Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0049%/8h= −5.3% APRpaid last 24h −0.055%

Price spread now: ApeX Omni against Aster+0.032%7-day average +0.163% · you sell dearer than you buy

Net, funding: paid 7d − costs−$117as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1051.050% of the position

Long on Aster Short on ApeX Omni

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)+0.074%+$7 · spread now +0.032%, 7d avg +0.163%

Together, before fees−0.046%+ Points / potential airdropAster: Stage 5 · farm board−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and ApeX Omni is 0.132% cheaper against Aster than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.163%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PONSUSDT	0.5992	0.0149	pay 0.0074% / 4h	1h 23m	$1.1M	$2.2M	20x
Short	ApeX Omni PONSUSDT	0.5994	0.0100	get 0.0013% / 1h	23m 20s	$35K	$350K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Aster. 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 AsterbpFee ApeX OmnibpOrdersPrice spread, now +0.032%Rate

Funding earned: −$10.2
Price spread: +0.032% → +0.163%: −$13.17
Slippage, 4 orders: −$86.99
Fee Aster: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$128.36
Costs to cover: 1.050%
Break-even: never at this rate

Slippage from Aster: 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 Aster live order book, 5 min ago	3.28 bp	13.3 bp −$13	33.5 bp −$335	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 59 min ago	32.60 bp	40.6 bp −$41	125.6 bp −$1,256	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 −0.0034%	1h	0.5981	−0.192%	$219K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.382%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5989	−0.057%	$19K	$438K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5986	−0.107%	$17.9M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5985	−0.123%	$13.5M	$56.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5988	−0.067%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5990	−0.032%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5961	−0.520%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDTshort	+0.0100%	1h	0.5994	+0.032%	$35K	$350K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5995	+0.045%	$3K	$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	0.5990	−0.032%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5988	−0.082%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6000	+0.120%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5989	−0.057%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5987	−0.090%	$373	—	3x	as long as short
Aster PONSUSDTlong	+0.0149%	4h	0.5992	long leg	$1.1M	$2.2M	20x
BingX PONS-USDT	+0.0166%	4h	0.5986	−0.107%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0174%	4h	0.5991	−0.021%	$21K	$292K	10x	as long as short
MEXC PONS_USDT	+0.0182%	4h	0.5988	−0.073%	$7.7M	$4.9M	20x	as long as short
Extended PONS-USD	+0.0192%	1h	0.5986	−0.107%	$248K	$667K	5x	as long as short
Binance PONSUSDT	+0.0192%	4h	0.5988	−0.081%	$38.9M	$97.8M	20x	as long as short
Nado PONS-PERP	+0.0236%	1h	0.5988	−0.076%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0400%	1h	0.5991	−0.025%	$423K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0432%	4h	0.5985	−0.123%	$1.7M	$981K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5986	−0.099%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0499%	1h	0.5991	−0.023%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0678%	1h	0.5993	+0.012%	$60.5M	$30.0M	3x	as long as short
Lighter PONS	+0.0752%	1h	0.5989	−0.058%	$1.7M	$998K	3x	as long as short
Gate PONS_USDT	+0.1288%	4h	0.5984	−0.140%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5990	−0.045%	$30K	$96K	3x	as long as short