Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0248%/8h= +27.1% APRpaid last 24h +0.026%

Price spread now: Aster against Aevo−0.040%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.040% cheaper against Aevo than usual: you would sell low and buy high (spread −0.040% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 13 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PONS-PERP	0.5920	0.0200	pay 0.0025% / 1h	8m 14s	$369	—	3x
Short	Aster PONSUSDT	0.5917	0.0448	get 0.0224% / 4h	1h 08m	$1.1M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aevo. 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 AevobpFee AsterbpOrdersPrice spread, now −0.040%Rate

Funding earned: $52.04
Price spread: −0.040% → 0.000%: −$4
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Aster: 4 bp × 2 orders: −$8
Net: $24.03
Costs to cover: 0.240%
Break-even: 3.8 days

Slippage unknown: Aevo: no order-book sample; Aster: live order book, 5 min ago. Net counts fees only.

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 Aevo no order-book sample	—	—	—	—	—
Sell Aster live order book, 5 min ago	4.48 bp	11.7 bp −$12	40.6 bp −$406	doesn't fit	doesn't fit

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0030%	1h	0.5913	−0.106%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	+0.318%	$610	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5916	−0.069%	$410K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5916	−0.062%	$22K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5925	+0.083%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5917	−0.052%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5921	+0.019%	$29K	$314K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5920	+0.006%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5920	+0.006%	$26K	$581K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5920	+0.007%	$64K	$526K	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	0.5918	−0.028%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERPlong	+0.0200%	1h	0.5920	long leg	$369	—	3x
Hyperliquid PONS	+0.0288%	1h	0.5920	+0.004%	$60.1M	$29.5M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0406%	4h	0.5919	−0.011%	$13.4M	$55.3M	20x	as long as short
Aster PONSUSDTshort	+0.0448%	4h	0.5917	−0.040%	$1.1M	$2.2M	20x
MEXC PONS_USDT	+0.0486%	4h	0.5920	+0.006%	$7.6M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0487%	4h	0.5919	−0.011%	$37.3M	$98.0M	20x	as long as short
Extended PONS-USD	+0.0488%	1h	0.5917	−0.043%	$101K	$807K	5x	as long as short
edgeX PONSUSDC	+0.0497%	4h	0.5920	+0.010%	$20K	$289K	10x	as long as short
Pacifica PONS	+0.0556%	1h	0.5917	−0.053%	$45K	$68K	3x	as long as short
Variational Omni PONS	+0.0564%	4h	0.5916	−0.064%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0600%	4h	0.5919	−0.011%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0639%	1h	0.5918	−0.023%	$87K	$1.9M	3x	as long as short
BingX PONS-USDT	+0.0678%	4h	0.5919	−0.011%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0679%	4h	0.5920	+0.006%	$17.5M	$31.2M	20x	as long as short
Bitget PONSUSDT	+0.0680%	4h	0.5924	+0.070%	$4.7M	$12.2M	20x	as long as short
BloFin PONS-USDT	+0.0728%	4h	0.5917	−0.045%	$1.7M	$941K	20x	as long as short
Gate PONS_USDT	+0.0786%	4h	0.5915	−0.079%	$5.3M	$6.3M	20x	as long as short
Lighter PONS	+0.0888%	1h	0.5920	+0.001%	$1.6M	$832K	3x	as long as short
Phoenix PONS	+0.1472%	1h	0.5921	+0.021%	$45K	$127K	3x	as long as short