Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0742%/8h= −81.2% APRpaid last 24h −0.169%

Price spread now: ApeX Omni against BloFin+1.079%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$224as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$1261.265% of the position

Long on BloFin Short on ApeX Omni

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)−1.143%−$114 · spread now +1.079%, 7d avg +0.064%

Together, before fees−2.121%−$212 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 1.015% dearer against BloFin than usual: you sell high and buy low (spread +1.079% now, against its 7-day average of +0.064%): +$102 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 4.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PONS-USDT	0.6218	0.0842	pay 0.0421% / 4h	37m 34s	$1.7M	$1.0M	20x
Short	ApeX Omni PONSUSDT	0.6285	0.0100	get 0.0013% / 1h	37m 34s	$31K	$303K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now +1.079%Rate

Funding earned: −$155.79
Price spread: +1.079% → +0.064%: $101.52
Slippage, 4 orders: −$104.49
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$180.76
Costs to cover: 1.265%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; ApeX Omni: live order book, 65 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 BloFin live order book, 5 min ago	12.67 bp	20.6 bp −$21	38.4 bp −$384	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 65 min ago	31.07 bp	43.7 bp −$44	131.0 bp −$1,310	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 −0.0029%	1h	0.6211	−0.115%	$236K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6216	−0.032%	$22K	$454K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6231	+0.216%	$73K	$130K	5x	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.6285	+1.079%	$31K	$303K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6228	+0.166%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6232	+0.228%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6222	+0.063%	$27K	$628K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6234	+0.262%	$67K	$536K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6215	−0.048%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6230	+0.186%	$388	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PONS-USDT-SWAP	+0.0426%	4h	0.6218	0.000%	$14.1M	$60.3M	20x	as long as short
Variational Omni PONS	+0.0520%	4h	0.6292	+1.194%	$1.5M	$4.2M	—	as long as short
Aster PONSUSDT	+0.0525%	4h	0.6206	−0.186%	$1.1M	$2.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0562%	4h	0.6206	−0.190%	$1.6M	$3.9M	20x	as long as short
Pacifica PONS	+0.0572%	1h	0.6208	−0.163%	$47K	$69K	3x	as long as short
Extended PONS-USD	+0.0600%	1h	0.6208	−0.169%	$105K	$818K	5x	as long as short
MEXC PONS_USDT	+0.0600%	4h	0.6212	−0.096%	$7.8M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0601%	4h	0.6207	−0.177%	$40.9M	$103.2M	20x	as long as short
edgeX PONSUSDC	+0.0620%	4h	0.6286	+1.101%	$21K	$289K	10x	as long as short
Lighter RH PONS	+0.0656%	1h	0.6208	−0.169%	$440K	$2.6M	3x	as long as short
BingX PONS-USDT	+0.0667%	4h	0.6224	+0.096%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0690%	4h	0.6210	−0.129%	$18.8M	$32.5M	20x	as long as short
Bitget PONSUSDT	+0.0706%	4h	0.6218	−0.002%	$4.9M	$12.8M	20x	as long as short
Hyperliquid PONS	+0.0769%	1h	0.6206	−0.193%	$63.1M	$30.2M	3x	as long as short
Lighter PONS	+0.0840%	1h	0.6213	−0.077%	$1.7M	$847K	3x	as long as short
BloFin PONS-USDTlong	+0.0842%	4h	0.6218	long leg	$1.7M	$1.0M	20x
Gate PONS_USDT	+0.0880%	4h	0.6203	−0.241%	$5.5M	$6.4M	20x	as long as short
Injective PONS/USDC PERP	+0.1069%	1h	0.5938	−4.495%	$610	$10K	5.5x	as long as short
Polymarket Perps PONS-USD	+0.1327%	1h	0.6234	+0.265%	$68K	$2.2M	3x	as long as short
Phoenix PONS	+0.1405%	1h	0.6308	+1.454%	$48K	$127K	3x	as long as short