Funding arb · Price arb /

AERO

all AERO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0417%/8h= −45.7% APRpaid last 24h −0.062%

Price spread now: Gate against Backpack−0.168%7-day average −0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$680.680% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.263%−$26 on $10k

Price spread, last 4 days (all we have)+0.095%+$10 · spread now −0.168%, 7d avg −0.072%

Together, before fees−0.168%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Gate is 0.096% cheaper against Backpack than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.072%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.263% in total (about -13.7% 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	0.6887	0.0517	pay 0.0065% / 1h	49m 59s	$102K	$314K	15x
Short	Gate AERO_USDT	0.6875	0.0100	get 0.0050% / 4h	1h 49m	$1.6M	$522K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Backpack. 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 BackpackbpFee GatebpOrdersPrice spread, now −0.168%Rate

Funding earned: −$87.59
Price spread: −0.168% → −0.072%: −$9.64
Slippage, 4 orders: −$43.02
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$165.25
Costs to cover: 0.680%
Break-even: never at this rate

Slippage from Backpack: live order book, 33 min ago; Gate: 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 Backpack live order book, 33 min ago	0.07 bp	6.5 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	5.09 bp	22.6 bp −$23	224.7 bp −$2,247	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
Deribit AERO_USDC-PERPETUAL	−0.0331%	1h	0.6878	−0.125%	$55K	$11K	10x	as long as short
Hyperliquid AERO	+0.0100%	1h	0.6885	−0.025%	$23.1M	$5.7M	3x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6883	−0.048%	$39K	$109K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6880	−0.096%	$25.5M	$25.6M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.6880	−0.096%	$21.9M	$20.6M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6887	+0.006%	$2.3M	$6.8M	20x	as long as short
Gate AERO_USDTshort	+0.0100%	4h	0.6875	−0.168%	$1.6M	$522K	75x
MEXC AERO_USDT	+0.0100%	4h	0.6880	−0.096%	$8.1M	$1.6M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.6883	−0.052%	$2.1M	$873K	50x	as long as short
Bitget AEROUSDT	+0.0100%	4h	0.6878	−0.125%	$4.1M	$2.2M	75x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AERO-USDT	+0.0100%	4h	0.6882	−0.067%	—	$1.8M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6883	−0.046%	$1.9M	$1.7M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6878	−0.118%	$202K	$1.3M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6883	−0.058%	$46K	—	3x	as long as short
Injective AERO/USDC PERP	+0.0175%	1h	0.6902	+0.224%	$4	$209K	5.5x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.6883	−0.052%	$19K	$4K	15x	as long as short
01 Exchange AEROUSD	+0.0240%	1h	0.6888	+0.022%	$187	$115	3x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6885	−0.023%	$911K	$693K	25x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0502% / S −0.0223%	1h	0.6881	−0.084%	$92K	—	100x	as long as short
Backpack AERO_USDC_PERPlong	+0.0517%	1h	0.6887	long leg	$102K	$314K	15x
RISEx AERO/USDC	+0.0676%	1h	0.6888	+0.016%	$213K	$379K	3x	as long as short
Coinbase International AERO-PERP-INTX	+0.0736%	1h	0.6911	+0.354%	$92K	$32K	25x	as long as short
Lighter AERO	+0.0912%	1h	0.6897	+0.154%	$1.3M	$464K	3x	as long as short