Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0113%/8h= +12.4% APRpaid last 24h +0.077%

Price spread now: Aster against gTrade (Gains Network)+0.355%7-day average +0.095% · 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−$4,589as in the Price arb table

costs, in and out, $10k−$4,61546.152% of the position

Long on gTrade (Gains Network)Short on Aster

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.077%+$8 on $10k

Price spread, last 3 days (all we have)−0.125%−$12 · spread now +0.355%, 7d avg +0.095%

Together, before fees−0.047%+ Points / potential airdropAster: Stage 5 · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Aster is 0.260% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of +0.095%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PONS/USD	0.5866	L +0.0032% / S −0.0034%	pay 0.0004% / 1h	3m 45s	$215K	—	150x
Short	Aster PONSUSDT	0.5887	0.0146	get 0.0073% / 4h	2h 03m	$1.1M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee AsterbpOrdersPrice spread, now +0.355%Rate

Funding earned: $23.78
Price spread: +0.355% → +0.095%: $25.98
Slippage, 4 orders: −$4,595.16
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$4,565.4
Costs to cover: 46.152%
Break-even: 1350.8 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 20 min ago; Aster: live order book, 5 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 gTrade (Gains Network) virtual book (oracle venue), 20 min ago	130.01 bp	2119.9 bp −$2,120	16869.1 bp −$168.7K	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	3.58 bp	10.9 bp −$11	32.0 bp −$320	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/USDlong	L +0.0032% / S −0.0034%	1h	0.5866	long leg	$215K	—	150x
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.917%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5870	+0.072%	$21K	$442K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5888	+0.379%	$17.6M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5888	+0.379%	$13.4M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5883	+0.288%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5892	+0.443%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5857	−0.146%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5874	+0.140%	$34K	$338K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5879	+0.225%	$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	0.5874	+0.140%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5879	+0.218%	$27K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5878	+0.212%	$63K	$505K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5874	+0.140%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5874	+0.145%	$366	—	3x	as long as short
Nado PONS-PERP	+0.0128%	1h	0.5871	+0.089%	$89K	$103K	5x	as long as short
Aster PONSUSDTshort	+0.0146%	4h	0.5887	+0.355%	$1.1M	$2.2M	20x
MEXC PONS_USDT	+0.0164%	4h	0.5892	+0.447%	$7.5M	$5.2M	20x	as long as short
Extended PONS-USD	+0.0168%	1h	0.5889	+0.402%	$105K	$532K	5x	as long as short
Binance PONSUSDT	+0.0169%	4h	0.5894	+0.481%	$38.3M	$98.3M	20x	as long as short
BingX PONS-USDT	+0.0170%	4h	0.5888	+0.379%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0173%	4h	0.5886	+0.352%	$21K	$292K	10x	as long as short
Polymarket Perps PONS-USD	+0.0374%	1h	0.5871	+0.082%	$37K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0404%	4h	0.5863	−0.048%	$1.7M	$960K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5892	+0.451%	$47K	$103K	3x	as long as short
Lighter RH PONS	+0.0480%	1h	0.5890	+0.411%	$417K	$2.7M	3x	as long as short
Hyperliquid PONS	+0.0526%	1h	0.5893	+0.464%	$59.1M	$30.0M	3x	as long as short
Gate PONS_USDT	+0.0704%	4h	0.5876	+0.174%	$5.1M	$6.8M	20x	as long as short
Lighter PONS	+0.0960%	1h	0.5890	+0.411%	$1.7M	$900K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5870	+0.075%	$30K	$86K	3x	as long as short