Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0522%/8h= −57.2% APRpaid last 24h −0.114%

Price spread now: ApeX Omni against Bybit+0.265%59s7-day average +0.128% · you sell dearer than you buy

Net, funding: paid 7d − costs−$154as 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−$1171.166% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.373%−$37 on $10k

Price spread, last 4 days (all we have)−0.187%−$19 · spread now +0.265%, 7d avg +0.128%

Together, before fees−0.560%−$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.137% dearer against Bybit than usual: you sell high and buy low (spread +0.265% now, against its 7-day average of +0.128%): +$14 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 7 days (−0.373% in total) that is about 2.6 days. The two prices were read 59 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	Bybit PONSUSDT	0.5924	0.0622	pay 0.0311% / 4h	1h 00m	$17.5M	$31.2M	20x
Short	ApeX Omni PONSUSDT	0.5940	0.0100	get 0.0013% / 1h	0m 29s	$29K	$308K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.265%Rate

Funding earned: −$109.71
Price spread: +0.265% → +0.128%: $13.73
Slippage, 4 orders: −$95.55
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$212.54
Costs to cover: 1.166%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; ApeX Omni: live order book, 42 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 Bybit live order book, 3 min ago	1.69 bp	17.4 bp −$17	47.4 bp −$474	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 42 min ago	31.07 bp	43.7 bp −$44	131.0 bp −$1,310	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	0.5918	−0.103%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	+0.245%	$610	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5920	−0.069%	$410K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5925	+0.017%	$22K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5927	+0.056%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5922	−0.034%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.5940	+0.265%	$29K	$308K	5x
SunX PONS-USDT	+0.0100%	4h	0.5928	+0.066%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5922	−0.030%	$26K	$581K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5923	−0.020%	$64K	$526K	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	0.5923	−0.017%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0200%	1h	0.5922	−0.034%	$369	—	3x	as long as short
Hyperliquid PONS	+0.0317%	1h	0.5928	+0.074%	$60.2M	$29.5M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0410%	4h	0.5925	+0.017%	$13.4M	$55.2M	20x	as long as short
Aster PONSUSDT	+0.0442%	4h	0.5917	−0.113%	$1.1M	$2.2M	20x	as long as short
Binance PONSUSDT	+0.0470%	4h	0.5923	−0.012%	$37.3M	$97.9M	20x	as long as short
Extended PONS-USD	+0.0472%	1h	0.5919	−0.089%	$101K	$806K	5x	as long as short
MEXC PONS_USDT	+0.0472%	4h	0.5923	−0.017%	$7.7M	$4.8M	20x	as long as short
edgeX PONSUSDC	+0.0494%	4h	0.5919	−0.083%	$20K	$291K	10x	as long as short
Variational Omni PONS	+0.0529%	4h	0.5918	−0.093%	$1.4M	$4.1M	—	as long as short
Pacifica PONS	+0.0556%	1h	0.5920	−0.065%	$45K	$68K	3x	as long as short
Gate PONS_USDT	+0.0570%	4h	0.5923	−0.017%	$5.3M	$6.4M	20x	as long as short
KuCoin PONSUSDTM	+0.0580%	4h	0.5925	+0.019%	$1.6M	$3.8M	20x	as long as short
Bybit PONSUSDTlong	+0.0622%	4h	0.5924	long leg	$17.5M	$31.2M	20x
BingX PONS-USDT	+0.0650%	4h	0.5924	0.000%	—	$3.0M	—	as long as short
Polymarket Perps PONS-USD	+0.0660%	1h	0.5927	+0.051%	$85K	$1.9M	3x	as long as short
Bitget PONSUSDT	+0.0676%	4h	0.5928	+0.069%	$4.7M	$12.2M	20x	as long as short
BloFin PONS-USDT	+0.0712%	4h	0.5922	−0.034%	$1.7M	$940K	20x	as long as short
Lighter PONS	+0.0856%	1h	0.5923	−0.025%	$1.6M	$832K	3x	as long as short
Phoenix PONS	+0.1472%	1h	0.5934	+0.174%	$45K	$127K	3x	as long as short