Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0181%/8h= −19.8% APRpaid last 24h −0.020%

Price spread now: Aevo against Aster−0.025%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 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 against this trade now: funding costs −$5 a day on $10k at the current rate, and Aevo is 0.025% cheaper against Aster than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PONSUSDT	0.6028	0.0365	pay 0.0182% / 4h	2h 25m	$1.1M	$2.0M	20x
Short	Aevo PONS-PERP	0.6027	0.0184	get 0.0023% / 1h	25m 46s	$375	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo 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 AevobpOrdersPrice spread, now −0.025%Rate

Funding earned: −$37.98
Price spread: −0.025% → 0.000%: −$2.53
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$64.51
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 3 min ago; Aevo: no order-book sample. 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 Aster live order book, 3 min ago	2.82 bp	8.9 bp −$9	31.1 bp −$311	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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 29 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 +0.0033% / S −0.0033%	1h	0.6020	−0.140%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.973%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6029	+0.014%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6026	−0.044%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6017	−0.178%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6030	+0.039%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6030	+0.026%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6030	+0.029%	$26K	$518K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6034	+0.102%	$64K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6031	+0.047%	$1.7M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0160%	1h	0.6027	−0.019%	$425K	$2.5M	3x	as long as short
Aevo PONS-PERPshort	+0.0184%	1h	0.6027	−0.025%	$375	—	3x
KuCoin PONSUSDTM	+0.0216%	4h	0.6032	+0.066%	$1.7M	$3.7M	20x	as long as short
Nado PONS-PERP	+0.0227%	1h	0.6025	−0.052%	$71K	$131K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0234%	4h	0.6025	−0.052%	$13.8M	$54.9M	20x	as long as short
Bybit PONSUSDT	+0.0242%	4h	0.6025	−0.052%	$18.1M	$30.5M	20x	as long as short
Lighter PONS	+0.0248%	1h	0.6027	−0.019%	$1.7M	$884K	3x	as long as short
Bitget PONSUSDT	+0.0304%	4h	0.6034	+0.104%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDTlong	+0.0365%	4h	0.6028	long leg	$1.1M	$2.0M	20x
BingX PONS-USDT	+0.0388%	4h	0.6030	+0.031%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0400%	1h	0.6033	+0.086%	$249K	$672K	5x	as long as short
Binance PONSUSDT	+0.0403%	4h	0.6031	+0.047%	$39.5M	$94.8M	20x	as long as short
MEXC PONS_USDT	+0.0404%	4h	0.6033	+0.080%	$7.7M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0409%	4h	0.6021	−0.126%	$21K	$291K	10x	as long as short
Gate PONS_USDT	+0.0464%	4h	0.6027	−0.019%	$5.3M	$6.1M	20x	as long as short
Hyperliquid PONS	+0.0683%	1h	0.6028	−0.002%	$61.3M	$28.2M	3x	as long as short
Polymarket Perps PONS-USD	+0.0736%	1h	0.6029	+0.009%	$45K	$1.5M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6022	−0.096%	$47K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6041	+0.208%	$31K	$107K	3x	as long as short