Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0079%/8h= +8.7% APRpaid last 24h +0.030%

Price spread now: OKX against ApeX Omni+0.054%7-day average −0.128% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1481.478% of the position

Long on ApeX Omni Short on OKX

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)−0.115%−$11 · spread now +0.054%, 7d avg −0.128%

Together, before fees+0.158%+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and OKX is 0.182% dearer against ApeX Omni than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.128%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PONSUSDT	0.6116	0.0100	pay 0.0013% / 1h	27m 05s	$34K	$358K	5x
Short	OKX PONS-USDT-SWAP	0.6119	0.0179	get 0.0090% / 4h	3h 27m	$14.0M	$57.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.054%Rate

Funding earned: $16.68
Price spread: +0.054% → −0.128%: $18.23
Slippage, 4 orders: −$127.84
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$112.93
Costs to cover: 1.478%
Break-even: 54.4 days

Slippage from ApeX Omni: live order book, 45 min ago; OKX: 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, 45 min ago	46.45 bp	58.8 bp −$59	138.2 bp −$1,382	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.82 bp	12.3 bp −$12	32.2 bp −$322	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 −0.0033%	1h	0.6110	−0.096%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.391%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6119	+0.052%	$433K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6121	+0.087%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6105	−0.182%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.6116	long leg	$34K	$358K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6126	+0.160%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6120	+0.065%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6120	+0.064%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6130	+0.231%	$65K	$510K	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	0.6113	−0.044%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6121	+0.087%	$381	—	3x	as long as short
OKX PONS-USDT-SWAPshort	+0.0179%	4h	0.6119	+0.054%	$14.0M	$57.2M	20x
KuCoin PONSUSDTM	+0.0184%	4h	0.6117	+0.016%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0244%	4h	0.6123	+0.123%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0268%	4h	0.6118	+0.043%	$1.1M	$2.1M	20x	as long as short
MEXC PONS_USDT	+0.0356%	4h	0.6120	+0.070%	$8.0M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0368%	4h	0.6114	−0.028%	$40.1M	$96.7M	20x	as long as short
edgeX PONSUSDC	+0.0368%	4h	0.6115	−0.007%	$21K	$292K	10x	as long as short
Extended PONS-USD	+0.0368%	1h	0.6117	+0.016%	$253K	$679K	5x	as long as short
Lighter PONS	+0.0504%	1h	0.6119	+0.052%	$1.7M	$931K	3x	as long as short
BloFin PONS-USDT	+0.0608%	4h	0.6117	+0.021%	$1.8M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0613%	1h	0.6117	+0.023%	$106K	$115K	5x	as long as short
BingX PONS-USDT	+0.0648%	4h	0.6122	+0.103%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0660%	4h	0.6118	+0.038%	$18.4M	$30.9M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6115	−0.005%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0778%	1h	0.6120	+0.075%	$44K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0898%	1h	0.6120	+0.065%	$62.2M	$29.2M	3x	as long as short
Gate PONS_USDT	+0.1012%	4h	0.6114	−0.028%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6110	−0.096%	$32K	$113K	3x	as long as short