Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.056%

Price spread now: Aster against Popdex−0.094%7-day average −0.057% · 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−$201as in the Price arb table

costs, in and out, $10k−$1971.970% of the position

Long on Popdex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.123%+$12 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now −0.094%, 7d avg −0.057%

Together, before fees+0.123%+ Points / potential airdropAster: Stage 5 · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.036% cheaper against Popdex than usual: you would sell low and buy high (spread −0.094% now, against its 7-day average of −0.057%). If the spread goes back, that is −$4 on $10k: about 39 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex PONSUSDT	0.6129	0.0096	pay 0.0012% / 1h	31m 57s	$20K	$439K	20x
Short	Aster PONSUSDT	0.6123	0.0172	get 0.0086% / 4h	31m 57s	$1.1M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Popdex. 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 PopdexbpFee AsterbpOrdersPrice spread, now −0.094%Rate

Funding earned: $15.88
Price spread: −0.094% → −0.057%: −$3.65
Slippage, 4 orders: −$182.61
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Aster: 4 bp × 2 orders: −$8
Net: −$184.78
Costs to cover: 1.970%
Break-even: 88.5 days

Slippage from Popdex: live order book, 47 min ago; Aster: live order book, 1 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 Popdex live order book, 47 min ago	10.77 bp	85.9 bp −$86	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	4.65 bp	11.7 bp −$12	28.7 bp −$287	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.602%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0034%	1h	0.6115	−0.226%	$236K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6123	−0.090%	$426K	$2.6M	3x	as long as short
Popdex PONSUSDTlong	+0.0096%	1h	0.6129	long leg	$20K	$439K	20x
Nado PONS-PERP	+0.0100%	1h	0.6129	−0.007%	$88K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6122	−0.114%	$18.5M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6121	−0.131%	$14.0M	$58.1M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6125	−0.069%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6150	+0.341%	$33K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6131	+0.029%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.6127	−0.028%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6122	−0.106%	$28K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6150	+0.348%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6124	−0.082%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0116%	4h	0.6124	−0.077%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0140%	4h	0.6125	−0.060%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0160%	1h	0.6126	−0.056%	$382	—	3x	as long as short
Aster PONSUSDTshort	+0.0172%	4h	0.6123	−0.094%	$1.1M	$2.2M	20x
Lighter PONS	+0.0216%	1h	0.6126	−0.055%	$1.7M	$922K	3x	as long as short
BingX PONS-USDT	+0.0300%	4h	0.6119	−0.163%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0304%	1h	0.6124	−0.083%	$253K	$682K	5x	as long as short
Binance PONSUSDT	+0.0305%	4h	0.6125	−0.064%	$40.1M	$98.7M	20x	as long as short
MEXC PONS_USDT	+0.0308%	4h	0.6126	−0.049%	$8.1M	$4.9M	20x	as long as short
edgeX PONSUSDC	+0.0309%	4h	0.6134	+0.076%	$21K	$293K	10x	as long as short
BloFin PONS-USDT	+0.0549%	4h	0.6130	+0.016%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0669%	1h	0.6128	−0.023%	$42K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6126	−0.057%	$48K	$96K	3x	as long as short
Hyperliquid PONS	+0.0913%	1h	0.6127	−0.033%	$62.2M	$30.4M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6126	−0.051%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2262%	4h	0.6120	−0.147%	$5.4M	$6.3M	20x	as long as short