Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0410%/8h= +44.9% APRpaid last 24h +0.070%

Price spread now: Aster against Injective+4.322%57s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Aster is 4.322% dearer against Injective than usual: you sell high and buy low: +$432 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 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	Injective PONS/USDC PERP	0.5938	0.0033	pay 0.0004% / 1h	50m 24s	$610	$10K	5.5x
Short	Aster PONSUSDT	0.6195	0.0443	get 0.0222% / 4h	3h 50m	$1.1M	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now +4.322%Rate

Funding earned: $86.12
Price spread: +4.322% → 0.000%: $432.21
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: $510.31
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Aster: live order book, 3 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 Injective no order-book sample	—	—	—	—	—
Sell Aster live order book, 3 min ago	5.31 bp	10.7 bp −$11	28.8 bp −$288	doesn't fit	doesn't fit

Injective: 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 −0.0030%	1h	0.6212	+4.599%	$243K	—	150x	as long as short
Injective PONS/USDC PERPlong	+0.0033%	1h	0.5938	long leg	$610	$10K	5.5x
Popdex PONSUSDT	+0.0096%	1h	0.6209	+4.555%	$23K	$437K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6210	+4.571%	$73K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6214	+4.639%	$31K	$294K	5x	as long as short
Polymarket Perps PONS-USD	+0.0100%	1h	0.6197	+4.345%	$72K	$2.3M	3x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6195	+4.319%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6226	+4.846%	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6219	+4.723%	$26K	$613K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6246	+5.170%	$66K	$534K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6213	+4.622%	$1.7M	$3.2M	20x	as long as short
Lighter RH PONS	+0.0184%	1h	0.6213	+4.622%	$420K	$2.7M	3x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6188	+4.201%	$386	—	3x	as long as short
Hyperliquid PONS	+0.0290%	1h	0.6207	+4.521%	$63.6M	$30.7M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0380%	4h	0.6181	+4.084%	$14.0M	$60.7M	20x	as long as short
Aster PONSUSDTshort	+0.0443%	4h	0.6195	+4.322%	$1.1M	$2.3M	20x
KuCoin PONSUSDTM	+0.0484%	4h	0.6203	+4.454%	$1.6M	$4.0M	20x	as long as short
Variational Omni PONS	+0.0532%	4h	0.6223	+4.790%	$1.6M	$4.3M	—	as long as short
edgeX PONSUSDC	+0.0621%	4h	0.6216	+4.667%	$20K	$291K	10x	as long as short
MEXC PONS_USDT	+0.0622%	4h	0.6207	+4.521%	$7.9M	$4.6M	20x	as long as short
Binance PONSUSDT	+0.0622%	4h	0.6196	+4.339%	$40.6M	$104.4M	20x	as long as short
Extended PONS-USD	+0.0624%	1h	0.6209	+4.558%	$104K	$825K	5x	as long as short
Bitget PONSUSDT	+0.0690%	4h	0.6210	+4.563%	$4.9M	$13.1M	20x	as long as short
Pacifica PONS	+0.0853%	1h	0.6210	+4.572%	$47K	$77K	3x	as long as short
BloFin PONS-USDT	+0.0862%	4h	0.6222	+4.774%	$1.8M	$1.1M	20x	as long as short
Lighter PONS	+0.1040%	1h	0.6214	+4.646%	$1.7M	$867K	3x	as long as short
BingX PONS-USDT	+0.1230%	4h	0.6186	+4.168%	—	$3.3M	—	as long as short
Gate PONS_USDT	+0.1430%	4h	0.6188	+4.201%	$5.4M	$6.3M	20x	as long as short
Bybit PONSUSDT	+0.1463%	4h	0.6187	+4.185%	$18.6M	$33.1M	20x	as long as short
Phoenix PONS	+0.1714%	1h	0.6216	+4.666%	$47K	$159K	3x	as long as short