Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0071%/8h= +7.8% APRpaid last 24h +0.028%

Price spread now: Aster against Aevo−0.067%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 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 0.067% cheaper against Aevo than usual: you would sell low and buy high (spread −0.067% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 3.1 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PONS-PERP	0.5902	0.0128	pay 0.0016% / 1h	21m 58s	$368	—	3x
Short	Aster PONSUSDT	0.5898	0.0199	get 0.0100% / 4h	2h 21m	$1.1M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aevo. 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 AevobpFee AsterbpOrdersPrice spread, now −0.067%Rate

Funding earned: $14.97
Price spread: −0.067% → 0.000%: −$6.68
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Aster: 4 bp × 2 orders: −$8
Net: −$15.71
Costs to cover: 0.240%
Break-even: 14.3 days

Slippage unknown: Aevo: no order-book sample; Aster: live order book, 1 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 Aevo no order-book sample	—	—	—	—	—
Sell Aster live order book, 1 min ago	2.89 bp	10.5 bp −$10	32.7 bp −$327	doesn't fit	doesn't fit

Aevo: 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	0.5896	−0.091%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.304%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5905	+0.057%	$21K	$446K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5904	+0.041%	$89K	$103K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5903	+0.023%	$17.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5901	−0.011%	$13.4M	$56.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5903	+0.023%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5911	+0.151%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5909	+0.121%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5907	+0.085%	$34K	$332K	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	0.5907	+0.097%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5907	+0.097%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5905	+0.048%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5905	+0.062%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5899	−0.045%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERPlong	+0.0128%	1h	0.5902	long leg	$368	—	3x
Extended PONS-USD	+0.0176%	1h	0.5904	+0.043%	$106K	$533K	5x	as long as short
Binance PONSUSDT	+0.0178%	4h	0.5908	+0.107%	$38.4M	$98.3M	20x	as long as short
MEXC PONS_USDT	+0.0180%	4h	0.5906	+0.074%	$7.5M	$5.2M	20x	as long as short
BingX PONS-USDT	+0.0184%	4h	0.5903	+0.023%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0199%	4h	0.5907	+0.099%	$21K	$292K	10x	as long as short
Aster PONSUSDTshort	+0.0199%	4h	0.5898	−0.067%	$1.1M	$2.2M	20x
Polymarket Perps PONS-USD	+0.0351%	1h	0.5906	+0.077%	$37K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0421%	4h	0.5901	−0.011%	$1.7M	$965K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5899	−0.046%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0496%	1h	0.5908	+0.108%	$59.1M	$30.0M	3x	as long as short
Lighter RH PONS	+0.0632%	1h	0.5906	+0.070%	$415K	$2.6M	3x	as long as short
Gate PONS_USDT	+0.0634%	4h	0.5901	−0.011%	$5.2M	$6.8M	20x	as long as short
Lighter PONS	+0.1032%	1h	0.5907	+0.097%	$1.7M	$883K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5904	+0.040%	$28K	$86K	3x	as long as short