Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0316%/8h= −34.6% APRpaid last 24h −0.026%

Price spread now: ApeX Omni against OKX−0.359%60s7-day average +0.134% · you buy dearer than you sell

Net, funding: paid 7d − costs−$178as 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−$1511.507% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.277%−$28 on $10k

Price spread, last 4 days (all we have)+0.406%+$41 · spread now −0.359%, 7d avg +0.134%

Together, before fees+0.128%+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and ApeX Omni is 0.493% cheaper against OKX than usual: you would sell low and buy high (−$49 if the spread goes back to its 7-day average of +0.134%). Swap the legs. The two prices were read 60 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	OKX PONS-USDT-SWAP	0.5913	0.0416	pay 0.0208% / 4h	1h 48m	$13.4M	$55.8M	20x
Short	ApeX Omni PONSUSDT	0.5892	0.0100	get 0.0013% / 1h	48m 32s	$29K	$329K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.359%Rate

Funding earned: −$66.37
Price spread: −0.359% → +0.134%: −$49.26
Slippage, 4 orders: −$130.67
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$266.3
Costs to cover: 1.507%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; ApeX Omni: live order book, 59 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 OKX live order book, 5 min ago	0.85 bp	13.9 bp −$14	31.7 bp −$317	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 59 min ago	32.31 bp	71.0 bp −$71	150.3 bp −$1,503	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 −0.0032%	1h	0.5905	−0.136%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.956%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5916	+0.047%	$405K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5914	+0.017%	$21K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5920	+0.113%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5896	−0.285%	$69K	$131K	5x	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.5892	−0.359%	$29K	$329K	5x
SunX PONS-USDT	+0.0100%	4h	0.5911	−0.025%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5912	−0.022%	$25K	$586K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5907	−0.098%	$64K	$525K	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	0.5909	−0.068%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.5913	−0.008%	$368	—	3x	as long as short
Gate PONS_USDT	+0.0270%	4h	0.5910	−0.051%	$5.3M	$6.3M	20x	as long as short
Hyperliquid PONS	+0.0330%	1h	0.5915	+0.034%	$60.1M	$29.6M	3x	as long as short
OKX PONS-USDT-SWAPlong	+0.0416%	4h	0.5913	long leg	$13.4M	$55.8M	20x
Polymarket Perps PONS-USD	+0.0459%	1h	0.5914	+0.020%	$91K	$1.9M	3x	as long as short
Aster PONSUSDT	+0.0472%	4h	0.5918	+0.088%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5916	+0.056%	$45K	$68K	3x	as long as short
Binance PONSUSDT	+0.0559%	4h	0.5915	+0.034%	$37.2M	$98.5M	20x	as long as short
MEXC PONS_USDT	+0.0564%	4h	0.5914	+0.017%	$7.5M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0568%	1h	0.5914	+0.025%	$101K	$811K	5x	as long as short
edgeX PONSUSDC	+0.0584%	4h	0.5897	−0.271%	$20K	$294K	10x	as long as short
Variational Omni PONS	+0.0644%	4h	0.5912	−0.025%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0660%	4h	0.5913	+0.007%	$1.6M	$3.8M	20x	as long as short
Bitget PONSUSDT	+0.0662%	4h	0.5916	+0.056%	$4.7M	$12.2M	20x	as long as short
Lighter PONS	+0.0792%	1h	0.5918	+0.091%	$1.6M	$828K	3x	as long as short
BloFin PONS-USDT	+0.0805%	4h	0.5908	−0.085%	$1.7M	$957K	20x	as long as short
Bybit PONSUSDT	+0.0842%	4h	0.5913	0.000%	$17.6M	$31.5M	20x	as long as short
BingX PONS-USDT	+0.0848%	4h	0.5912	−0.017%	—	$3.0M	—	as long as short
Phoenix PONS	+0.1472%	1h	0.5894	−0.321%	$45K	$127K	3x	as long as short