Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0406%/8h= −44.5% APRpaid last 24h −0.117%

Price spread now: Binance against GMX+0.148%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Binance

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. Binance is 0.148% dearer against GMX than usual: you sell high and buy low (spread +0.148% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AERO/USD [ETH-USDC]	0.6890	L +0.0506% / S −0.0237%	pay 0.0063% / 1h	40m 49s	$90K	—	100x
Short	Binance AEROUSDT	0.6900	0.0100	get 0.0050% / 4h	1h 40m	$26.2M	$25.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +0.148%Rate

Funding earned: −$85.32
Price spread: +0.148% → 0.000%: $14.85
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$92.48
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, just now. 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, just now	0.72 bp	16.1 bp −$16	37.2 bp −$372	277.9 bp −$27.8K	doesn't fit

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	+0.177%	$4	$209K	5.5x	as long as short
Deribit AERO_USDC-PERPETUAL	+0.0040%	1h	0.6891	+0.018%	$55K	$11K	10x	as long as short
Hyperliquid AERO	+0.0100%	1h	0.6898	+0.122%	$23.1M	$5.2M	3x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6894	+0.056%	$39K	$117K	10x	as long as short
Binance AEROUSDTshort	+0.0100%	4h	0.6900	+0.148%	$26.2M	$25.2M	75x
Bybit AEROUSDT	+0.0100%	4h	0.6895	+0.076%	$22.4M	$18.9M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6902	+0.177%	$2.3M	$6.6M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6892	+0.032%	$1.6M	$481K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.6900	+0.148%	$8.2M	$1.6M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.6896	+0.090%	$2.1M	$938K	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AEROUSDT	+0.0100%	4h	0.6897	+0.105%	$4.1M	$1.9M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.6898	+0.119%	—	$1.7M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6891	+0.020%	$2.0M	$1.3M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6899	+0.131%	$206K	$2.0M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6890	−0.002%	$46K	—	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.6893	+0.040%	$19K	$4K	15x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6899	+0.134%	$943K	$633K	25x	as long as short
01 Exchange AEROUSD	+0.0408%	1h	0.6892	+0.038%	$187	$101	3x	as long as short
GMX AERO/USD [ETH-USDC]long	L +0.0506% / S −0.0237%	1h	0.6890	long leg	$90K	—	100x
RISEx AERO/USDC	+0.0540%	1h	0.6890	+0.001%	$207K	$405K	3x	as long as short
Backpack AERO_USDC_PERP	+0.1062%	1h	0.6902	+0.179%	$113K	$295K	15x	as long as short
Lighter AERO	+0.1264%	1h	0.6910	+0.290%	$1.3M	$495K	3x	as long as short
Coinbase International AERO-PERP-INTX	+1.0840%	1h	0.6899	+0.134%	$90K	$36K	25x	as long as short