Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0756%/8h= −82.8% APRpaid last 24h −0.113%

Price spread now: ApeX Omni against Gate+0.652%51s7-day average +0.159% · you sell dearer than you buy

Net, funding: paid 7d − costs−$192as 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−$1391.391% of the position

Long on Gate Short on ApeX Omni

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)−0.134%−$13 · spread now +0.652%, 7d avg +0.159%

Together, before fees−0.665%−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.493% dearer against Gate than usual: you sell high and buy low (spread +0.652% now, against its 7-day average of +0.159%): +$49 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 2.2 days. At the pace of the last 7 days (−0.531% in total) that is about 6.5 days. The two prices were read 51 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	Gate PONS_USDT	0.6029	0.0856	pay 0.0428% / 4h	1h 58m	$5.3M	$6.1M	20x
Short	ApeX Omni PONSUSDT	0.6068	0.0100	get 0.0013% / 1h	58m 35s	$33K	$351K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.652%Rate

Funding earned: −$158.76
Price spread: +0.652% → +0.159%: $49.27
Slippage, 4 orders: −$114.09
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$248.58
Costs to cover: 1.391%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; ApeX Omni: live order book, 4 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 Gate live order book, 5 min ago	0.83 bp	32.3 bp −$32	232.5 bp −$2,325	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 4 min ago	19.04 bp	57.9 bp −$58	138.3 bp −$1,383	doesn't fit	doesn't fit

PONS on 29 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	0.6026	−0.056%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.987%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6029	0.000%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6048	+0.314%	$1.4M	$3.9M	—	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.6068	+0.652%	$33K	$351K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6045	+0.265%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6034	+0.088%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6036	+0.116%	$26K	$519K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6058	+0.483%	$64K	$508K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6037	+0.133%	$1.6M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps PONS-USD	+0.0106%	1h	0.6037	+0.138%	$48K	$1.5M	3x	as long as short
Lighter RH PONS	+0.0136%	1h	0.6033	+0.068%	$424K	$2.5M	3x	as long as short
Lighter PONS	+0.0176%	1h	0.6038	+0.149%	$1.7M	$871K	3x	as long as short
Aevo PONS-PERP	+0.0192%	1h	0.6037	+0.138%	$376	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0270%	4h	0.6018	−0.182%	$13.8M	$54.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0320%	4h	0.6033	+0.060%	$1.7M	$3.6M	20x	as long as short
Bitget PONSUSDT	+0.0372%	4h	0.6029	−0.002%	$4.7M	$11.2M	20x	as long as short
Aster PONSUSDT	+0.0429%	4h	0.6033	+0.067%	$1.1M	$2.0M	20x	as long as short
BingX PONS-USDT	+0.0438%	4h	0.6028	−0.017%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0454%	4h	0.6031	+0.033%	$7.7M	$4.6M	20x	as long as short
Binance PONSUSDT	+0.0455%	4h	0.6030	+0.017%	$39.4M	$93.6M	20x	as long as short
Extended PONS-USD	+0.0456%	1h	0.6029	−0.007%	$250K	$670K	5x	as long as short
edgeX PONSUSDC	+0.0459%	4h	0.6058	+0.473%	$21K	$293K	10x	as long as short
Bybit PONSUSDT	+0.0533%	4h	0.6026	−0.050%	$18.0M	$30.3M	20x	as long as short
Hyperliquid PONS	+0.0593%	1h	0.6041	+0.194%	$61.6M	$27.8M	3x	as long as short
Pacifica PONS	+0.0755%	1h	0.6032	+0.055%	$48K	$72K	3x	as long as short
Gate PONS_USDTlong	+0.0856%	4h	0.6029	long leg	$5.3M	$6.1M	20x
Nado PONS-PERP	+0.1018%	1h	0.6038	+0.149%	$71K	$131K	5x	as long as short
Phoenix PONS	+0.1695%	1h	0.6060	+0.522%	$31K	$98K	3x	as long as short