Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0047%/8h= +5.2% APRpaid last 24h +0.055%

Price spread now: Aster against ApeX Omni−0.402%99s7-day average −0.163% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as 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−$1011.009% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 3 days (all we have)+0.297%+$30 · spread now −0.402%, 7d avg −0.163%

Together, before fees+0.417%+ Points / potential airdropAster: Stage 5 · farm board+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.239% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.402% now, against its 7-day average of −0.163%). If the spread goes back, that is −$24 on $10k: about 17 days of funding at the current rate (+$1 a day). The two prices were read 99 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	ApeX Omni PONSUSDT	0.5929	0.0100	pay 0.0013% / 1h	51m 47s	$34K	$342K	5x
Short	Aster PONSUSDT	0.5906	0.0147	get 0.0074% / 4h	1h 51m	$1.1M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX Omni. 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now −0.402%Rate

Funding earned: $9.94
Price spread: −0.402% → −0.163%: −$23.9
Slippage, 4 orders: −$82.89
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$114.86
Costs to cover: 1.009%
Break-even: 87.9 days

Slippage from ApeX Omni: live order book, 31 min ago; Aster: live order book, 2 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 ApeX Omni live order book, 31 min ago	32.60 bp	40.5 bp −$40	115.9 bp −$1,159	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	3.98 bp	11.0 bp −$11	32.0 bp −$320	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 −0.0034%	1h	0.5902	−0.463%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5920	−0.167%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5913	−0.278%	$21K	$441K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5907	−0.379%	$17.6M	$31.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5909	−0.346%	$13.4M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5908	−0.354%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5913	−0.278%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5914	−0.253%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.5929	long leg	$34K	$342K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5914	−0.266%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5913	−0.280%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5907	−0.371%	$27K	$544K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5912	−0.297%	$63K	$505K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5906	−0.396%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5908	−0.354%	$368	—	3x	as long as short
Aster PONSUSDTshort	+0.0147%	4h	0.5906	−0.402%	$1.1M	$2.2M	20x
Nado PONS-PERP	+0.0156%	1h	0.5909	−0.344%	$89K	$103K	5x	as long as short
MEXC PONS_USDT	+0.0172%	4h	0.5909	−0.346%	$7.5M	$4.9M	20x	as long as short
BingX PONS-USDT	+0.0172%	4h	0.5907	−0.379%	—	$3.1M	—	as long as short
Binance PONSUSDT	+0.0172%	4h	0.5911	−0.314%	$38.4M	$98.0M	20x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5909	−0.352%	$106K	$523K	5x	as long as short
edgeX PONSUSDC	+0.0183%	4h	0.5927	−0.035%	$21K	$292K	10x	as long as short
Lighter RH PONS	+0.0312%	1h	0.5910	−0.331%	$420K	$2.6M	3x	as long as short
BloFin PONS-USDT	+0.0412%	4h	0.5905	−0.413%	$1.7M	$973K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5911	−0.311%	$47K	$103K	3x	as long as short
Polymarket Perps PONS-USD	+0.0455%	1h	0.5914	−0.260%	$37K	$1.8M	3x	as long as short
Hyperliquid PONS	+0.0579%	1h	0.5915	−0.248%	$59.5M	$29.9M	3x	as long as short
Lighter PONS	+0.0784%	1h	0.5914	−0.255%	$1.7M	$982K	3x	as long as short
Gate PONS_USDT	+0.1020%	4h	0.5907	−0.379%	$5.2M	$6.4M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5917	−0.219%	$30K	$96K	3x	as long as short