Funding you earn now, next payment 00:00 UTC−0.0971%/8h= −106.3% APRpaid last 24h −0.067%
Price spread now: Binance against Backpack+0.019%7-day average −0.024% · you sell dearer than you buy
Net, funding: paid 7d − costs−$66as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$410.408% of the position
Funding, last 7 days−0.251%−$25 on $10k
+Price spread, last 4 days (all we have)+0.013%+$1 · spread now +0.019%, 7d avg −0.024%
=The price spread pays, funding is against you. Binance is 0.043% dearer against Backpack than usual: you sell high and buy low (spread +0.019% now, against its 7-day average of −0.024%): +$4 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.251% in total) that is about 29 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.251% in total (about -13.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack AERO_USDC_PERP | 0.7057 | 0.1071 | pay 0.0134% / 1h | 34m 24s | $105K | $316K | 15x |
| Short | Binance AEROUSDT | 0.7059 | 0.0100 | get 0.0050% / 4h | 34m 24s | $26.6M | $26.4M | 75x |
Backpack AERO_USDC_PERP
Binance AEROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$203.95
- Price spread: +0.019% → −0.024%
- $4.27
- Slippage, 4 orders
- −$20.79
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$240.48
- Costs to cover
- 0.408%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 44 min ago; Binance: live order book, 7 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 Backpack live order book, 44 min ago | 0.36 bp | 5.8 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 7 min ago | 0.71 bp | 16.0 bp −$16 | 40.0 bp −$400 | 206.3 bp −$20.6K | doesn't fit |
AERO on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective AERO/USDC PERP | +0.0033% | 1h | 0.6902 | −2.199% | $4 | $209K | 5.5x | as long as short |
| Aster AEROUSDT | +0.0100% | 4h | 0.7061 | +0.061% | $41K | $112K | 10x | as long as short |
| Binance AEROUSDTshort | +0.0100% | 4h | 0.7059 | +0.019% | $26.6M | $26.4M | 75x | |
| Bybit AEROUSDT | +0.0100% | 4h | 0.7054 | −0.045% | $22.9M | $21.7M | 25x | as long as short |
| OKX AERO-USDT-SWAP | +0.0100% | 4h | 0.7058 | +0.011% | $2.3M | $7.1M | 20x | as long as short |
| Gate AERO_USDT | +0.0100% | 4h | 0.7054 | −0.045% | $1.6M | $535K | 75x | as long as short |
| MEXC AERO_USDT | +0.0100% | 4h | 0.7058 | +0.011% | $8.4M | $1.7M | 100x | as long as short |
| KuCoin AEROUSDTM | +0.0100% | 4h | 0.7058 | +0.011% | $2.2M | $934K | 50x | as long as short |
| Bitget AEROUSDT | +0.0100% | 4h | 0.7057 | −0.003% | $4.1M | $2.2M | 75x | as long as short |
| BingX AERO-USDT | +0.0100% | 4h | 0.7056 | −0.017% | — | $1.8M | — | as long as short |
Injective AERO/USDC PERP
Aster AEROUSDT
Bybit AEROUSDT
OKX AERO-USDT-SWAP
Gate AERO_USDT
MEXC AERO_USDT
KuCoin AEROUSDTM
Bitget AEROUSDT
BingX AERO-USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni AERO | +0.0100% | 4h | 0.7044 | −0.184% | $2.1M | $1.8M | — | as long as short |
| Extended AERO-USD | +0.0104% | 1h | 0.7055 | −0.034% | $218K | $1.3M | 10x | as long as short |
| Aevo AERO-PERP | +0.0104% | 1h | 0.7056 | −0.024% | $47K | — | 3x | as long as short |
| Deribit AERO_USDC-PERPETUAL | +0.0175% | 1h | 0.7058 | +0.011% | $56K | $11K | 10x | as long as short |
| Reya AERORUSDPERP | +0.0228% | 1h | 0.7054 | −0.038% | $20K | $4K | 15x | as long as short |
| BloFin AERO-USDT | +0.0340% | 4h | 0.7034 | −0.329% | $940K | $717K | 25x | as long as short |
| GMX AERO/USD [ETH-USDC] | L +0.0514% / S −0.0250% | 1h | 0.7052 | −0.071% | $91K | — | 100x | as long as short |
| Coinbase International AERO-PERP-INTX | +0.0520% | 1h | 0.7517 | +6.515% | $100K | $35K | 25x | as long as short |
| RISEx AERO/USDC | +0.0563% | 1h | 0.7061 | +0.053% | $239K | $392K | 3x | as long as short |
| Hyperliquid AERO | +0.0649% | 1h | 0.7067 | +0.139% | $23.8M | $5.4M | 3x | as long as short |
| 01 Exchange AEROUSD | +0.0728% | 1h | 0.7066 | +0.119% | $191 | $111 | 3x | as long as short |
| Backpack AERO_USDC_PERPlong | +0.1071% | 1h | 0.7057 | long leg | $105K | $316K | 15x | |
| Lighter AERO | +0.1960% | 1h | 0.7064 | +0.089% | $1.3M | $461K | 3x | as long as short |
Variational Omni AERO
Extended AERO-USD
Aevo AERO-PERP
Deribit AERO_USDC-PERPETUAL
Reya AERORUSDPERP
BloFin AERO-USDT
GMX AERO/USD [ETH-USDC]
Coinbase International AERO-PERP-INTX
RISEx AERO/USDC
Hyperliquid AERO
01 Exchange AEROUSD
Lighter AERO