Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h —

Price spread now: Bybit against Lighter+0.090%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Bybit is 0.090% dearer against Lighter than usual: you sell high and buy low (spread +0.090% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAOI	110.66	0.0032	pay 0.0004% / 1h	42m 02s	—	—	10x
Short	Bybit AAOIUSDT	110.76	0	get 0.0000% / 8h	6h 42m	$1.8M	$2.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now +0.090%Rate

Funding earned: −$6.72
Price spread: +0.090% → 0.000%: $9.04
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$8.68
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; Bybit: live order book, 5 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 Lighter no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	2.26 bp	34.3 bp −$34	120.6 bp −$1,206	doesn't fit	doesn't fit

Lighter: 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.

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
Aster AAOIUSDT	0.0000%	8h	110.61	−0.043%	$41K	$37K	20x	as long as short
Extended AAOI-USD	0.0000%	1h	110.68	+0.021%	$18K	$206K	10x	as long as short
Binance AAOIUSDT	0.0000%	8h	110.70	+0.036%	$15.1M	$42.8M	20x	as long as short
Bybit AAOIUSDTshort	0.0000%	8h	110.76	+0.090%	$1.8M	$2.6M	25x
OKX AAOI-USDT-SWAP	0.0000%	8h	110.83	+0.154%	$4.4M	$19.1M	20x	as long as short
Gate AAOI_USDT	0.0000%	8h	110.74	+0.072%	$4.0M	$14.4M	50x	as long as short
Bitget AAOIUSDT	0.0000%	8h	110.72	+0.054%	$2.7M	$3.1M	20x	as long as short
Variational Omni AAOI	0.0000%	8h	110.76	+0.088%	$152K	$132K	—	as long as short
GRVT AAOI_USDT_Perp	0.0000%	8h	110.79	+0.119%	$494	$101K	10x	as long as short
SunX AAOI-USDT	0.0000%	8h	110.76	+0.090%	$1K	$1.2M	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX AAOI-USDT	0.0000%	8h	110.70	+0.036%	$24K	$40K	20x	as long as short
BloFin AAOI-USDT	+0.0014%	8h	111.12	+0.416%	$250K	$62K	20x	as long as short
QFEX AAOI-USD	+0.0015%	1h	110.67	+0.009%	$1.1M	$2.5M	10x	as long as short
Lighter AAOIlong	+0.0032%	1h	110.66	long leg	—	—	10x
Popdex AAOIUSDT	+0.0048%	1h	110.72	+0.054%	$929	$109K	20x	as long as short
KuCoin AAOIUSDTM	+0.0100%	8h	110.68	+0.018%	$464K	$163K	20x	as long as short
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	110.67	+0.009%	$2K	$14K	10x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	110.65	−0.009%	—	—	10x	as long as short
tradeXYZ xyz:AAOI	+0.0260%	1h	110.73	+0.063%	$2.0M	$1.4M	10x	as long as short
Paragon para:AAOI	+0.0542%	1h	110.69	+0.027%	$239K	$716K	10x	as long as short
edgeX AAOIUSDC	+0.0945%	4h	110.78	+0.110%	$13K	$264K	10x	as long as short