Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0418%/8h= −45.7% APRpaid last 24h −0.120%

Price spread now: KuCoin against GMX+0.152%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 KuCoin

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. KuCoin is 0.152% dearer against GMX than usual: you sell high and buy low (spread +0.152% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$13 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]	0.6860	L +0.0518% / S −0.0255%	pay 0.0065% / 1h	20m 55s	$90K	—	100x
Short	KuCoin AEROUSDTM	0.6870	0.0100	get 0.0050% / 4h	20m 55s	$2.0M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.152%Rate

Funding earned: −$87.68
Price spread: +0.152% → 0.000%: $15.22
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$96.46
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 5 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 GMX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 5 min ago	2.91 bp	49.0 bp −$49	283.5 bp −$2,835	doesn't fit	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
Coinbase International AERO-PERP-INTX	−0.0360%	1h	0.6874	+0.211%	$88K	$37K	25x	as long as short
Deribit AERO_USDC-PERPETUAL	0.0000%	1h	0.6862	+0.036%	$54K	$11K	10x	as long as short
Injective AERO/USDC PERP	+0.0033%	1h	0.6902	+0.619%	$4	$209K	5.5x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6869	+0.144%	$42K	$127K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6868	+0.118%	$25.8M	$25.2M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.6865	+0.079%	$22.4M	$18.0M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6867	+0.108%	$2.3M	$5.9M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6867	+0.108%	$1.6M	$479K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.6867	+0.108%	$8.4M	$1.4M	100x	as long as short
KuCoin AEROUSDTMshort	+0.0100%	4h	0.6870	+0.152%	$2.0M	$1.1M	50x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AEROUSDT	+0.0100%	4h	0.6863	+0.050%	$4.0M	$1.9M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.6867	+0.108%	—	$1.8M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6863	+0.046%	$2.0M	$1.2M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6867	+0.115%	$204K	$1.4M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6863	+0.049%	$46K	—	3x	as long as short
Hyperliquid AERO	+0.0204%	1h	0.6873	+0.192%	$22.6M	$5.4M	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.6861	+0.027%	$19K	$4K	15x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6865	+0.079%	$940K	$577K	25x	as long as short
RISEx AERO/USDC	+0.0416%	1h	0.6865	+0.074%	$198K	$531K	3x	as long as short
01 Exchange AEROUSD	+0.0448%	1h	0.6869	+0.142%	$186	$101	3x	as long as short
GMX AERO/USD [ETH-USDC]long	L +0.0518% / S −0.0255%	1h	0.6860	long leg	$90K	—	100x
Backpack AERO_USDC_PERP	+0.0637%	1h	0.6869	+0.139%	$93K	$260K	15x	as long as short
Lighter AERO	+0.0800%	1h	0.6877	+0.250%	$1.3M	$394K	3x	as long as short