Settings8H · net · $10k
Funding arb · Price arb /

PONS

all PONS markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 23:00 UTC−0.0092%/8h= −10.0% APRpaid last 24h −0.103%
Price spread now: ApeX Omni against edgeX+0.067%7-day average +0.108% · you sell dearer than you buy
Net, funding: paid 7d − costs−$171as in the Funding arb table
Net, price: spread back to 7d avg − costs−$127as in the Price arb table
costs, in and out, $10k−$1231.229% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.476%−$48 on $10k
Price spread, last 3 days (all we have)−0.096%−$10 · spread now +0.067%, 7d avg +0.108%
Together, before fees−0.573%+ Points / potential airdropedgeX: Active · farm board−$57 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and ApeX Omni is 0.041% cheaper against edgeX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.108%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongedgeX PONSUSDC0.59040.0192pay 0.0096% / 4h1h 50m$21K$293K10x
ShortApeX Omni PONSUSDT0.59080.0100get 0.0013% / 1h50m 09s$34K$342K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against edgeX. 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

Funding earned
−$19.24
Price spread: +0.067% → +0.108%
−$4.09
Slippage, 4 orders
−$103.91
Fee edgeX: 4.5 bp × 2 orders
−$9
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
−$146.24
Costs to cover
1.229%
Break-even
never at this rate
Slippage from edgeX: live order book, 33 min ago; ApeX Omni: live order book, 32 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy edgeX live order book, 33 min ago11.86 bp21.6 bp −$22doesn't fitdoesn't fitdoesn't fit
Sell ApeX Omni live order book, 32 min ago32.60 bp40.6 bp −$41125.6 bp −$1,256doesn't fitdoesn't fit

PONS on 30 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) PONS/USDL +0.0032% / S −0.0034%1h0.5920+0.277%$217K150xas long as short
Injective PONS/USDC PERP+0.0033%1h0.5920+0.267%$609$6K5.5xas long as short
Popdex PONSUSDT+0.0096%1h0.5934+0.511%$21K$440K20xas long as short
Bybit PONSUSDT+0.0100%4h0.5927+0.392%$17.7M$31.7M20xas long as short
OKX PONS-USDT-SWAP+0.0100%4h0.5925+0.358%$13.4M$56.1M20xas long as short
KuCoin PONSUSDTM+0.0100%4h0.5925+0.360%$1.7M$3.7M20xas long as short
Bitget PONSUSDT+0.0100%4h0.5929+0.431%$4.7M$11.7M20xas long as short
Variational Omni PONS+0.0100%4h0.5905+0.020%$1.3M$4.3Mas long as short
ApeX Omni PONSUSDTshort+0.0100%1h0.5908+0.067%$34K$342K5x
Orderly PERP_PONS_USDC_mythos+0.0100%4h0.5931+0.468%$2K$3K10xas long as short
Show all 30 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SunX PONS-USDT+0.0100%4h0.5930+0.443%$1.4M10xas long as short
SoDEX PONS-USD+0.0100%1h0.5925+0.365%$27K$544K3xas long as short
HTX PONS-USDT+0.0100%4h0.5937+0.563%$64K$505K20xas long as short
Phemex PONSUSDT+0.0100%4h0.5923+0.325%$1.6M$3.3M20xas long as short
Aevo PONS-PERP+0.0120%1h0.5927+0.384%$3693xas long as short
Aster PONSUSDT+0.0135%4h0.5923+0.329%$1.1M$2.2M20xas long as short
Extended PONS-USD+0.0160%1h0.5925+0.359%$106K$522K5xas long as short
Binance PONSUSDT+0.0164%4h0.5930+0.443%$38.5M$97.8M20xas long as short
MEXC PONS_USDT+0.0164%4h0.5928+0.409%$7.5M$4.9M20xas long as short
Nado PONS-PERP+0.0169%1h0.5932+0.483%$90K$103K5xas long as short
BingX PONS-USDT+0.0174%4h0.5925+0.358%$3.1Mas long as short
edgeX PONSUSDClong+0.0192%4h0.5904long leg$21K$293K10x
Lighter RH PONS+0.0368%1h0.5929+0.435%$407K$2.6M3xas long as short
BloFin PONS-USDT+0.0405%4h0.5917+0.223%$1.7M$975K20xas long as short
Pacifica PONS+0.0451%1h0.5935+0.529%$47K$103K3xas long as short
Polymarket Perps PONS-USD+0.0474%1h0.5935+0.521%$37K$1.8M3xas long as short
Hyperliquid PONS+0.0605%1h0.5934+0.511%$59.7M$29.9M3xas long as short
Lighter PONS+0.0760%1h0.5931+0.465%$1.7M$984K3xas long as short
Gate PONS_USDT+0.1092%4h0.5923+0.325%$5.2M$6.4M20xas long as short
Phoenix PONS+0.1398%1h0.5917+0.214%$30K$96K3xas long as short