Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0964%/8h= −105.6% APRpaid last 24h −0.124%

Price spread now: ApeX Omni against BingX+1.048%68s7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$214as 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−$1461.463% of the position

Long on BingX Short on ApeX Omni

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)−0.583%−$58 · spread now +1.048%, 7d avg +0.077%

Together, before fees−1.264%−$126 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.971% dearer against BingX than usual: you sell high and buy low (spread +1.048% now, against its 7-day average of +0.077%): +$97 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 3.4 days. At the pace of the last 7 days (−0.680% in total) that is about 10.0 days. The two prices were read 68 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	BingX PONS-USDT	0.6174	0.1064	pay 0.0532% / 4h	3h 32m	—	$3.2M	—
Short	ApeX Omni PONSUSDT	0.6239	0.0100	get 0.0013% / 1h	32m 27s	$31K	$291K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now +1.048%Rate

Funding earned: −$202.44
Price spread: +1.048% → +0.077%: $97.12
Slippage, 4 orders: −$126.32
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$251.64
Costs to cover: 1.463%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; ApeX Omni: live order book, 65 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 BingX live order book, 2 min ago	0.81 bp	10.9 bp −$11	38.2 bp −$382	238.5 bp −$23.8K	doesn't fit
Sell ApeX Omni live order book, 65 min ago	36.65 bp	75.4 bp −$75	148.9 bp −$1,489	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 +0.0032% / S −0.0030%	1h	0.6178	+0.061%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−3.814%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6180	+0.097%	$23K	$437K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6171	−0.046%	$72K	$130K	5x	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.6239	+1.048%	$31K	$291K	5x
Polymarket Perps PONS-USD	+0.0100%	1h	0.6169	−0.081%	$72K	$2.2M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6179	+0.086%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6184	+0.167%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6184	+0.168%	$26K	$622K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6197	+0.377%	$66K	$527K	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	0.6185	+0.178%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6175	+0.022%	$385	—	3x	as long as short
Hyperliquid PONS	+0.0306%	1h	0.6179	+0.081%	$63.3M	$30.7M	3x	as long as short
Lighter RH PONS	+0.0376%	1h	0.6183	+0.146%	$418K	$2.7M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0408%	4h	0.6180	+0.097%	$14.1M	$60.6M	20x	as long as short
Aster PONSUSDT	+0.0428%	4h	0.6177	+0.047%	$1.1M	$2.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0474%	4h	0.6182	+0.126%	$1.6M	$4.1M	20x	as long as short
Variational Omni PONS	+0.0577%	4h	0.6231	+0.931%	$1.6M	$4.4M	—	as long as short
Lighter PONS	+0.0584%	1h	0.6185	+0.185%	$1.7M	$868K	3x	as long as short
Binance PONSUSDT	+0.0634%	4h	0.6176	+0.026%	$40.4M	$104.3M	20x	as long as short
MEXC PONS_USDT	+0.0638%	4h	0.6172	−0.032%	$7.9M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0640%	1h	0.6176	+0.034%	$104K	$827K	5x	as long as short
edgeX PONSUSDC	+0.0651%	4h	0.6214	+0.640%	$20K	$292K	10x	as long as short
Bitget PONSUSDT	+0.0718%	4h	0.6178	+0.062%	$5.0M	$13.2M	20x	as long as short
Gate PONS_USDT	+0.0728%	4h	0.6169	−0.081%	$5.4M	$6.4M	20x	as long as short
Pacifica PONS	+0.0853%	1h	0.6178	+0.068%	$46K	$77K	3x	as long as short
BloFin PONS-USDT	+0.0879%	4h	0.6191	+0.275%	$1.8M	$1.1M	20x	as long as short
Bybit PONSUSDT	+0.1034%	4h	0.6176	+0.032%	$18.6M	$33.1M	20x	as long as short
BingX PONS-USDTlong	+0.1064%	4h	0.6174	long leg	—	$3.2M	—
Phoenix PONS	+0.1714%	1h	0.6208	+0.557%	$47K	$159K	3x	as long as short