Funding arb · Price arb /

AERO

all AERO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0137%/8h= +15.0% APRpaid last 24h +0.040%

Price spread now: GMX against Bybit−0.035%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.035% cheaper against Bybit than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 21 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AEROUSDT	0.6936	0.0100	pay 0.0050% / 4h	3h 56m	$22.5M	$18.1M	25x
Short	GMX AERO/USD [ETH-USDC]	0.6934	L +0.0508% / S −0.0237%	get 0.0030% / 1h	56m 47s	$90K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $28.72
Price spread: −0.035% → 0.000%: −$3.52
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $2.2
Costs to cover: 0.230%
Break-even: 6.5 days

Slippage unknown: Bybit: live order book, 2 min ago; GMX: no order-book sample. Net counts fees only.

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, 2 min ago	0.72 bp	12.8 bp −$13	33.7 bp −$337	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.490%	$4	$209K	5.5x	as long as short
Hyperliquid AERO	+0.0100%	1h	0.6941	+0.076%	$23.2M	$5.1M	3x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6935	−0.013%	$40K	$118K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6939	+0.043%	$26.4M	$24.8M	75x	as long as short
Bybit AEROUSDTlong	+0.0100%	4h	0.6936	long leg	$22.5M	$18.1M	25x
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6940	+0.058%	$2.3M	$5.9M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6935	−0.014%	$1.6M	$461K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.6939	+0.043%	$8.3M	$1.5M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.6943	+0.101%	$2.1M	$926K	50x	as long as short
Bitget AEROUSDT	+0.0100%	4h	0.6935	−0.014%	$4.1M	$1.8M	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	0.6940	+0.058%	—	$1.7M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6936	+0.004%	$2.0M	$1.2M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6936	+0.005%	$211K	$2.0M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6936	+0.003%	$47K	—	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.6936	+0.005%	$19K	$4K	15x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6936	0.000%	$946K	$575K	25x	as long as short
Deribit AERO_USDC-PERPETUAL	+0.0471%	1h	0.6938	+0.029%	$55K	$11K	10x	as long as short
GMX AERO/USD [ETH-USDC]short	L +0.0508% / S −0.0237%	1h	0.6934	−0.035%	$90K	—	100x
RISEx AERO/USDC	+0.0658%	1h	0.6939	+0.050%	$220K	$451K	3x	as long as short
01 Exchange AEROUSD	+0.0680%	1h	0.6946	+0.140%	$188	$101	3x	as long as short
Lighter AERO	+0.1072%	1h	0.6949	+0.182%	$1.3M	$487K	3x	as long as short
Backpack AERO_USDC_PERP	+0.1115%	1h	0.6945	+0.134%	$115K	$289K	15x	as long as short
Coinbase International AERO-PERP-INTX	+0.3376%	1h	0.7045	+1.572%	$92K	$36K	25x	as long as short