Funding you earn now, next payment 04:00 UTC+0.0896%/8h= +98.1% APRpaid last 24h +0.108%
Price spread now: Backpack against KuCoin−0.033%7-day average +0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$99as in the Price arb table
costs, in and out, $10k−$930.930% of the position
Funding, last 7 days+0.336%+$34 on $10k
+Price spread, last 4 days (all we have)+0.109%+$11 · spread now −0.033%, 7d avg +0.028%
=Funding pays, the price is against you. Backpack is 0.061% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.028%). If the spread goes back, that is −$6 on $10k: about 5 hours of funding at the current rate (+$27 a day). At the pace of the last 7 days (+0.336% in total) that is about 30 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.336% in total (about 17.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin AEROUSDTM | 0.6952 | 0.0100 | pay 0.0050% / 4h | 3h 59m | $2.1M | $926K | 50x |
| Short | Backpack AERO_USDC_PERP | 0.6950 | 0.0996 | get 0.0125% / 1h | 59m 32s | $115K | $289K | 15x |
KuCoin AEROUSDTM
Backpack AERO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against KuCoin. 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
- $188.21
- Price spread: −0.033% → +0.028%
- −$6.09
- Slippage, 4 orders
- −$71
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $89.12
- Costs to cover
- 0.930%
- Break-even
- 3.7 days
Slippage from KuCoin: live order book, 7 min ago; Backpack: live order book, 59 min ago.
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 KuCoin live order book, 7 min ago | 7.95 bp | 45.8 bp −$46 | 360.7 bp −$3,607 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 59 min ago | 0.07 bp | 5.8 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
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 | −0.719% | $4 | $209K | 5.5x | as long as short |
| Hyperliquid AERO | +0.0100% | 1h | 0.6944 | −0.115% | $23.2M | $5.1M | 3x | as long as short |
| Aster AEROUSDT | +0.0100% | 4h | 0.6941 | −0.160% | $40K | $118K | 10x | as long as short |
| Binance AEROUSDT | +0.0100% | 4h | 0.6945 | −0.101% | $26.4M | $24.8M | 75x | as long as short |
| Bybit AEROUSDT | +0.0100% | 4h | 0.6940 | −0.173% | $22.5M | $18.1M | 25x | as long as short |
| OKX AERO-USDT-SWAP | +0.0100% | 4h | 0.6948 | −0.058% | $2.3M | $5.9M | 20x | as long as short |
| Gate AERO_USDT | +0.0100% | 4h | 0.6944 | −0.115% | $1.6M | $461K | 75x | as long as short |
| MEXC AERO_USDT | +0.0100% | 4h | 0.6943 | −0.129% | $8.3M | $1.5M | 100x | as long as short |
| KuCoin AEROUSDTMlong | +0.0100% | 4h | 0.6952 | long leg | $2.1M | $926K | 50x | |
| Bitget AEROUSDT | +0.0100% | 4h | 0.6940 | −0.173% | $4.1M | $1.8M | 75x | as long as short |
Injective AERO/USDC PERP
Hyperliquid AERO
Aster AEROUSDT
Binance AEROUSDT
Bybit AEROUSDT
OKX AERO-USDT-SWAP
Gate AERO_USDT
MEXC AERO_USDT
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 | 0.6948 | −0.058% | — | $1.7M | — | as long as short |
| Variational Omni AERO | +0.0100% | 4h | 0.6936 | −0.226% | $2.0M | $1.2M | — | as long as short |
| Extended AERO-USD | +0.0104% | 1h | 0.6944 | −0.121% | $211K | $2.0M | 10x | as long as short |
| Aevo AERO-PERP | +0.0104% | 1h | 0.6940 | −0.165% | $47K | — | 3x | as long as short |
| Reya AERORUSDPERP | +0.0228% | 1h | 0.6938 | −0.203% | $19K | $4K | 15x | as long as short |
| BloFin AERO-USDT | +0.0340% | 4h | 0.6941 | −0.158% | $950K | $576K | 25x | as long as short |
| Deribit AERO_USDC-PERPETUAL | +0.0471% | 1h | 0.6944 | −0.115% | $55K | $11K | 10x | as long as short |
| GMX AERO/USD [ETH-USDC] | L +0.0508% / S −0.0237% | 1h | 0.6940 | −0.178% | $90K | — | 100x | as long as short |
| RISEx AERO/USDC | +0.0658% | 1h | 0.6945 | −0.095% | $222K | $450K | 3x | as long as short |
| 01 Exchange AEROUSD | +0.0896% | 1h | 0.6959 | +0.099% | $189 | $101 | 3x | as long as short |
| Lighter AERO | +0.0976% | 1h | 0.6960 | +0.109% | $1.3M | $487K | 3x | as long as short |
| Backpack AERO_USDC_PERPshort | +0.0996% | 1h | 0.6950 | −0.033% | $115K | $289K | 15x | |
| Coinbase International AERO-PERP-INTX | +0.6656% | 1h | 0.6948 | −0.058% | $91K | $35K | 25x | as long as short |
BingX AERO-USDT
Variational Omni AERO
Extended AERO-USD
Aevo AERO-PERP
Reya AERORUSDPERP
BloFin AERO-USDT
Deribit AERO_USDC-PERPETUAL
GMX AERO/USD [ETH-USDC]
RISEx AERO/USDC
01 Exchange AEROUSD
Lighter AERO
Coinbase International AERO-PERP-INTX