Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0250%/8h= +27.4% APRpaid last 24h +0.065%

Price spread now: Aster against gTrade (Gains Network)−0.210%7-day average +0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$4,641as in the Price arb table

costs, in and out, $10k−$4,61146.106% of the position

Long on gTrade (Gains Network)Short on Aster

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.084%+$8 on $10k

Price spread, last 3 days (all we have)+0.254%+$25 · spread now −0.210%, 7d avg +0.096%

Together, before fees+0.338%+ Points / potential airdropAster: Stage 5 · farm board+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.306% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.210% now, against its 7-day average of +0.096%). If the spread goes back, that is −$31 on $10k: about 4.1 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.6013	L +0.0033% / S −0.0033%	pay 0.0004% / 1h	53m 24s	$238K	—	150x
Short	Aster PONSUSDT	0.6001	0.0283	get 0.0141% / 4h	2h 53m	$1.1M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee AsterbpOrdersPrice spread, now −0.210%Rate

Funding earned: $52.49
Price spread: −0.210% → +0.096%: −$30.63
Slippage, 4 orders: −$4,590.61
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$4,588.75
Costs to cover: 46.106%
Break-even: 619.0 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 16 min ago; Aster: live order book, 5 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 gTrade (Gains Network) virtual book (oracle venue), 16 min ago	130.01 bp	2119.7 bp −$2,120	16868.4 bp −$168.7K	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	2.24 bp	12.0 bp −$12	27.0 bp −$270	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/USDlong	L +0.0033% / S −0.0033%	1h	0.6013	long leg	$238K	—	150x
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.732%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6011	−0.043%	$423K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6021	+0.125%	$17K	$421K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5976	−0.631%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6016	+0.037%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6022	+0.140%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5987	−0.444%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5986	−0.459%	$26K	$532K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5987	−0.442%	$64K	$510K	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	0.6002	−0.191%	$1.7M	$3.2M	20x	as long as short
Lighter PONS	+0.0136%	1h	0.6010	−0.058%	$1.7M	$881K	3x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.5981	−0.537%	$373	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0231%	4h	0.6026	+0.208%	$13.8M	$55.7M	20x	as long as short
KuCoin PONSUSDTM	+0.0236%	4h	0.6015	+0.027%	$1.7M	$3.7M	20x	as long as short
Aster PONSUSDTshort	+0.0283%	4h	0.6001	−0.210%	$1.1M	$2.0M	20x
Bitget PONSUSDT	+0.0290%	4h	0.6022	+0.150%	$4.7M	$11.4M	20x	as long as short
MEXC PONS_USDT	+0.0372%	4h	0.6021	+0.125%	$7.8M	$4.7M	20x	as long as short
Bybit PONSUSDT	+0.0374%	4h	0.6026	+0.208%	$18.1M	$30.8M	20x	as long as short
Extended PONS-USD	+0.0376%	1h	0.6014	+0.015%	$248K	$682K	5x	as long as short
Binance PONSUSDT	+0.0380%	4h	0.6025	+0.191%	$39.5M	$96.0M	20x	as long as short
edgeX PONSUSDC	+0.0403%	4h	0.6016	+0.042%	$21K	$291K	10x	as long as short
Nado PONS-PERP	+0.0414%	1h	0.6020	+0.108%	$104K	$115K	5x	as long as short
BingX PONS-USDT	+0.0434%	4h	0.6023	+0.158%	—	$3.1M	—	as long as short
BloFin PONS-USDT	+0.0619%	4h	0.5985	−0.474%	$1.8M	$980K	20x	as long as short
Hyperliquid PONS	+0.0681%	1h	0.6021	+0.130%	$61.2M	$28.6M	3x	as long as short
Polymarket Perps PONS-USD	+0.0783%	1h	0.6021	+0.120%	$46K	$1.6M	3x	as long as short
Gate PONS_USDT	+0.0796%	4h	0.6015	+0.025%	$5.3M	$6.1M	20x	as long as short
Pacifica PONS	+0.0869%	1h	0.6012	−0.024%	$47K	$78K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6016	+0.042%	$31K	$107K	3x	as long as short