Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.055%

Price spread now: Aster against ApeX Omni−0.580%69s7-day average −0.162% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1021.019% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 3 days (all we have)+0.445%+$45 · spread now −0.580%, 7d avg −0.162%

Together, before fees+0.565%+ Points / potential airdropAster: Stage 5 · farm board+$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.418% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.580% now, against its 7-day average of −0.162%). If the spread goes back, that is −$42 on $10k: about 21 days of funding at the current rate (+$2 a day). The two prices were read 69 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PONSUSDT	0.5909	0.0100	pay 0.0013% / 1h	12m 21s	$34K	$336K	5x
Short	Aster PONSUSDT	0.5875	0.0168	get 0.0084% / 4h	2h 12m	$1.1M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX Omni. 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now −0.580%Rate

Funding earned: $14.21
Price spread: −0.580% → −0.162%: −$41.77
Slippage, 4 orders: −$83.94
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$129.5
Costs to cover: 1.019%
Break-even: 70.8 days

Slippage from ApeX Omni: live order book, 10 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 ApeX Omni live order book, 10 min ago	32.60 bp	40.5 bp −$40	115.9 bp −$1,159	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	3.23 bp	10.6 bp −$11	37.5 bp −$375	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	0.5872	−0.620%	$215K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.178%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5875	−0.577%	$21K	$443K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5870	−0.662%	$17.5M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5873	−0.611%	$13.4M	$55.9M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5876	−0.555%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5877	−0.535%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5905	−0.065%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDTlong	+0.0100%	1h	0.5909	long leg	$34K	$336K	5x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5883	−0.442%	$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	0.5900	−0.149%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5879	−0.514%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5899	−0.176%	$63K	$505K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5875	−0.577%	$1.6M	$3.3M	20x	as long as short
Nado PONS-PERP	+0.0103%	1h	0.5874	−0.587%	$89K	$103K	5x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5877	−0.535%	$366	—	3x	as long as short
Aster PONSUSDTshort	+0.0168%	4h	0.5875	−0.580%	$1.1M	$2.2M	20x
Binance PONSUSDT	+0.0177%	4h	0.5876	−0.560%	$38.2M	$98.3M	20x	as long as short
BingX PONS-USDT	+0.0180%	4h	0.5873	−0.611%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0180%	4h	0.5876	−0.560%	$7.5M	$5.2M	20x	as long as short
Extended PONS-USD	+0.0184%	1h	0.5875	−0.578%	$105K	$533K	5x	as long as short
edgeX PONSUSDC	+0.0194%	4h	0.5909	−0.008%	$21K	$294K	10x	as long as short
Polymarket Perps PONS-USD	+0.0358%	1h	0.5875	−0.580%	$37K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0422%	4h	0.5890	−0.323%	$1.7M	$964K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5876	−0.559%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0488%	1h	0.5878	−0.526%	$58.9M	$30.1M	3x	as long as short
Lighter RH PONS	+0.0536%	1h	0.5878	−0.530%	$413K	$2.6M	3x	as long as short
Gate PONS_USDT	+0.0760%	4h	0.5870	−0.662%	$5.1M	$6.8M	20x	as long as short
Lighter PONS	+0.0992%	1h	0.5881	−0.479%	$1.7M	$889K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5911	+0.025%	$30K	$86K	3x	as long as short