Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0314%/8h= −34.4% APRpaid last 24h −0.060%

Price spread now: SoDEX against Aster−0.116%46s7-day average +0.044% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1501.502% of the position

Long on Aster Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.135%−$14 on $10k

Price spread, last 4 days (all we have)+0.417%+$42 · spread now −0.116%, 7d avg +0.044%

Together, before fees+0.282%+ Points / potential airdropAster: Stage 5 · farm board+$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and SoDEX is 0.160% cheaper against Aster than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.044%). Swap the legs. The two prices were read 46 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	Aster PONSUSDT	0.6326	0.0414	pay 0.0207% / 4h	47m 31s	$1.2M	$2.1M	20x
Short	SoDEX PONS-USD	0.6319	0.0100	get 0.0013% / 1h	47m 31s	$27K	$595K	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 −0.116%Rate

Funding earned: −$65.93
Price spread: −0.116% → +0.044%: −$16
Slippage, 4 orders: −$134.21
Fee Aster: 4 bp × 2 orders: −$8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$232.14
Costs to cover: 1.502%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; SoDEX: live order book, 59 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, 4 min ago	3.40 bp	11.7 bp −$12	24.6 bp −$246	doesn't fit	doesn't fit
Sell SoDEX live order book, 59 min ago	0.79 bp	65.9 bp −$66	doesn't fit	doesn't fit	doesn't fit

PONS on 30 exchanges

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 +0.0031% / S −0.0029%	1h	0.6306	−0.317%	$248K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−6.124%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6331	+0.081%	$22K	$396K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6324	−0.030%	$77K	$92K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6313	−0.208%	$31K	$286K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6318	−0.129%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6323	−0.047%	—	$826K	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6319	−0.116%	$27K	$595K	3x
HTX PONS-USDT	+0.0100%	4h	0.6302	−0.382%	$65K	$549K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6319	−0.109%	$1.7M	$3.2M	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0216%	1h	0.6237	−1.405%	$389	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0261%	4h	0.6328	+0.034%	$14.0M	$59.4M	20x	as long as short
Aster PONSUSDTlong	+0.0414%	4h	0.6326	long leg	$1.2M	$2.1M	20x
Hyperliquid PONS	+0.0439%	1h	0.6319	−0.113%	$64.6M	$29.4M	3x	as long as short
Lighter RH PONS	+0.0448%	1h	0.6321	−0.085%	$459K	$2.6M	3x	as long as short
Pacifica PONS	+0.0517%	1h	0.6322	−0.065%	$46K	$73K	3x	as long as short
KuCoin PONSUSDTM	+0.0524%	4h	0.6322	−0.056%	$1.8M	$4.3M	20x	as long as short
MEXC PONS_USDT	+0.0542%	4h	0.6323	−0.045%	$7.7M	$4.5M	20x	as long as short
Extended PONS-USD	+0.0544%	1h	0.6327	+0.012%	$182K	$849K	5x	as long as short
Binance PONSUSDT	+0.0551%	4h	0.6332	+0.097%	$40.8M	$98.2M	20x	as long as short
edgeX PONSUSDC	+0.0567%	4h	0.6300	−0.406%	$18K	$296K	10x	as long as short
Variational Omni PONS	+0.0573%	4h	0.6319	−0.111%	$1.5M	$3.8M	—	as long as short
Gate PONS_USDT	+0.0594%	4h	0.6314	−0.188%	$5.4M	$6.5M	20x	as long as short
Polymarket Perps PONS-USD	+0.0606%	1h	0.6317	−0.137%	$103K	$2.0M	3x	as long as short
Bitget PONSUSDT	+0.0682%	4h	0.6327	+0.015%	$5.0M	$13.1M	20x	as long as short
BingX PONS-USDT	+0.0700%	4h	0.6320	−0.093%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0756%	4h	0.6332	+0.097%	$19.0M	$31.4M	20x	as long as short
BloFin PONS-USDT	+0.0790%	4h	0.6295	−0.488%	$1.8M	$1.1M	20x	as long as short
Lighter PONS	+0.0816%	1h	0.6323	−0.047%	$1.8M	$848K	3x	as long as short
Phoenix PONS	+0.1439%	1h	0.6328	+0.027%	$48K	$153K	3x	as long as short