Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0295%/8h= +32.3% APRpaid last 24h +0.062%

Price spread now: Aster against Popdex+0.039%52s7-day average −0.051% · 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—prices read too far apart to compare

costs, in and out, $10k−$2182.178% of the position

Long on Popdex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.160%+$16 on $10k

Price spread, last 4 days (all we have)−0.133%−$13 · spread now +0.039%, 7d avg −0.051%

Together, before fees+0.027%+ Points / potential airdropAster: Stage 5 · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Aster is 0.089% dearer against Popdex than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.051%. The two prices were read 52 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	Popdex PONSUSDT	0.6443	0.0096	pay 0.0012% / 1h	9m 42s	$21K	$413K	20x
Short	Aster PONSUSDT	0.6445	0.0391	get 0.0196% / 4h	9m 42s	$1.2M	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Popdex. 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 PopdexbpFee AsterbpOrdersPrice spread, now +0.039%Rate

Funding earned: $61.98
Price spread: +0.039% → −0.051%: $8.93
Slippage, 4 orders: −$203.4
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Aster: 4 bp × 2 orders: −$8
Net: −$146.88
Costs to cover: 2.178%
Break-even: 23.6 days

Slippage from Popdex: live order book, 32 min ago; Aster: live order book, 2 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 Popdex live order book, 32 min ago	12.10 bp	90.5 bp −$90	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	5.20 bp	11.5 bp −$12	35.7 bp −$357	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	0.6429	−0.221%	$253K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−7.830%	$610	$10K	5.5x	as long as short
Popdex PONSUSDTlong	+0.0096%	1h	0.6443	long leg	$21K	$413K	20x
Nado PONS-PERP	+0.0100%	1h	0.6431	−0.186%	$75K	$94K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6412	−0.476%	$32K	$284K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6446	+0.043%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6437	−0.087%	—	$807K	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6440	−0.054%	$27K	$596K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6428	−0.237%	$67K	$556K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6440	−0.047%	$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	+0.0224%	1h	0.6430	−0.199%	$401	—	3x	as long as short
Hyperliquid PONS	+0.0256%	1h	0.6445	+0.031%	$65.7M	$29.3M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0290%	4h	0.6432	−0.171%	$14.2M	$60.6M	20x	as long as short
Aster PONSUSDTshort	+0.0391%	4h	0.6445	+0.039%	$1.2M	$2.1M	20x
Pacifica PONS	+0.0517%	1h	0.6444	+0.012%	$47K	$70K	3x	as long as short
KuCoin PONSUSDTM	+0.0546%	4h	0.6449	+0.093%	$1.8M	$4.3M	20x	as long as short
Extended PONS-USD	+0.0560%	1h	0.6446	+0.043%	$185K	$821K	5x	as long as short
MEXC PONS_USDT	+0.0560%	4h	0.6438	−0.078%	$7.9M	$4.6M	20x	as long as short
Variational Omni PONS	+0.0564%	4h	0.6434	−0.136%	$1.5M	$3.7M	—	as long as short
Binance PONSUSDT	+0.0567%	4h	0.6436	−0.109%	$41.6M	$98.6M	20x	as long as short
Lighter RH PONS	+0.0568%	1h	0.6446	+0.047%	$449K	$2.6M	3x	as long as short
edgeX PONSUSDC	+0.0568%	4h	0.6432	−0.175%	$18K	$294K	10x	as long as short
Bitget PONSUSDT	+0.0662%	4h	0.6449	+0.099%	$5.2M	$13.1M	20x	as long as short
BingX PONS-USDT	+0.0702%	4h	0.6434	−0.140%	—	$3.1M	—	as long as short
Polymarket Perps PONS-USD	+0.0745%	1h	0.6443	0.000%	$73K	$2.1M	3x	as long as short
Bybit PONSUSDT	+0.0762%	4h	0.6432	−0.171%	$19.4M	$31.4M	20x	as long as short
BloFin PONS-USDT	+0.0808%	4h	0.6444	+0.016%	$1.9M	$1.1M	20x	as long as short
Lighter PONS	+0.0840%	1h	0.6448	+0.076%	$1.8M	$850K	3x	as long as short
Phoenix PONS	+0.1439%	1h	0.6441	−0.039%	$49K	$153K	3x	as long as short
Gate PONS_USDT	+0.1496%	4h	0.6437	−0.093%	$5.5M	$6.6M	20x	as long as short