Funding you earn now, next payment 23:00 UTC+0.0538%/8h= +58.9% APRpaid last 24h +0.058%
Price spread now: Backpack against Bybit+0.187%7-day average +0.043% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$460.458% of the position
Funding, last 7 days+0.284%+$28 on $10k
+Price spread, last 4 days (all we have)−0.220%−$22 · spread now +0.187%, 7d avg +0.043%
=Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Backpack is 0.144% dearer against Bybit than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.043%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.284% in total (about 14.8% 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 | Bybit AEROUSDT | 0.6899 | 0.0100 | pay 0.0050% / 4h | 1h 54m | $21.9M | $20.7M | 25x |
| Short | Backpack AERO_USDC_PERP | 0.6912 | 0.0638 | get 0.0080% / 1h | 54m 34s | $102K | $313K | 15x |
Bybit AEROUSDT
Backpack AERO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bybit. 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
- $113.04
- Price spread: +0.187% → +0.043%
- $14.44
- Slippage, 4 orders
- −$24.78
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $81.7
- Costs to cover
- 0.458%
- Break-even
- 1.9 days
Slippage from Bybit: live order book, 4 min ago; Backpack: live order book, 29 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 Bybit live order book, 4 min ago | 1.45 bp | 16.4 bp −$16 | 37.9 bp −$379 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 29 min ago | 0.07 bp | 7.3 bp −$7 | doesn't fit | 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 | −0.0184% | 1h | 0.6906 | +0.101% | $55K | $11K | 10x | as long as short |
| Hyperliquid AERO | +0.0100% | 1h | 0.6906 | +0.104% | $23.2M | $5.7M | 3x | as long as short |
| Aster AEROUSDT | +0.0100% | 4h | 0.6902 | +0.037% | $39K | $109K | 10x | as long as short |
| Binance AEROUSDT | +0.0100% | 4h | 0.6899 | +0.005% | $25.5M | $25.6M | 75x | as long as short |
| Bybit AEROUSDTlong | +0.0100% | 4h | 0.6899 | long leg | $21.9M | $20.7M | 25x | |
| OKX AERO-USDT-SWAP | +0.0100% | 4h | 0.6902 | +0.043% | $2.3M | $6.9M | 20x | as long as short |
| Gate AERO_USDT | +0.0100% | 4h | 0.6901 | +0.029% | $1.6M | $522K | 75x | as long as short |
| MEXC AERO_USDT | +0.0100% | 4h | 0.6902 | +0.043% | $8.2M | $1.6M | 100x | as long as short |
| KuCoin AEROUSDTM | +0.0100% | 4h | 0.6907 | +0.116% | $2.1M | $873K | 50x | as long as short |
| Bitget AEROUSDT | +0.0100% | 4h | 0.6904 | +0.072% | $4.1M | $2.2M | 75x | as long as short |
Deribit AERO_USDC-PERPETUAL
Hyperliquid AERO
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 | 0.6907 | +0.116% | — | $1.8M | — | as long as short |
| Variational Omni AERO | +0.0100% | 4h | 0.6900 | +0.020% | $1.9M | $1.7M | — | as long as short |
| Extended AERO-USD | +0.0104% | 1h | 0.6900 | +0.020% | $202K | $1.3M | 10x | as long as short |
| Aevo AERO-PERP | +0.0104% | 1h | 0.6907 | +0.110% | $46K | — | 3x | as long as short |
| Injective AERO/USDC PERP | +0.0175% | 1h | 0.6902 | +0.043% | $4 | $209K | 5.5x | as long as short |
| Reya AERORUSDPERP | +0.0228% | 1h | 0.6910 | +0.164% | $19K | $4K | 15x | as long as short |
| 01 Exchange AEROUSD | +0.0272% | 1h | 0.6906 | +0.107% | $187 | $115 | 3x | as long as short |
| BloFin AERO-USDT | +0.0340% | 4h | 0.6904 | +0.072% | $911K | $695K | 25x | as long as short |
| GMX AERO/USD [ETH-USDC] | L +0.0503% / S −0.0223% | 1h | 0.6907 | +0.119% | $92K | — | 100x | as long as short |
| Backpack AERO_USDC_PERPshort | +0.0638% | 1h | 0.6912 | +0.187% | $102K | $313K | 15x | |
| RISEx AERO/USDC | +0.0676% | 1h | 0.6906 | +0.097% | $214K | $379K | 3x | as long as short |
| Coinbase International AERO-PERP-INTX | +0.0736% | 1h | 0.6979 | +1.160% | $93K | $33K | 25x | as long as short |
| Lighter AERO | +0.0920% | 1h | 0.6921 | +0.323% | $1.3M | $464K | 3x | as long as short |
BingX AERO-USDT
Variational Omni AERO
Extended AERO-USD
Aevo AERO-PERP
Injective AERO/USDC PERP
Reya AERORUSDPERP
01 Exchange AEROUSD
BloFin AERO-USDT
GMX AERO/USD [ETH-USDC]
RISEx AERO/USDC
Coinbase International AERO-PERP-INTX
Lighter AERO