Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h +0.159%

Price spread now: BingX against ApeX Omni−0.045%53s7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as 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−$1051.045% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.646%+$65 on $10k

Price spread, last 3 days (all we have)+0.008%+$1 · spread now −0.045%, 7d avg −0.087%

Together, before fees+0.654%+$65 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BingX is 0.042% dearer against ApeX Omni than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.087%. The two prices were read 53 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	ApeX Omni PONSUSDT	0.5993	0.0100	pay 0.0013% / 1h	18m 33s	$35K	$351K	5x
Short	BingX PONS-USDT	0.5990	0.0192	get 0.0096% / 4h	1h 18m	—	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now −0.045%Rate

Funding earned: $19.32
Price spread: −0.045% → −0.087%: $4.21
Slippage, 4 orders: −$84.52
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$80.99
Costs to cover: 1.045%
Break-even: 36.3 days

Slippage from ApeX Omni: live order book, 64 min ago; BingX: live order book, 6 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 ApeX Omni live order book, 64 min ago	32.60 bp	40.5 bp −$40	115.9 bp −$1,159	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	2.50 bp	13.1 bp −$13	37.4 bp −$374	146.2 bp −$14.6K	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 −0.0034%	1h	0.5984	−0.147%	$219K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.387%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5991	−0.028%	$20K	$438K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5989	−0.062%	$17.9M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5991	−0.028%	$13.5M	$56.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5989	−0.053%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5994	+0.028%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5988	−0.083%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.5993	long leg	$35K	$351K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5993	+0.007%	$3K	$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	0.5990	−0.045%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5989	−0.065%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5993	−0.002%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5986	−0.112%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5987	−0.095%	$373	—	3x	as long as short
Aster PONSUSDT	+0.0137%	4h	0.5987	−0.098%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0184%	1h	0.5991	−0.026%	$248K	$667K	5x	as long as short
MEXC PONS_USDT	+0.0184%	4h	0.5991	−0.028%	$7.8M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0186%	4h	0.5992	−0.012%	$39.0M	$97.8M	20x	as long as short
BingX PONS-USDTshort	+0.0192%	4h	0.5990	−0.045%	—	$3.1M	—
edgeX PONSUSDC	+0.0192%	4h	0.5985	−0.132%	$21K	$293K	10x	as long as short
Nado PONS-PERP	+0.0220%	1h	0.5990	−0.041%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0344%	1h	0.5990	−0.043%	$423K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0426%	4h	0.5986	−0.112%	$1.7M	$981K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5993	+0.002%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0491%	1h	0.5993	+0.005%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0685%	1h	0.5996	+0.057%	$60.6M	$30.1M	3x	as long as short
Lighter PONS	+0.0688%	1h	0.5990	−0.038%	$1.7M	$998K	3x	as long as short
Gate PONS_USDT	+0.1378%	4h	0.5987	−0.095%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5991	−0.027%	$30K	$96K	3x	as long as short