Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1812%/8h= +198.4% APRpaid last 24h +0.185%

Price spread now: Lighter against MEXC+0.273%7-day average +0.172% · you sell dearer than you buy

Net, funding: paid 7d − costs+$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.791%+$79 on $10k

Price spread, last 4 days (all we have)−0.150%−$15 · spread now +0.273%, 7d avg +0.172%

Together, before fees+0.641%+ Points / potential airdropLighter: Season 3 · farm board+$64 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$54 a day on $10k at the current rate, and Lighter is 0.100% dearer against MEXC than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.172%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.791% in total (about 41.3% 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	MEXC AERO_USDT	0.7002	0.0100	pay 0.0050% / 4h	46m 44s	$8.4M	$1.7M	100x
Short	Lighter AERO	0.7021	0.1912	get 0.0239% / 1h	46m 44s	$1.3M	$459K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.273%Rate

Funding earned: $380.52
Price spread: +0.273% → +0.172%: $10.04
Slippage, 4 orders: −$37.38
Fee MEXC: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $345.18
Costs to cover: 0.454%
Break-even: 0.7 days

Slippage from MEXC: live order book, 1 min ago; Lighter: live order book, 4 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 MEXC live order book, 1 min ago	2.14 bp	11.8 bp −$12	25.3 bp −$253	126.7 bp −$12.7K	doesn't fit
Sell Lighter live order book, 4 min ago	3.06 bp	5.7 bp −$6	69.8 bp −$698	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	−1.428%	$4	$209K	5.5x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.7008	+0.086%	$40K	$111K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.7007	+0.068%	$26.2M	$25.9M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.7004	+0.029%	$22.5M	$21.0M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.7007	+0.071%	$2.3M	$6.9M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6993	−0.129%	$1.6M	$525K	75x	as long as short
MEXC AERO_USDTlong	+0.0100%	4h	0.7002	long leg	$8.4M	$1.7M	100x
KuCoin AEROUSDTM	+0.0100%	4h	0.6996	−0.086%	$2.2M	$918K	50x	as long as short
Bitget AEROUSDT	+0.0100%	4h	0.7001	−0.014%	$4.1M	$2.1M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.6997	−0.071%	—	$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	0.6986	−0.227%	$2.0M	$1.7M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.7001	−0.008%	$217K	$1.3M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6993	−0.129%	$47K	—	3x	as long as short
Deribit AERO_USDC-PERPETUAL	+0.0179%	1h	0.6995	−0.100%	$56K	$11K	10x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.7005	+0.048%	$20K	$4K	15x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6994	−0.114%	$924K	$711K	25x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0511% / S −0.0250%	1h	0.6996	−0.087%	$90K	—	100x	as long as short
Coinbase International AERO-PERP-INTX	+0.0520%	1h	0.7492	+6.998%	$99K	$35K	25x	as long as short
Hyperliquid AERO	+0.0528%	1h	0.7012	+0.150%	$23.5M	$5.4M	3x	as long as short
RISEx AERO/USDC	+0.0563%	1h	0.7012	+0.136%	$254K	$385K	3x	as long as short
01 Exchange AEROUSD	+0.0824%	1h	0.7021	+0.276%	$190	$111	3x	as long as short
Backpack AERO_USDC_PERP	+0.1104%	1h	0.7007	+0.069%	$103K	$315K	15x	as long as short
Lighter AEROshort	+0.1912%	1h	0.7021	+0.273%	$1.3M	$459K	3x