Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0079%/8h= −8.7% APRpaid last 24h +0.048%

Price spread now: Bybit against Deribit+0.057%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Bybit

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

The price spread pays, funding is against you. Bybit is 0.057% dearer against Deribit than usual: you sell high and buy low (spread +0.057% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AERO_USDC-PERPETUAL	0.6991	0.0179	pay 0.0022% / 1h	16m 10s	$55K	$11K	10x
Short	Bybit AEROUSDT	0.6995	0.0100	get 0.0050% / 4h	3h 16m	$22.6M	$20.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Deribit. 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 DeribitbpFee BybitbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$16.59
Price spread: +0.057% → 0.000%: $5.72
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$28.87
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Bybit: live order book, 2 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	0.72 bp	12.8 bp −$13	36.8 bp −$368	312.1 bp −$31.2K	doesn't fit

Deribit: 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	−1.273%	$4	$209K	5.5x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6989	−0.029%	$40K	$109K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6997	+0.079%	$26.6M	$26.1M	75x	as long as short
Bybit AEROUSDTshort	+0.0100%	4h	0.6995	+0.057%	$22.6M	$20.5M	25x
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6992	+0.014%	$2.3M	$6.9M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6990	−0.014%	$1.6M	$495K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.6994	+0.043%	$8.3M	$1.7M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.6991	0.000%	$2.2M	$936K	50x	as long as short
Bitget AEROUSDT	+0.0100%	4h	0.6992	+0.014%	$4.1M	$2.1M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.6987	−0.057%	—	$1.8M	—	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AERO	+0.0100%	4h	0.6985	−0.087%	$2.0M	$1.7M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6992	+0.015%	$217K	$2.0M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6988	−0.042%	$47K	—	3x	as long as short
Deribit AERO_USDC-PERPETUALlong	+0.0179%	1h	0.6991	long leg	$55K	$11K	10x
Reya AERORUSDPERP	+0.0228%	1h	0.6990	−0.019%	$20K	$4K	15x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6966	−0.358%	$946K	$716K	25x	as long as short
01 Exchange AEROUSD	+0.0448%	1h	0.6998	+0.104%	$190	$111	3x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0512% / S −0.0240%	1h	0.6986	−0.075%	$92K	—	100x	as long as short
RISEx AERO/USDC	+0.0687%	1h	0.6990	−0.016%	$216K	$392K	3x	as long as short
Hyperliquid AERO	+0.0856%	1h	0.7006	+0.210%	$23.7M	$5.0M	3x	as long as short
Backpack AERO_USDC_PERP	+0.1399%	1h	0.6998	+0.094%	$134K	$298K	15x	as long as short
Lighter AERO	+0.1616%	1h	0.7011	+0.289%	$1.3M	$462K	3x	as long as short
Coinbase International AERO-PERP-INTX	+0.3896%	1h	0.7091	+1.430%	$93K	$36K	25x	as long as short