Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0528%/8h= −57.8% APRpaid last 24h −0.129%

Price spread now: ApeX Omni against BingX+0.043%53s7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$211as 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−$1461.461% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.649%−$65 on $10k

Price spread, last 3 days (all we have)+0.025%+$3 · spread now +0.043%, 7d avg +0.075%

Together, before fees−0.624%−$62 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and ApeX Omni is 0.032% cheaper against BingX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.075%). Swap the legs. 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	BingX PONS-USDT	0.6087	0.0628	pay 0.0314% / 4h	3h 34m	—	$3.1M	—
Short	ApeX Omni PONSUSDT	0.6090	0.0100	get 0.0013% / 1h	34m 32s	$33K	$359K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now +0.043%Rate

Funding earned: −$110.88
Price spread: +0.043% → +0.075%: −$3.23
Slippage, 4 orders: −$126.08
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$260.19
Costs to cover: 1.461%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; ApeX Omni: live order book, 38 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 BingX live order book, 10 min ago	0.82 bp	9.7 bp −$10	26.3 bp −$263	365.8 bp −$36.6K	doesn't fit
Sell ApeX Omni live order book, 38 min ago	46.45 bp	64.9 bp −$65	153.7 bp −$1,537	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	0.6081	−0.100%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.930%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6077	−0.159%	$431K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6092	+0.082%	$20K	$416K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6077	−0.163%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.6090	+0.043%	$33K	$359K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6083	−0.071%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6079	−0.131%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6076	−0.189%	$28K	$552K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6091	+0.069%	$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	0.6078	−0.148%	$1.7M	$3.2M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0139%	4h	0.6089	+0.033%	$13.8M	$57.0M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6078	−0.156%	$379	—	3x	as long as short
KuCoin PONSUSDTM	+0.0172%	4h	0.6085	−0.039%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0216%	4h	0.6093	+0.099%	$4.7M	$11.5M	20x	as long as short
Aster PONSUSDT	+0.0228%	4h	0.6076	−0.175%	$1.1M	$2.2M	20x	as long as short
Binance PONSUSDT	+0.0338%	4h	0.6086	−0.010%	$39.9M	$97.0M	20x	as long as short
MEXC PONS_USDT	+0.0342%	4h	0.6084	−0.049%	$7.9M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0344%	1h	0.6075	−0.199%	$252K	$683K	5x	as long as short
edgeX PONSUSDC	+0.0350%	4h	0.6084	−0.049%	$21K	$293K	10x	as long as short
Lighter PONS	+0.0432%	1h	0.6081	−0.095%	$1.7M	$896K	3x	as long as short
BloFin PONS-USDT	+0.0583%	4h	0.6080	−0.115%	$1.7M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0595%	1h	0.6086	−0.020%	$105K	$115K	5x	as long as short
BingX PONS-USDTlong	+0.0628%	4h	0.6087	long leg	—	$3.1M	—
Pacifica PONS	+0.0665%	1h	0.6079	−0.130%	$48K	$87K	3x	as long as short
Bybit PONSUSDT	+0.0718%	4h	0.6087	0.000%	$18.3M	$31.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0750%	1h	0.6093	+0.092%	$44K	$1.6M	3x	as long as short
Gate PONS_USDT	+0.0816%	4h	0.6075	−0.197%	$5.3M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0914%	1h	0.6094	+0.108%	$62.0M	$29.2M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6083	−0.057%	$31K	$113K	3x	as long as short