Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0700%/8h= +76.7% APRpaid last 24h +0.169%

Price spread now: BloFin against ApeX Omni+0.241%7-day average −0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1581.581% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.978%+$98 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.241%, 7d avg −0.067%

Together, before fees+0.956%+$96 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and BloFin is 0.308% dearer against ApeX Omni than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of −0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PONSUSDT	0.5892	0.0100	pay 0.0013% / 1h	50m 43s	$29K	$329K	5x
Short	BloFin PONS-USDT	0.5906	0.0800	get 0.0400% / 4h	1h 50m	$1.7M	$957K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.241%Rate

Funding earned: $147.09
Price spread: +0.241% → −0.067%: $30.79
Slippage, 4 orders: −$136.11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $19.78
Costs to cover: 1.581%
Break-even: 6.1 days

Slippage from ApeX Omni: live order book, 57 min ago; BloFin: live order book, 2 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, 57 min ago	32.31 bp	54.6 bp −$55	130.2 bp −$1,302	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	5.09 bp	17.3 bp −$17	31.5 bp −$315	112.9 bp −$11.3K	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	0.5894	+0.045%	$234K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.319%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5917	+0.436%	$407K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5920	+0.479%	$21K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5908	+0.278%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5896	+0.074%	$69K	$131K	5x	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.5892	long leg	$29K	$329K	5x
SunX PONS-USDT	+0.0100%	4h	0.5897	+0.080%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5905	+0.226%	$25K	$586K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5907	+0.255%	$64K	$525K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.5906	+0.241%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.5903	+0.197%	$368	—	3x	as long as short
Gate PONS_USDT	+0.0252%	4h	0.5909	+0.292%	$5.3M	$6.3M	20x	as long as short
Hyperliquid PONS	+0.0375%	1h	0.5919	+0.457%	$60.1M	$29.6M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0419%	4h	0.5921	+0.496%	$13.4M	$55.9M	20x	as long as short
Polymarket Perps PONS-USD	+0.0428%	1h	0.5901	+0.154%	$91K	$1.9M	3x	as long as short
Aster PONSUSDT	+0.0465%	4h	0.5915	+0.394%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5919	+0.457%	$45K	$69K	3x	as long as short
Extended PONS-USD	+0.0560%	1h	0.5920	+0.473%	$101K	$811K	5x	as long as short
MEXC PONS_USDT	+0.0560%	4h	0.5920	+0.479%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0560%	4h	0.5919	+0.462%	$37.2M	$98.5M	20x	as long as short
edgeX PONSUSDC	+0.0584%	4h	0.5897	+0.088%	$20K	$294K	10x	as long as short
Variational Omni PONS	+0.0644%	4h	0.5912	+0.335%	$1.4M	$4.1M	—	as long as short
Bitget PONSUSDT	+0.0660%	4h	0.5921	+0.504%	$4.7M	$12.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0672%	4h	0.5917	+0.433%	$1.6M	$3.8M	20x	as long as short
BloFin PONS-USDTshort	+0.0800%	4h	0.5906	+0.241%	$1.7M	$957K	20x
Lighter PONS	+0.0832%	1h	0.5920	+0.479%	$1.6M	$828K	3x	as long as short
BingX PONS-USDT	+0.0848%	4h	0.5917	+0.428%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0874%	4h	0.5918	+0.445%	$17.6M	$31.5M	20x	as long as short
Phoenix PONS	+0.1472%	1h	0.5894	+0.037%	$45K	$127K	3x	as long as short