Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0106%/8h= +11.6% APRpaid last 24h +0.078%

Price spread now: Aster against Injective−1.640%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 1.640% cheaper against Injective than usual: you would sell low and buy high (spread −1.640% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$164 on $10k: about 52 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PONS/USDC PERP	0.5920	0.0066	pay 0.0008% / 1h	40m 43s	$609	$6K	5.5x
Short	Aster PONSUSDT	0.5822	0.0172	get 0.0086% / 4h	2h 40m	$1.1M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now −1.640%Rate

Funding earned: $22.27
Price spread: −1.640% → 0.000%: −$164.04
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$149.79
Costs to cover: 0.080%
Break-even: 54.1 days

Slippage unknown: Injective: no order-book sample; Aster: live order book, 3 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Aster live order book, 3 min ago	4.04 bp	11.1 bp −$11	38.7 bp −$387	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−1.792%	$213K	—	150x	as long as short
Injective PONS/USDC PERPlong	+0.0066%	1h	0.5920	long leg	$609	$6K	5.5x
Popdex PONSUSDT	+0.0096%	1h	0.5822	−1.649%	$20K	$450K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5835	−1.429%	$17.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5834	−1.446%	$13.3M	$55.4M	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5825	−1.598%	$5.1M	$6.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5837	−1.404%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5837	−1.389%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5813	−1.800%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5808	−1.890%	$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	−1.542%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5823	−1.632%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5820	−1.681%	$26K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5825	−1.595%	$63K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5819	−1.699%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5816	−1.744%	$362	—	3x	as long as short
MEXC PONS_USDT	+0.0150%	4h	0.5836	−1.412%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0151%	4h	0.5835	−1.434%	$37.9M	$98.4M	20x	as long as short
Extended PONS-USD	+0.0152%	1h	0.5822	−1.647%	$104K	$531K	5x	as long as short
BingX PONS-USDT	+0.0154%	4h	0.5835	−1.429%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0158%	4h	0.5808	−1.889%	$20K	$294K	10x	as long as short
Nado PONS-PERP	+0.0162%	1h	0.5818	−1.709%	$88K	$103K	5x	as long as short
Aster PONSUSDTshort	+0.0172%	4h	0.5822	−1.640%	$1.1M	$2.2M	20x
Lighter RH PONS	+0.0288%	1h	0.5830	−1.509%	$389K	$2.6M	3x	as long as short
Polymarket Perps PONS-USD	+0.0314%	1h	0.5820	−1.676%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0391%	4h	0.5819	−1.699%	$1.7M	$956K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5836	−1.418%	$46K	$102K	3x	as long as short
Hyperliquid PONS	+0.0582%	1h	0.5835	−1.438%	$58.3M	$30.0M	3x	as long as short
Lighter PONS	+0.0816%	1h	0.5834	−1.444%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5873	−0.784%	$27K	$86K	3x	as long as short