Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0128%/8h= −14.0% APRpaid last 24h −0.047%

Price spread now: Variational Omni against Reya+0.118%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Variational Omni

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—+ Points / potential airdropReya: Active · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.118% dearer against Reya than usual: you sell high and buy low (spread +0.118% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AERORUSDPERP	0.6928	0.0228	pay 0.0029% / 1h	56m 13s	$19K	$4K	15x
Short	Variational Omni AERO	0.6936	0.0100	get 0.0050% / 4h	3h 56m	$2.0M	$1.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Reya. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ReyabpFee Variational OmnibpOrdersPrice spread, now +0.118%Rate

Funding earned: −$26.92
Price spread: +0.118% → 0.000%: $11.78
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$21.14
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 3 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 Reya no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	4.32 bp	doesn't fit	30.3 bp −$303	doesn't fit	doesn't fit

Reya: 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	−0.377%	$4	$209K	5.5x	as long as short
Hyperliquid AERO	+0.0100%	1h	0.6933	+0.073%	$23.2M	$5.1M	3x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6938	+0.143%	$40K	$118K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6934	+0.086%	$26.4M	$24.8M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.6933	+0.070%	$22.5M	$18.1M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6940	+0.171%	$2.3M	$5.9M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6932	+0.056%	$1.6M	$461K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.6931	+0.042%	$8.3M	$1.5M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.6936	+0.114%	$2.1M	$926K	50x	as long as short
Bitget AEROUSDT	+0.0100%	4h	0.6931	+0.042%	$4.1M	$1.8M	75x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AERO-USDT	+0.0100%	4h	0.6936	+0.114%	—	$1.7M	—	as long as short
Variational Omni AEROshort	+0.0100%	4h	0.6936	+0.118%	$2.0M	$1.2M	—
Extended AERO-USD	+0.0104%	1h	0.6936	+0.119%	$211K	$2.0M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6931	+0.036%	$47K	—	3x	as long as short
Reya AERORUSDPERPlong	+0.0228%	1h	0.6928	long leg	$19K	$4K	15x
Deribit AERO_USDC-PERPETUAL	+0.0327%	1h	0.6936	+0.114%	$55K	$11K	10x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6936	+0.114%	$946K	$575K	25x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0508% / S −0.0237%	1h	0.6930	+0.021%	$90K	—	100x	as long as short
01 Exchange AEROUSD	+0.0656%	1h	0.6936	+0.117%	$188	$101	3x	as long as short
RISEx AERO/USDC	+0.0658%	1h	0.6930	+0.032%	$216K	$453K	3x	as long as short
Lighter AERO	+0.1088%	1h	0.6950	+0.320%	$1.3M	$487K	3x	as long as short
Backpack AERO_USDC_PERP	+0.1115%	1h	0.6945	+0.248%	$115K	$289K	15x	as long as short
Coinbase International AERO-PERP-INTX	+0.3376%	1h	0.7045	+1.687%	$92K	$36K	25x	as long as short