Funding arb · Price arb /

AERO

all AERO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0962%/8h= −105.3% APRpaid last 24h −0.096%

Price spread now: KuCoin against Backpack−0.117%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$990.994% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.324%−$32 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.117%, 7d avg −0.026%

Together, before fees−0.302%−$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and KuCoin is 0.092% cheaper against Backpack than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.026%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.324% in total (about -16.9% 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	0.6902	0.1062	pay 0.0133% / 1h	40m 59s	$113K	$295K	15x
Short	KuCoin AEROUSDTM	0.6894	0.0100	get 0.0050% / 4h	1h 40m	$2.1M	$938K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.117%Rate

Funding earned: −$201.98
Price spread: −0.117% → −0.026%: −$9.16
Slippage, 4 orders: −$77.42
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$310.57
Costs to cover: 0.994%
Break-even: never at this rate

Slippage from Backpack: live order book, 22 min ago; KuCoin: live order book, 5 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, 22 min ago	0.07 bp	6.2 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	8.72 bp	27.8 bp −$28	273.3 bp −$2,733	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
Injective AERO/USDC PERP	+0.0033%	1h	0.6902	−0.001%	$4	$209K	5.5x	as long as short
Deribit AERO_USDC-PERPETUAL	+0.0040%	1h	0.6891	−0.161%	$55K	$11K	10x	as long as short
Hyperliquid AERO	+0.0100%	1h	0.6898	−0.057%	$23.1M	$5.2M	3x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6893	−0.129%	$39K	$117K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6896	−0.083%	$26.1M	$25.2M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.6895	−0.103%	$22.4M	$18.9M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6902	−0.001%	$2.3M	$6.6M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6892	−0.146%	$1.6M	$481K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.6893	−0.132%	$8.2M	$1.6M	100x	as long as short
KuCoin AEROUSDTMshort	+0.0100%	4h	0.6894	−0.117%	$2.1M	$938K	50x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AEROUSDT	+0.0100%	4h	0.6895	−0.103%	$4.1M	$1.9M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.6894	−0.117%	—	$1.7M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6891	−0.159%	$2.0M	$1.3M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6890	−0.173%	$206K	$2.0M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6890	−0.181%	$46K	—	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.6893	−0.138%	$19K	$4K	15x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6899	−0.045%	$943K	$633K	25x	as long as short
01 Exchange AEROUSD	+0.0408%	1h	0.6892	−0.141%	$187	$101	3x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0506% / S −0.0237%	1h	0.6890	−0.178%	$90K	—	100x	as long as short
RISEx AERO/USDC	+0.0540%	1h	0.6890	−0.177%	$207K	$405K	3x	as long as short
Backpack AERO_USDC_PERPlong	+0.1062%	1h	0.6902	long leg	$113K	$295K	15x
Lighter AERO	+0.1264%	1h	0.6910	+0.112%	$1.3M	$495K	3x	as long as short
Coinbase International AERO-PERP-INTX	+1.0840%	1h	0.6899	−0.045%	$90K	$36K	25x	as long as short