Funding you earn now, next payment 09:00 UTC−0.0784%/8h= −85.9% APRpaid last 24h −0.139%
Price spread now: Bybit against Backpack+0.007%7-day average −0.051% · you sell dearer than you buy
Net, funding: paid 7d − costs−$73as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$390.394% of the position
Funding, last 7 days−0.341%−$34 on $10k
+Price spread, last 4 days (all we have)+0.085%+$9 · spread now +0.007%, 7d avg −0.051%
=The price spread pays, funding is against you. Bybit is 0.058% dearer against Backpack than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.051%): +$6 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.341% 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 -0.341% in total (about -17.8% 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 | 0.7116 | 0.0884 | pay 0.0111% / 1h | 5m 07s | $102K | $247K | 15x |
| Short | Bybit AEROUSDT | 0.7116 | 0.0100 | get 0.0050% / 4h | 3h 05m | $23.8M | $19.1M | 25x |
Backpack AERO_USDC_PERP
Bybit AEROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$164.73
- Price spread: +0.007% → −0.051%
- $5.82
- Slippage, 4 orders
- −$18.36
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$198.27
- Costs to cover
- 0.394%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 28 min ago; Bybit: live order book, 4 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, 28 min ago | 0.07 bp | 5.6 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 2.10 bp | 12.6 bp −$13 | 33.0 bp −$330 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International AERO-PERP-INTX | −0.0280% | 1h | 0.7597 | +6.767% | $96K | $43K | 25x | as long as short |
| Injective AERO/USDC PERP | +0.0033% | 1h | 0.6902 | −3.000% | $4 | $209K | 5.5x | as long as short |
| Aster AEROUSDT | +0.0100% | 4h | 0.7119 | +0.053% | $43K | $126K | 10x | as long as short |
| Binance AEROUSDT | +0.0100% | 4h | 0.7115 | −0.001% | $27.0M | $25.8M | 75x | as long as short |
| Bybit AEROUSDTshort | +0.0100% | 4h | 0.7116 | +0.007% | $23.8M | $19.1M | 25x | |
| OKX AERO-USDT-SWAP | +0.0100% | 4h | 0.7125 | +0.134% | $2.4M | $5.7M | 20x | as long as short |
| Gate AERO_USDT | +0.0100% | 4h | 0.7110 | −0.077% | $1.7M | $506K | 75x | as long as short |
| MEXC AERO_USDT | +0.0100% | 4h | 0.7112 | −0.049% | $8.6M | $1.5M | 100x | as long as short |
| KuCoin AEROUSDTM | +0.0100% | 4h | 0.7116 | +0.007% | $2.0M | $1.2M | 50x | as long as short |
| Bitget AEROUSDT | +0.0100% | 4h | 0.7114 | −0.021% | $4.2M | $1.9M | 75x | as long as short |
Coinbase International AERO-PERP-INTX
Injective AERO/USDC PERP
Aster AEROUSDT
Binance AEROUSDT
OKX AERO-USDT-SWAP
Gate AERO_USDT
MEXC AERO_USDT
KuCoin AEROUSDTM
Bitget AEROUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX AERO-USDT | +0.0100% | 4h | 0.7116 | +0.007% | — | $1.8M | — | as long as short |
| Variational Omni AERO | +0.0100% | 4h | 0.7126 | +0.152% | $2.0M | $1.1M | — | as long as short |
| Extended AERO-USD | +0.0104% | 1h | 0.7118 | +0.029% | $215K | $1.4M | 10x | as long as short |
| Aevo AERO-PERP | +0.0104% | 1h | 0.7107 | −0.126% | $48K | — | 3x | as long as short |
| Reya AERORUSDPERP | +0.0228% | 1h | 0.7112 | −0.055% | $20K | $4K | 15x | as long as short |
| Deribit AERO_USDC-PERPETUAL | +0.0313% | 1h | 0.7108 | −0.105% | $56K | $684 | 10x | as long as short |
| BloFin AERO-USDT | +0.0340% | 4h | 0.7117 | +0.021% | $973K | $579K | 25x | as long as short |
| RISEx AERO/USDC | +0.0503% | 1h | 0.7115 | −0.014% | $238K | $602K | 3x | as long as short |
| GMX AERO/USD [ETH-USDC] | L +0.0522% / S −0.0251% | 1h | 0.7123 | +0.110% | $92K | — | 100x | as long as short |
| 01 Exchange AEROUSD | +0.0880% | 1h | 0.7141 | +0.364% | $194 | $101 | 3x | as long as short |
| Backpack AERO_USDC_PERPlong | +0.0884% | 1h | 0.7116 | long leg | $102K | $247K | 15x | |
| Hyperliquid AERO | +0.1239% | 1h | 0.7129 | +0.184% | $23.5M | $6.1M | 3x | as long as short |
| Lighter AERO | +0.1672% | 1h | 0.7134 | +0.254% | $1.3M | $410K | 3x | as long as short |
BingX AERO-USDT
Variational Omni AERO
Extended AERO-USD
Aevo AERO-PERP
Reya AERORUSDPERP
Deribit AERO_USDC-PERPETUAL
BloFin AERO-USDT
RISEx AERO/USDC
GMX AERO/USD [ETH-USDC]
01 Exchange AEROUSD
Hyperliquid AERO
Lighter AERO