Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0169%/8h= −18.6% APRpaid last 24h −0.082%

Price spread now: Orderly against Paragon−0.060%7-day average — · you buy dearer than you sell

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

Long on Paragon Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Orderly is 0.060% cheaper against Paragon than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:AAOI	111.30	0.0269	pay 0.0034% / 1h	26m 25s	$239K	$712K	10x
Short	Orderly PERP_AAOI_USDC_mythos	111.23	0.0100	get 0.0100% / 8h	5h 26m	$2K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Paragon. 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 ParagonbpFee OrderlybpOrdersPrice spread, now −0.060%Rate

Funding earned: −$35.59
Price spread: −0.060% → 0.000%: −$5.98
Slippage, 4 orders: no order book: not counted
Fee Paragon: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$57.57
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paragon: live order book, 9 min ago; Orderly: no order-book sample. 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 Paragon live order book, 9 min ago	3.14 bp	36.4 bp −$36	130.5 bp −$1,305	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	111.21	−0.078%	$41K	$37K	20x	as long as short
Extended AAOI-USD	0.0000%	1h	111.24	−0.051%	$14K	$211K	10x	as long as short
Binance AAOIUSDT	0.0000%	8h	111.27	−0.024%	$15.1M	$41.7M	20x	as long as short
Bybit AAOIUSDT	0.0000%	8h	111.29	−0.006%	$1.8M	$2.6M	25x	as long as short
OKX AAOI-USDT-SWAP	0.0000%	8h	111.42	+0.111%	$4.5M	$19.1M	20x	as long as short
Gate AAOI_USDT	0.0000%	8h	111.31	+0.012%	$4.0M	$13.4M	50x	as long as short
Bitget AAOIUSDT	0.0000%	8h	111.29	−0.006%	$2.7M	$3.0M	20x	as long as short
Variational Omni AAOI	0.0000%	8h	111.48	+0.167%	$153K	$131K	—	as long as short
GRVT AAOI_USDT_Perp	0.0000%	8h	111.57	+0.245%	$672	$102K	10x	as long as short
SunX AAOI-USDT	0.0000%	8h	111.29	−0.006%	$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	111.17	−0.114%	$24K	$41K	20x	as long as short
QFEX AAOI-USD	+0.0017%	1h	111.29	−0.006%	$1.1M	$2.3M	10x	as long as short
BloFin AAOI-USDT	+0.0022%	8h	111.32	+0.021%	$255K	$62K	20x	as long as short
Lighter AAOI	+0.0032%	1h	111.22	−0.069%	—	—	10x	as long as short
Popdex AAOIUSDT	+0.0048%	1h	111.35	+0.048%	$1K	$109K	20x	as long as short
KuCoin AAOIUSDTM	+0.0100%	8h	111.30	+0.003%	$466K	$170K	20x	as long as short
Orderly PERP_AAOI_USDC_mythosshort	+0.0100%	8h	111.23	−0.060%	$2K	$13K	10x
Aevo AAOI-PERP	+0.0104%	1h	111.24	−0.051%	—	—	10x	as long as short
tradeXYZ xyz:AAOI	+0.0227%	1h	111.30	+0.003%	$2.0M	$1.4M	10x	as long as short
Paragon para:AAOIlong	+0.0269%	1h	111.30	long leg	$239K	$712K	10x
edgeX AAOIUSDC	+0.0334%	4h	111.52	+0.201%	$13K	$262K	10x	as long as short