Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0056%/8h= −6.2% APRpaid last 24h +0.113%

Price spread now: Paragon against Bybit−0.041%7-day average −0.032% · you buy dearer than you sell

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

Long on Bybit Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now −0.041%, 7d avg −0.032%

Together, before fees+0.135%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.077%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAOIUSDT	111.61	0.0106	pay 0.0106% / 8h	4h 13m	$1.8M	$2.6M	25x
Short	Paragon para:AAOI	111.56	0.0050	get 0.0006% / 1h	13m 18s	$238K	$718K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon against Bybit. 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 BybitbpFee ParagonbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$11.82
Price spread: −0.041% → −0.032%: −$0.87
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Paragon: 5 bp × 2 orders: −$10
Net: −$33.69
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 4 min ago; Paragon: live order book, 12 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 Bybit live order book, 4 min ago	1.79 bp	12.6 bp −$13	95.2 bp −$952	doesn't fit	doesn't fit
Sell Paragon live order book, 12 min ago	1.34 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

AAOI on 21 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
BloFin AAOI-USDT	−0.0012%	8h	111.59	−0.018%	$266K	$63K	20x	as long as short
Aster AAOIUSDT	0.0000%	8h	111.53	−0.073%	$41K	$37K	20x	as long as short
Extended AAOI-USD	0.0000%	1h	111.59	−0.022%	$15K	$213K	10x	as long as short
Binance AAOIUSDT	0.0000%	8h	111.62	+0.013%	$15.2M	$42.0M	20x	as long as short
Gate AAOI_USDT	0.0000%	8h	111.62	+0.009%	$4.0M	$13.1M	50x	as long as short
Bitget AAOIUSDT	0.0000%	8h	111.63	+0.018%	$2.8M	$3.0M	20x	as long as short
Variational Omni AAOI	0.0000%	8h	111.66	+0.041%	$153K	$131K	—	as long as short
SunX AAOI-USDT	0.0000%	8h	111.63	+0.018%	$1K	$1.2M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	111.73	+0.108%	$24K	$43K	20x	as long as short
GRVT AAOI_USDT_Perp	+0.0004%	8h	111.63	+0.018%	$671	$104K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAOI	+0.0032%	1h	111.59	−0.018%	—	—	10x	as long as short
Popdex AAOIUSDT	+0.0048%	1h	111.61	0.000%	$1K	$109K	20x	as long as short
Paragon para:AAOIshort	+0.0050%	1h	111.56	−0.041%	$238K	$718K	10x
QFEX AAOI-USD	+0.0053%	1h	111.61	0.000%	$1.1M	$2.2M	10x	as long as short
KuCoin AAOIUSDTM	+0.0100%	8h	111.58	−0.027%	$466K	$179K	20x	as long as short
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	111.58	−0.027%	$2K	$13K	10x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	111.57	−0.040%	—	—	10x	as long as short
Bybit AAOIUSDTlong	+0.0106%	8h	111.61	long leg	$1.8M	$2.6M	25x
edgeX AAOIUSDC	+0.0165%	4h	111.60	−0.008%	$13K	$265K	10x	as long as short
OKX AAOI-USDT-SWAP	+0.0214%	8h	111.71	+0.090%	$4.7M	$19.5M	20x	as long as short
tradeXYZ xyz:AAOI	+0.0301%	1h	111.59	−0.018%	$2.0M	$1.3M	10x	as long as short