Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Phemex−0.017%7-day average +0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$210as in the Funding arb table

Net, price: spread back to 7d avg − costs−$220as in the Price arb table

costs, in and out, $10k−$2082.084% of the position

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.141%−$14 · spread now −0.017%, 7d avg +0.095%

Together, before fees−0.157%−$16 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 0.112% cheaper against Phemex than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.095%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.5906	0.0100	pay 0.0050% / 4h	2h 06m	$1.6M	$3.2M	20x
Short	ApeX Omni PONSUSDT	0.5905	0.0100	get 0.0013% / 1h	6m 33s	$29K	$329K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → +0.095%: −$11.15
Slippage, 4 orders: −$186.41
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$219.56
Costs to cover: 2.084%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; ApeX Omni: live order book, 41 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 Phemex live order book, 2 min ago	5.92 bp	41.8 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 41 min ago	32.31 bp	71.0 bp −$71	150.3 bp −$1,503	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 +0.0033% / S −0.0032%	1h	0.5905	−0.009%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.075%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5912	+0.100%	$402K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5913	+0.119%	$21K	$424K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5921	+0.254%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5913	+0.121%	$69K	$131K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5909	+0.051%	$5.3M	$6.4M	20x	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.5905	−0.017%	$29K	$329K	5x
SunX PONS-USDT	+0.0100%	4h	0.5915	+0.152%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5913	+0.117%	$25K	$585K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDT	+0.0100%	4h	0.5901	−0.080%	$64K	$524K	20x	as long as short
Phemex PONSUSDTlong	+0.0100%	4h	0.5906	long leg	$1.6M	$3.2M	20x
Hyperliquid PONS	+0.0222%	1h	0.5913	+0.117%	$60.0M	$29.5M	3x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5903	−0.056%	$368	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0426%	4h	0.5912	+0.102%	$13.4M	$55.8M	20x	as long as short
Aster PONSUSDT	+0.0485%	4h	0.5911	+0.081%	$1.1M	$2.2M	20x	as long as short
Binance PONSUSDT	+0.0597%	4h	0.5914	+0.143%	$37.4M	$98.2M	20x	as long as short
Extended PONS-USD	+0.0600%	1h	0.5912	+0.094%	$101K	$811K	5x	as long as short
MEXC PONS_USDT	+0.0602%	4h	0.5913	+0.119%	$7.5M	$4.8M	20x	as long as short
edgeX PONSUSDC	+0.0605%	4h	0.5912	+0.095%	$20K	$294K	10x	as long as short
Bitget PONSUSDT	+0.0640%	4h	0.5916	+0.174%	$4.7M	$12.2M	20x	as long as short
Variational Omni PONS	+0.0661%	4h	0.5911	+0.093%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0700%	4h	0.5914	+0.132%	$1.6M	$3.8M	20x	as long as short
Pacifica PONS	+0.0715%	1h	0.5913	+0.113%	$45K	$69K	3x	as long as short
Polymarket Perps PONS-USD	+0.0732%	1h	0.5915	+0.152%	$91K	$1.9M	3x	as long as short
Lighter PONS	+0.0792%	1h	0.5912	+0.108%	$1.6M	$939K	3x	as long as short
BloFin PONS-USDT	+0.0843%	4h	0.5915	+0.152%	$1.7M	$959K	20x	as long as short
BingX PONS-USDT	+0.0926%	4h	0.5915	+0.152%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0968%	4h	0.5912	+0.102%	$17.6M	$31.5M	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5911	+0.088%	$45K	$121K	3x	as long as short