Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0086%/8h= +9.4% APRpaid last 24h +0.098%

Price spread now: MEXC against ApeX Omni+0.266%51s7-day average −0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as 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−$910.909% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.449%+$45 on $10k

Price spread, last 3 days (all we have)−0.241%−$24 · spread now +0.266%, 7d avg −0.110%

Together, before fees+0.209%+$21 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 MEXC is 0.376% dearer against ApeX Omni than usual: you sell high and buy low: +$38 more if the spread goes back to its 7-day average of −0.110%. 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	ApeX Omni PONSUSDT	0.6007	0.0100	pay 0.0013% / 1h	4m 32s	$35K	$354K	5x
Short	MEXC PONS_USDT	0.6023	0.0186	get 0.0093% / 4h	1h 04m	$7.9M	$5.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.266%Rate

Funding earned: $18.06
Price spread: +0.266% → −0.110%: $37.59
Slippage, 4 orders: −$80.87
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$35.22
Costs to cover: 0.909%
Break-even: 20.7 days

Slippage from ApeX Omni: live order book, 13 min ago; MEXC: live order book, 8 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, 13 min ago	28.62 bp	36.3 bp −$36	127.6 bp −$1,276	doesn't fit	doesn't fit
Sell MEXC live order book, 8 min ago	0.83 bp	3.9 bp −$4	12.5 bp −$125	390.0 bp −$39.0K	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 −0.0036%	1h	0.6007	−0.001%	$226K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.624%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6040	+0.549%	$16K	$444K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6036	+0.483%	$18.1M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6037	+0.499%	$13.6M	$56.9M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6025	+0.298%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.6039	+0.539%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6007	+0.003%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.6007	long leg	$35K	$354K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6024	+0.290%	$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	0.6014	+0.112%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6018	+0.186%	$27K	$545K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6028	+0.358%	$65K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6012	+0.083%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.6018	+0.189%	$375	—	3x	as long as short
Aster PONSUSDT	+0.0134%	4h	0.6023	+0.266%	$1.1M	$2.2M	20x	as long as short
BingX PONS-USDT	+0.0178%	4h	0.6021	+0.233%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0184%	1h	0.6025	+0.296%	$249K	$670K	5x	as long as short
edgeX PONSUSDC	+0.0185%	4h	0.6003	−0.061%	$21K	$293K	10x	as long as short
MEXC PONS_USDTshort	+0.0186%	4h	0.6023	+0.266%	$7.9M	$5.0M	20x
Binance PONSUSDT	+0.0194%	4h	0.6031	+0.408%	$39.3M	$97.9M	20x	as long as short
Nado PONS-PERP	+0.0207%	1h	0.6031	+0.408%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0280%	1h	0.6021	+0.231%	$425K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0427%	4h	0.6019	+0.200%	$1.7M	$984K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.6023	+0.271%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0503%	1h	0.6039	+0.534%	$38K	$1.7M	3x	as long as short
Lighter PONS	+0.0632%	1h	0.6021	+0.231%	$1.7M	$1.0M	3x	as long as short
Hyperliquid PONS	+0.0688%	1h	0.6025	+0.291%	$61.0M	$30.1M	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.6015	+0.128%	$31K	$96K	3x	as long as short
Gate PONS_USDT	+0.1582%	4h	0.6013	+0.100%	$5.3M	$6.5M	20x	as long as short