Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h −0.098%

Price spread now: ApeX Omni against Binance−0.305%99s7-day average +0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs−$153as 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−$1081.078% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.450%−$45 on $10k

Price spread, last 3 days (all we have)+0.410%+$41 · spread now −0.305%, 7d avg +0.107%

Together, before fees−0.040%−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and ApeX Omni is 0.412% cheaper against Binance than usual: you would sell low and buy high (−$41 if the spread goes back to its 7-day average of +0.107%). Swap the legs. The two prices were read 99 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	Binance PONSUSDT	0.5892	0.0166	pay 0.0083% / 4h	2h 03m	$38.3M	$98.3M	20x
Short	ApeX Omni PONSUSDT	0.5874	0.0100	get 0.0013% / 1h	3m 51s	$34K	$338K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.305%Rate

Funding earned: −$13.8
Price spread: −0.305% → +0.107%: −$41.24
Slippage, 4 orders: −$87.8
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$162.84
Costs to cover: 1.078%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; ApeX Omni: live order book, 19 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 Binance live order book, 9 min ago	0.85 bp	13.5 bp −$13	50.8 bp −$508	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 19 min ago	32.60 bp	40.6 bp −$41	125.6 bp −$1,256	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 +0.0032% / S −0.0034%	1h	0.5866	−0.445%	$215K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.468%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5870	−0.373%	$21K	$442K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5888	−0.068%	$17.6M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5886	−0.102%	$13.4M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5877	−0.256%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5891	−0.014%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5857	−0.590%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.5874	−0.305%	$34K	$338K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5879	−0.221%	$2K	$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	0.5874	−0.305%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5879	−0.227%	$27K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5878	−0.234%	$63K	$505K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5874	−0.305%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5874	−0.300%	$366	—	3x	as long as short
Nado PONS-PERP	+0.0128%	1h	0.5871	−0.356%	$89K	$103K	5x	as long as short
Aster PONSUSDT	+0.0149%	4h	0.5875	−0.294%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0164%	4h	0.5889	−0.051%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDTlong	+0.0166%	4h	0.5892	long leg	$38.3M	$98.3M	20x
Extended PONS-USD	+0.0168%	1h	0.5889	−0.045%	$105K	$532K	5x	as long as short
BingX PONS-USDT	+0.0170%	4h	0.5888	−0.068%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0173%	4h	0.5886	−0.094%	$21K	$292K	10x	as long as short
Polymarket Perps PONS-USD	+0.0374%	1h	0.5871	−0.363%	$37K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0404%	4h	0.5863	−0.492%	$1.7M	$960K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5870	−0.373%	$47K	$103K	3x	as long as short
Lighter RH PONS	+0.0480%	1h	0.5875	−0.289%	$415K	$2.7M	3x	as long as short
Hyperliquid PONS	+0.0523%	1h	0.5886	−0.104%	$59.1M	$30.0M	3x	as long as short
Gate PONS_USDT	+0.0704%	4h	0.5876	−0.272%	$5.1M	$6.8M	20x	as long as short
Lighter PONS	+0.0944%	1h	0.5876	−0.272%	$1.7M	$900K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5870	−0.370%	$30K	$86K	3x	as long as short