Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0021%/8h= +2.2% APRpaid last 24h −0.045%

Price spread now: Aster against Extended−0.011%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$710.714% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.465%−$46 on $10k

Price spread, last 4 days (all we have)−0.106%−$11 · spread now −0.011%, 7d avg −0.026%

Together, before fees−0.571%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board−$57 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.026%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.465%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PONS-USD	0.5901	0.0176	pay 0.0022% / 1h	20m 36s	$106K	$533K	5x
Short	Aster PONSUSDT	0.5900	0.0197	get 0.0098% / 4h	2h 20m	$1.1M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now −0.011%Rate

Funding earned: $4.31
Price spread: −0.011% → −0.026%: $1.57
Slippage, 4 orders: −$58.44
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$65.57
Costs to cover: 0.714%
Break-even: 113.6 days

Slippage from Extended: live order book, 2 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 Extended live order book, 2 min ago	9.50 bp	24.7 bp −$25	163.3 bp −$1,633	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	2.89 bp	10.5 bp −$10	32.7 bp −$327	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	0.5894	−0.105%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.323%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5902	+0.025%	$21K	$446K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5904	+0.059%	$89K	$103K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5898	−0.043%	$17.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5897	−0.060%	$13.4M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5900	−0.009%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5900	−0.007%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5909	+0.140%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5895	−0.089%	$34K	$333K	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	0.5909	+0.140%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5910	+0.157%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5901	+0.010%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5911	+0.176%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5896	−0.077%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5902	+0.025%	$368	—	3x	as long as short
Extended PONS-USDlong	+0.0176%	1h	0.5901	long leg	$106K	$533K	5x
MEXC PONS_USDT	+0.0176%	4h	0.5901	+0.008%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0178%	4h	0.5901	+0.003%	$38.4M	$98.3M	20x	as long as short
edgeX PONSUSDC	+0.0182%	4h	0.5896	−0.076%	$21K	$293K	10x	as long as short
BingX PONS-USDT	+0.0184%	4h	0.5899	−0.026%	—	$3.1M	—	as long as short
Aster PONSUSDTshort	+0.0197%	4h	0.5900	−0.011%	$1.1M	$2.2M	20x
Polymarket Perps PONS-USD	+0.0352%	1h	0.5906	+0.086%	$37K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0418%	4h	0.5909	+0.143%	$1.7M	$967K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5900	−0.008%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0490%	1h	0.5900	−0.006%	$59.0M	$30.0M	3x	as long as short
Lighter RH PONS	+0.0616%	1h	0.5902	+0.023%	$414K	$2.6M	3x	as long as short
Gate PONS_USDT	+0.0674%	4h	0.5897	−0.060%	$5.2M	$6.8M	20x	as long as short
Lighter PONS	+0.1016%	1h	0.5904	+0.062%	$1.7M	$885K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5904	+0.059%	$30K	$86K	3x	as long as short