Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Phemex−0.069%7-day average +0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$201as in the Funding arb table

Net, price: spread back to 7d avg − costs−$215as in the Price arb table

costs, in and out, $10k−$1991.992% of the position

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now −0.069%, 7d avg +0.093%

Together, before fees−0.033%−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.163% cheaper against Phemex than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.5912	0.0100	pay 0.0050% / 4h	1h 46m	$1.6M	$3.2M	20x
Short	ApeX Omni PONSUSDT	0.5908	0.0100	get 0.0013% / 1h	46m 21s	$29K	$320K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → +0.093%: −$16.26
Slippage, 4 orders: −$177.21
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$215.47
Costs to cover: 1.992%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; ApeX Omni: live order book, 61 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 Phemex live order book, 2 min ago	2.54 bp	39.2 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 61 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	0.5899	−0.217%	$234K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.973%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5908	−0.069%	$404K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5907	−0.085%	$21K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5913	+0.008%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5907	−0.091%	$69K	$131K	5x	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.5908	−0.069%	$29K	$320K	5x
SunX PONS-USDT	+0.0100%	4h	0.5910	−0.041%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5910	−0.025%	$25K	$586K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5918	+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 PONSUSDTlong	+0.0100%	4h	0.5912	long leg	$1.6M	$3.2M	20x
Aevo PONS-PERP	+0.0216%	1h	0.5908	−0.059%	$368	—	3x	as long as short
Gate PONS_USDT	+0.0272%	4h	0.5905	−0.118%	$5.3M	$6.3M	20x	as long as short
Hyperliquid PONS	+0.0296%	1h	0.5907	−0.079%	$60.0M	$29.6M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0414%	4h	0.5907	−0.085%	$13.4M	$55.7M	20x	as long as short
Polymarket Perps PONS-USD	+0.0450%	1h	0.5907	−0.078%	$91K	$1.9M	3x	as long as short
Aster PONSUSDT	+0.0466%	4h	0.5907	−0.079%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0552%	1h	0.5906	−0.109%	$101K	$811K	5x	as long as short
MEXC PONS_USDT	+0.0552%	4h	0.5906	−0.101%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0554%	4h	0.5906	−0.100%	$37.1M	$98.6M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5908	−0.066%	$45K	$68K	3x	as long as short
edgeX PONSUSDC	+0.0571%	4h	0.5914	+0.037%	$20K	$295K	10x	as long as short
Variational Omni PONS	+0.0644%	4h	0.5912	−0.008%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0652%	4h	0.5907	−0.078%	$1.6M	$3.8M	20x	as long as short
Bitget PONSUSDT	+0.0660%	4h	0.5909	−0.052%	$4.7M	$12.2M	20x	as long as short
BloFin PONS-USDT	+0.0794%	4h	0.5912	0.000%	$1.7M	$958K	20x	as long as short
Lighter PONS	+0.0800%	1h	0.5910	−0.030%	$1.6M	$828K	3x	as long as short
BingX PONS-USDT	+0.0806%	4h	0.5902	−0.169%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0816%	4h	0.5903	−0.152%	$17.6M	$31.4M	20x	as long as short
Phoenix PONS	+0.1472%	1h	0.5912	−0.003%	$45K	$127K	3x	as long as short