0527%	4h	0.6033	+0.301%	$39.7M	$94.6M	20x	as long as short
edgeX PONSUSDC	+0.0528%	4h	0.6022	+0.115%	$18K	$292K	10x	as long as short
Extended PONS-USD	+0.0528%	1h	0.6021	+0.097%	$249K	$671K	5x	as long as short
Hyperliquid PONS	+0.0754%	1h	0.6031	+0.266%	$61.4M	$27.9M	3x	as long as short
Pacifica PONS	+0.0755%	1h	0.6021	+0.093%	$47K	$70K	3x	as long as short
BloFin PONS-USDT	+0.0772%	4h	0.6022	+0.118%	$1.7M	$967K	20x	as long as short
Polymarket Perps PONS-USD	+0.0851%	1h	0.6030	+0.258%	$69K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.6017	+0.042%	$31K	$98K	3x	as long as short