Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.056%

Price spread now: ApeX Omni against OKX−0.221%50s7-day average +0.140% · you buy dearer than you sell

Net, funding: paid 7d − costs−$137as 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−$1101.096% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.273%−$27 on $10k

Price spread, last 3 days (all we have)+0.232%+$23 · spread now −0.221%, 7d avg +0.140%

Together, before fees−0.041%−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.360% cheaper against OKX than usual: you would sell low and buy high, −$36 on $10k if it goes back to its 7-day average of +0.140%. The two prices were read 50 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	OKX PONS-USDT-SWAP	0.5941	0.0100	pay 0.0050% / 4h	1h 46m	$13.5M	$55.8M	20x
Short	ApeX Omni PONSUSDT	0.5928	0.0100	get 0.0013% / 1h	46m 33s	$34K	$343K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.221%Rate

Funding earned: $0
Price spread: −0.221% → +0.140%: −$36.05
Slippage, 4 orders: −$89.61
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$145.66
Costs to cover: 1.096%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; ApeX Omni: live order book, 36 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 OKX live order book, 2 min ago	1.69 bp	14.5 bp −$15	26.8 bp −$268	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 36 min ago	32.60 bp	40.6 bp −$41	125.6 bp −$1,256	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 −0.0034%	1h	0.5928	−0.218%	$217K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5920	−0.360%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5942	+0.017%	$21K	$432K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5940	−0.017%	$17.7M	$31.7M	20x	as long as short
OKX PONS-USDT-SWAPlong	+0.0100%	4h	0.5941	long leg	$13.5M	$55.8M	20x
KuCoin PONSUSDTM	+0.0100%	4h	0.5941	−0.007%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5945	+0.059%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5905	−0.606%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.5928	−0.221%	$34K	$343K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5941	+0.008%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5940	−0.020%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5935	−0.108%	$27K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5939	−0.035%	$64K	$505K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5931	−0.168%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5936	−0.093%	$370	—	3x	as long as short
Aster PONSUSDT	+0.0143%	4h	0.5936	−0.090%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0160%	1h	0.5942	+0.017%	$106K	$522K	5x	as long as short
MEXC PONS_USDT	+0.0162%	4h	0.5942	+0.017%	$7.5M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0169%	4h	0.5943	+0.034%	$38.6M	$97.7M	20x	as long as short
BingX PONS-USDT	+0.0172%	4h	0.5938	−0.050%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0173%	1h	0.5938	−0.056%	$90K	$103K	5x	as long as short
edgeX PONSUSDC	+0.0188%	4h	0.5917	−0.396%	$21K	$293K	10x	as long as short
Lighter RH PONS	+0.0328%	1h	0.5943	+0.034%	$421K	$2.6M	3x	as long as short
BloFin PONS-USDT	+0.0404%	4h	0.5934	−0.118%	$1.7M	$975K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5942	+0.022%	$47K	$104K	3x	as long as short
Polymarket Perps PONS-USD	+0.0485%	1h	0.5938	−0.044%	$37K	$1.8M	3x	as long as short
Hyperliquid PONS	+0.0599%	1h	0.5944	+0.057%	$59.8M	$30.0M	3x	as long as short
Lighter PONS	+0.0800%	1h	0.5943	+0.035%	$1.7M	$984K	3x	as long as short
Gate PONS_USDT	+0.1182%	4h	0.5938	−0.050%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5931	−0.162%	$30K	$96K	3x	as long as short