Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h −0.045%

Price spread now: Aster against Extended−0.020%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$750.747% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.465%−$46 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now −0.020%, 7d avg −0.026%

Together, before fees−0.562%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board−$56 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.026%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.465%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.5821	0.0152	pay 0.0019% / 1h	41m 07s	$104K	$531K	5x
Short	Aster PONSUSDT	0.5820	0.0174	get 0.0087% / 4h	2h 41m	$1.1M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now −0.020%Rate

Funding earned: $4.6
Price spread: −0.020% → −0.026%: $0.66
Slippage, 4 orders: −$61.72
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$69.45
Costs to cover: 0.747%
Break-even: 112.6 days

Slippage from Extended: live order book, 46 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 Extended live order book, 46 min ago	11.93 bp	27.3 bp −$27	140.2 bp −$1,402	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	4.04 bp	11.1 bp −$11	38.7 bp −$387	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	0.5814	−0.124%	$213K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+1.698%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5822	+0.021%	$20K	$450K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5819	−0.030%	$17.5M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5820	−0.013%	$13.3M	$55.3M	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5821	+0.004%	$5.1M	$6.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5822	+0.023%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5822	+0.021%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5813	−0.133%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5808	−0.224%	$34K	$328K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5828	+0.130%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5823	+0.039%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5820	−0.011%	$26K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5825	+0.076%	$63K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5819	−0.030%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5816	−0.076%	$362	—	3x	as long as short
MEXC PONS_USDT	+0.0144%	4h	0.5822	+0.021%	$7.4M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0151%	4h	0.5822	+0.028%	$37.9M	$98.3M	20x	as long as short
Extended PONS-USDlong	+0.0152%	1h	0.5821	long leg	$104K	$531K	5x
BingX PONS-USDT	+0.0154%	4h	0.5820	−0.013%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0158%	4h	0.5808	−0.223%	$20K	$294K	10x	as long as short
Nado PONS-PERP	+0.0162%	1h	0.5818	−0.040%	$88K	$103K	5x	as long as short
Aster PONSUSDTshort	+0.0174%	4h	0.5820	−0.020%	$1.1M	$2.2M	20x
Lighter RH PONS	+0.0176%	1h	0.5822	+0.021%	$389K	$2.6M	3x	as long as short
Polymarket Perps PONS-USD	+0.0314%	1h	0.5820	−0.006%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0391%	4h	0.5819	−0.030%	$1.7M	$956K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5820	−0.011%	$46K	$102K	3x	as long as short
Hyperliquid PONS	+0.0561%	1h	0.5824	+0.055%	$58.1M	$30.0M	3x	as long as short
Lighter PONS	+0.0816%	1h	0.5825	+0.068%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5873	+0.901%	$27K	$86K	3x	as long as short