Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0158%/8h= −17.3% APRpaid last 24h −0.093%

Price spread now: Aster against Polymarket Perps−0.178%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Polymarket Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.401%−$40 on $10k

Price spread, last 7 days+0.167%+$17 · spread now −0.178%, 7d avg +0.007%

Together, before fees−0.234%+ Points / potential airdropAster: Stage 5 · farm board−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Aster is 0.185% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PONS-USD	0.5839	0.0330	pay 0.0041% / 1h	40m 27s	$38K	$1.8M	3x
Short	Aster PONSUSDT	0.5829	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 Polymarket Perps. 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 Polymarket PerpsbpFee AsterbpOrdersPrice spread, now −0.178%Rate

Funding earned: −$33.11
Price spread: −0.178% → +0.007%: −$18.5
Slippage, 4 orders: −$17.85
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$85.46
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Aster: live order book, 3 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 Polymarket Perps live order book, 3 min ago	2.83 bp	6.8 bp −$7	7.3 bp −$73	doesn't fit	doesn't fit
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

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	−0.440%	$213K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+1.377%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5837	−0.038%	$21K	$448K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5833	−0.106%	$17.5M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5836	−0.055%	$13.3M	$55.4M	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5834	−0.089%	$5.1M	$6.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5837	−0.046%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5838	−0.015%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5819	−0.354%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5808	−0.539%	$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	−0.187%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5823	−0.277%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5820	−0.327%	$26K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5825	−0.240%	$63K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5819	−0.346%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5816	−0.391%	$362	—	3x	as long as short
MEXC PONS_USDT	+0.0150%	4h	0.5836	−0.055%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0151%	4h	0.5836	−0.054%	$38.0M	$98.3M	20x	as long as short
Extended PONS-USD	+0.0152%	1h	0.5835	−0.080%	$104K	$531K	5x	as long as short
BingX PONS-USDT	+0.0154%	4h	0.5835	−0.072%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0158%	4h	0.5808	−0.538%	$20K	$294K	10x	as long as short
Aster PONSUSDTshort	+0.0172%	4h	0.5829	−0.178%	$1.1M	$2.2M	20x
Nado PONS-PERP	+0.0173%	1h	0.5834	−0.087%	$88K	$103K	5x	as long as short
Lighter RH PONS	+0.0288%	1h	0.5830	−0.152%	$389K	$2.6M	3x	as long as short
Polymarket Perps PONS-USDlong	+0.0330%	1h	0.5839	long leg	$38K	$1.8M	3x
BloFin PONS-USDT	+0.0391%	4h	0.5819	−0.346%	$1.7M	$956K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5836	−0.061%	$46K	$102K	3x	as long as short
Hyperliquid PONS	+0.0582%	1h	0.5835	−0.080%	$58.3M	$30.0M	3x	as long as short
Lighter PONS	+0.0816%	1h	0.5834	−0.087%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5873	+0.582%	$27K	$86K	3x	as long as short