Funding you earn now, next payment 23:00 UTC+0.0434%/8h= +47.5% APRnext payment +$0.54 per $10,000 · paid last 24h +0.086%
Price spread now: Backpack against Injective+0.103%72s7-day average −0.807% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.365%+$36 on $10k
+Price spread, last 3 days (all we have)+5.181%+$518 · spread now +0.103%, 7d avg −0.807%
=Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Backpack is 0.910% dearer against Injective than usual: you sell high and buy low: +$91 more if the spread goes back to its 7-day average of −0.807%. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective AERO/USDC PERP | 0.6902 | 0.0175 | pay 0.0022% / 1h | 55m 31s | $4 | $209K | 5.5x |
| Short | Backpack AERO_USDC_PERP | 0.6909 | 0.0609 | get 0.0076% / 1h | 55m 31s | $102K | $313K | 15x |
Injective AERO/USDC PERP
Backpack AERO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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
- $91.16
- Price spread: +0.103% → −0.807%
- $91.03
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $172.17
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Backpack: live order book, 28 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 Injective no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 28 min ago | 0.07 bp | 7.3 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit AERO_USDC-PERPETUAL | −0.0185% | 1h | 0.6901 | −0.014% | $55K | $11K | 10x | as long as short |
| Hyperliquid AERO | +0.0100% | 1h | 0.6914 | +0.170% | $23.2M | $5.7M | 3x | as long as short |
| Aster AEROUSDT | +0.0100% | 4h | 0.6901 | −0.009% | $39K | $109K | 10x | as long as short |
| Binance AEROUSDT | +0.0100% | 4h | 0.6907 | +0.078% | $25.6M | $25.6M | 75x | as long as short |
| Bybit AEROUSDT | +0.0100% | 4h | 0.6908 | +0.087% | $22.0M | $20.7M | 25x | as long as short |
| OKX AERO-USDT-SWAP | +0.0100% | 4h | 0.6912 | +0.145% | $2.3M | $6.9M | 20x | as long as short |
| Gate AERO_USDT | +0.0100% | 4h | 0.6902 | 0.000% | $1.6M | $522K | 75x | as long as short |
| MEXC AERO_USDT | +0.0100% | 4h | 0.6910 | +0.116% | $8.2M | $1.6M | 100x | as long as short |
| KuCoin AEROUSDTM | +0.0100% | 4h | 0.6909 | +0.101% | $2.1M | $839K | 50x | as long as short |
| Bitget AEROUSDT | +0.0100% | 4h | 0.6907 | +0.072% | $4.1M | $2.2M | 75x | as long as short |
Deribit AERO_USDC-PERPETUAL
Hyperliquid AERO
Aster AEROUSDT
Binance AEROUSDT
Bybit 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 | 0.6905 | +0.043% | — | $1.8M | — | as long as short |
| Variational Omni AERO | +0.0100% | 4h | 0.6884 | −0.264% | $1.9M | $1.7M | — | as long as short |
| Extended AERO-USD | +0.0104% | 1h | 0.6906 | +0.053% | $201K | $1.3M | 10x | as long as short |
| Aevo AERO-PERP | +0.0104% | 1h | 0.6901 | −0.014% | $46K | — | 3x | as long as short |
| Injective AERO/USDC PERPlong | +0.0175% | 1h | 0.6902 | long leg | $4 | $209K | 5.5x | |
| Reya AERORUSDPERP | +0.0228% | 1h | 0.6910 | +0.120% | $19K | $4K | 15x | as long as short |
| 01 Exchange AEROUSD | +0.0264% | 1h | 0.6917 | +0.212% | $187 | $115 | 3x | as long as short |
| BloFin AERO-USDT | +0.0340% | 4h | 0.6885 | −0.246% | $915K | $693K | 25x | as long as short |
| GMX AERO/USD [ETH-USDC] | L +0.0503% / S −0.0223% | 1h | 0.6899 | −0.051% | $92K | — | 100x | as long as short |
| Backpack AERO_USDC_PERPshort | +0.0609% | 1h | 0.6909 | +0.103% | $102K | $313K | 15x | |
| RISEx AERO/USDC | +0.0676% | 1h | 0.6909 | +0.099% | $214K | $379K | 3x | as long as short |
| Coinbase International AERO-PERP-INTX | +0.0736% | 1h | 0.6979 | +1.116% | $93K | $33K | 25x | as long as short |
| Lighter AERO | +0.0912% | 1h | 0.6919 | +0.245% | $1.3M | $464K | 3x | as long as short |
BingX AERO-USDT
Variational Omni AERO
Extended AERO-USD
Aevo AERO-PERP
Reya AERORUSDPERP
01 Exchange AEROUSD
BloFin AERO-USDT
GMX AERO/USD [ETH-USDC]
RISEx AERO/USDC
Coinbase International AERO-PERP-INTX
Lighter AERO