Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h +0.042%

Price spread now: Extended against Aster−0.192%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$720.716% of the position

Long on Aster Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.453%+$45 on $10k

Price spread, last 4 days (all we have)+0.217%+$22 · spread now −0.192%, 7d avg +0.027%

Together, before fees+0.670%+ Points / potential airdropAster: Stage 5 · Extended: Active · farm board+$67 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.218% cheaper against Aster than usual: you would sell low and buy high (spread −0.192% now, against its 7-day average of +0.027%). If the spread goes back, that is −$22 on $10k: about 2 months of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.453% in total) that is about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PONSUSDT	0.6036	0.0422	pay 0.0211% / 4h	2h 09m	$1.1M	$2.0M	20x
Short	Extended PONS-USD	0.6024	0.0432	get 0.0054% / 1h	9m 55s	$249K	$672K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.192%Rate

Funding earned: $2.07
Price spread: −0.192% → +0.027%: −$21.82
Slippage, 4 orders: −$58.55
Fee Aster: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$91.31
Costs to cover: 0.716%
Break-even: 316.3 days

Slippage from Aster: live order book, 3 min ago; Extended: live order book, 58 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, 3 min ago	2.15 bp	8.9 bp −$9	28.0 bp −$280	doesn't fit	doesn't fit
Sell Extended live order book, 58 min ago	11.01 bp	24.6 bp −$25	178.2 bp −$1,782	doesn't fit	doesn't fit

PONS on 29 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 −0.0033%	1h	0.6022	−0.237%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.100%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6034	−0.031%	$20K	$422K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6037	+0.026%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6058	+0.372%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6037	+0.015%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6033	−0.048%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6031	−0.073%	$26K	$524K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6055	+0.310%	$64K	$508K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6030	−0.097%	$1.7M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0144%	1h	0.6031	−0.079%	$424K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0192%	1h	0.6031	−0.073%	$376	—	3x	as long as short
Lighter PONS	+0.0232%	1h	0.6032	−0.069%	$1.7M	$886K	3x	as long as short
OKX PONS-USDT-SWAP	+0.0256%	4h	0.6024	−0.197%	$13.8M	$54.8M	20x	as long as short
Nado PONS-PERP	+0.0259%	1h	0.6033	−0.053%	$71K	$131K	5x	as long as short
KuCoin PONSUSDTM	+0.0260%	4h	0.6030	−0.101%	$1.7M	$3.6M	20x	as long as short
Bitget PONSUSDT	+0.0346%	4h	0.6028	−0.124%	$4.7M	$11.3M	20x	as long as short
Bybit PONSUSDT	+0.0386%	4h	0.6023	−0.213%	$18.0M	$30.4M	20x	as long as short
BingX PONS-USDT	+0.0414%	4h	0.6030	−0.097%	—	$3.0M	—	as long as short
Aster PONSUSDTlong	+0.0422%	4h	0.6036	long leg	$1.1M	$2.0M	20x
edgeX PONSUSDC	+0.0426%	4h	0.6072	+0.592%	$21K	$294K	10x	as long as short
MEXC PONS_USDT	+0.0428%	4h	0.6028	−0.130%	$7.7M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0432%	4h	0.6027	−0.154%	$39.5M	$94.6M	20x	as long as short
Extended PONS-USDshort	+0.0432%	1h	0.6024	−0.192%	$249K	$672K	5x
Hyperliquid PONS	+0.0689%	1h	0.6030	−0.091%	$61.4M	$28.0M	3x	as long as short
Gate PONS_USDT	+0.0714%	4h	0.6027	−0.147%	$5.3M	$6.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0758%	1h	0.6032	−0.064%	$47K	$1.5M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6040	+0.069%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6057	+0.348%	$31K	$107K	3x	as long as short