Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.055%

Price spread now: SoDEX against Aster+0.027%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1571.565% of the position

Long on Aster Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.101%−$10 on $10k

Price spread, last 3 days (all we have)+0.250%+$25 · spread now +0.027%, 7d avg +0.052%

Together, before fees+0.150%+ Points / potential airdropAster: Stage 5 · farm board+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SoDEX is 0.025% cheaper against Aster than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.052%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PONSUSDT	0.5899	0.0153	pay 0.0076% / 4h	2h 00m	$1.1M	$2.2M	20x
Short	SoDEX PONS-USD	0.5901	0.0100	get 0.0013% / 1h	0m 12s	$27K	$547K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Aster. 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 AsterbpFee SoDEXbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$11.12
Price spread: +0.027% → +0.052%: −$2.48
Slippage, 4 orders: −$140.51
Fee Aster: 4 bp × 2 orders: −$8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$170.11
Costs to cover: 1.565%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; SoDEX: live order book, 23 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 Aster live order book, 3 min ago	3.57 bp	9.0 bp −$9	29.8 bp −$298	doesn't fit	doesn't fit
Sell SoDEX live order book, 23 min ago	1.02 bp	73.0 bp −$73	doesn't fit	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	0.5897	−0.038%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.342%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5904	+0.078%	$21K	$442K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5897	−0.041%	$17.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5897	−0.041%	$13.4M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5894	−0.097%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5900	+0.017%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5901	+0.031%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5865	−0.589%	$34K	$339K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5913	+0.229%	$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	0.5907	+0.120%	—	$1.4M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.5901	+0.027%	$27K	$547K	3x
HTX PONS-USDT	+0.0100%	4h	0.5901	+0.032%	$63K	$505K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5899	−0.007%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5905	+0.095%	$368	—	3x	as long as short
Nado PONS-PERP	+0.0142%	1h	0.5907	+0.129%	$89K	$103K	5x	as long as short
Aster PONSUSDTlong	+0.0153%	4h	0.5899	long leg	$1.1M	$2.2M	20x
BingX PONS-USDT	+0.0168%	4h	0.5895	−0.075%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0170%	4h	0.5903	+0.061%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0173%	4h	0.5901	+0.029%	$38.3M	$98.2M	20x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5905	+0.096%	$106K	$532K	5x	as long as short
edgeX PONSUSDC	+0.0179%	4h	0.5890	−0.167%	$21K	$294K	10x	as long as short
Polymarket Perps PONS-USD	+0.0387%	1h	0.5904	+0.074%	$37K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0411%	4h	0.5904	+0.078%	$1.7M	$967K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5906	+0.116%	$47K	$103K	3x	as long as short
Lighter RH PONS	+0.0504%	1h	0.5904	+0.078%	$418K	$2.7M	3x	as long as short
Hyperliquid PONS	+0.0535%	1h	0.5904	+0.073%	$59.3M	$30.1M	3x	as long as short
Gate PONS_USDT	+0.0800%	4h	0.5894	−0.092%	$5.1M	$6.8M	20x	as long as short
Lighter PONS	+0.0984%	1h	0.5906	+0.103%	$1.7M	$900K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5888	−0.194%	$30K	$86K	3x	as long as short