Funding you earn now, next payment 00:00 UTC+0.0881%/8h= +96.5% APRnext payment +$1.10 per $10,000 · paid last 24h +0.118%
Price spread now: Lighter against Backpack+0.180%7-day average +0.142% · you sell dearer than you buy
Net, funding: paid 7d − costs+$1as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$530.526% of the position
Funding, last 7 days+0.541%+$54 on $10k
+Price spread, last 4 days (all we have)−0.067%−$7 · spread now +0.180%, 7d avg +0.142%
=Together, before fees+0.474%+ Points / potential airdropLighter: Season 3 · farm board+$47 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and Lighter is 0.038% dearer against Backpack than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.142%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.541% in total (about 28.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.10 per $10,000. 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 | 0.7047 | 0.1047 | pay 0.0131% / 1h | 31m 08s | $105K | $316K | 15x |
| Short | Lighter AERO | 0.7060 | 0.1928 | get 0.0241% / 1h | 31m 08s | $1.3M | $461K | 3x |
Backpack AERO_USDC_PERP
Lighter AEROFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $184.98
- Price spread: +0.180% → +0.142%
- $3.79
- Slippage, 4 orders
- −$42.62
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $136.15
- Costs to cover
- 0.526%
- Break-even
- 1.8 days
Slippage from Backpack: live order book, 47 min ago; Lighter: 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, 47 min ago | 0.36 bp | 5.8 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 5 min ago | 5.17 bp | 7.8 bp −$8 | 73.7 bp −$737 | 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 | −2.063% | $4 | $209K | 5.5x | as long as short |
| Deribit AERO_USDC-PERPETUAL | +0.0034% | 1h | 0.7040 | −0.105% | $56K | $11K | 10x | as long as short |
| Aster AEROUSDT | +0.0100% | 4h | 0.7053 | +0.079% | $41K | $113K | 10x | as long as short |
| Binance AEROUSDT | +0.0100% | 4h | 0.7036 | −0.167% | $26.5M | $26.4M | 75x | as long as short |
| Bybit AEROUSDT | +0.0100% | 4h | 0.7037 | −0.148% | $22.8M | $21.7M | 25x | as long as short |
| OKX AERO-USDT-SWAP | +0.0100% | 4h | 0.7041 | −0.091% | $2.3M | $7.1M | 20x | as long as short |
| Gate AERO_USDT | +0.0100% | 4h | 0.7041 | −0.091% | $1.6M | $535K | 75x | as long as short |
| MEXC AERO_USDT | +0.0100% | 4h | 0.7041 | −0.091% | $8.4M | $1.7M | 100x | as long as short |
| KuCoin AEROUSDTM | +0.0100% | 4h | 0.7045 | −0.034% | $2.2M | $935K | 50x | as long as short |
| Bitget AEROUSDT | +0.0100% | 4h | 0.7039 | −0.119% | $4.1M | $2.2M | 75x | as long as short |
Injective AERO/USDC PERP
Deribit AERO_USDC-PERPETUAL
Aster AEROUSDT
Binance AEROUSDT
Bybit 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 | 0.7045 | −0.034% | — | $1.8M | — | as long as short |
| Variational Omni AERO | +0.0100% | 4h | 0.7041 | −0.088% | $2.1M | $1.8M | — | as long as short |
| Extended AERO-USD | +0.0104% | 1h | 0.7037 | −0.147% | $218K | $1.3M | 10x | as long as short |
| Aevo AERO-PERP | +0.0104% | 1h | 0.7039 | −0.117% | $47K | — | 3x | as long as short |
| Reya AERORUSDPERP | +0.0228% | 1h | 0.7042 | −0.071% | $20K | $4K | 15x | as long as short |
| BloFin AERO-USDT | +0.0340% | 4h | 0.7040 | −0.105% | $944K | $717K | 25x | as long as short |
| GMX AERO/USD [ETH-USDC] | L +0.0514% / S −0.0250% | 1h | 0.7040 | −0.111% | $91K | — | 100x | as long as short |
| Coinbase International AERO-PERP-INTX | +0.0520% | 1h | 0.7530 | +6.848% | $100K | $35K | 25x | as long as short |
| RISEx AERO/USDC | +0.0563% | 1h | 0.7048 | +0.012% | $239K | $392K | 3x | as long as short |
| Hyperliquid AERO | +0.0623% | 1h | 0.7052 | +0.067% | $23.7M | $5.4M | 3x | as long as short |
| 01 Exchange AEROUSD | +0.0720% | 1h | 0.7053 | +0.082% | $191 | $111 | 3x | as long as short |
| Backpack AERO_USDC_PERPlong | +0.1047% | 1h | 0.7047 | long leg | $105K | $316K | 15x | |
| Lighter AEROshort | +0.1928% | 1h | 0.7060 | +0.180% | $1.3M | $461K | 3x |
BingX AERO-USDT
Variational Omni AERO
Extended AERO-USD
Aevo AERO-PERP
Reya AERORUSDPERP
BloFin AERO-USDT
GMX AERO/USD [ETH-USDC]
Coinbase International AERO-PERP-INTX
RISEx AERO/USDC
Hyperliquid AERO
01 Exchange AEROUSD