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= +6.1% APRpaid last 24h −0.007%

Price spread now: Bybit against QFEX−0.009%7-day average +0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$490.494% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.090%+$9 on $10k

Price spread, last 7 days+0.054%+$5 · spread now −0.009%, 7d avg +0.057%

Together, before fees+0.144%+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.066% cheaper against QFEX than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.057%). If the spread goes back, that is −$7 on $10k: about 3.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX AAOI-USD	111.79	0.0053	pay 0.0007% / 1h	18m 00s	$1.1M	$2.2M	10x
Short	Bybit AAOIUSDT	111.78	0.0109	get 0.0109% / 8h	4h 18m	$1.8M	$2.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now −0.009%Rate

Funding earned: $11.73
Price spread: −0.009% → +0.057%: −$6.58
Slippage, 4 orders: −$28.4
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$44.26
Costs to cover: 0.494%
Break-even: 33.4 days

Slippage from QFEX: live order book, 4 min ago; Bybit: 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 QFEX live order book, 4 min ago	1.34 bp	9.8 bp −$10	14.8 bp −$148	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.79 bp	19.0 bp −$19	88.5 bp −$885	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
Paragon para:AAOI	−0.0003%	1h	111.70	−0.079%	$239K	$717K	10x	as long as short
Aster AAOIUSDT	0.0000%	8h	111.65	−0.122%	$41K	$37K	20x	as long as short
Extended AAOI-USD	0.0000%	1h	111.76	−0.029%	$15K	$213K	10x	as long as short
Binance AAOIUSDT	0.0000%	8h	111.80	+0.007%	$15.2M	$42.0M	20x	as long as short
Gate AAOI_USDT	0.0000%	8h	111.81	+0.018%	$4.1M	$13.1M	50x	as long as short
Bitget AAOIUSDT	0.0000%	8h	111.79	0.000%	$2.8M	$3.0M	20x	as long as short
Variational Omni AAOI	0.0000%	8h	111.84	+0.044%	$153K	$131K	—	as long as short
GRVT AAOI_USDT_Perp	0.0000%	8h	111.83	+0.036%	$631	$103K	10x	as long as short
SunX AAOI-USDT	0.0000%	8h	111.79	0.000%	$1K	$1.2M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	111.91	+0.107%	$24K	$43K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin AAOI-USDT	+0.0013%	8h	111.81	+0.018%	$265K	$64K	20x	as long as short
Lighter AAOI	+0.0032%	1h	111.76	−0.027%	—	—	10x	as long as short
Popdex AAOIUSDT	+0.0048%	1h	111.80	+0.009%	$1K	$109K	20x	as long as short
QFEX AAOI-USDlong	+0.0053%	1h	111.79	long leg	$1.1M	$2.2M	10x
KuCoin AAOIUSDTM	+0.0100%	8h	111.78	−0.009%	$467K	$177K	20x	as long as short
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	111.77	−0.018%	$2K	$13K	10x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	111.75	−0.040%	—	—	10x	as long as short
Bybit AAOIUSDTshort	+0.0109%	8h	111.78	−0.009%	$1.8M	$2.6M	25x
OKX AAOI-USDT-SWAP	+0.0200%	8h	111.84	+0.045%	$4.7M	$19.5M	20x	as long as short
tradeXYZ xyz:AAOI	+0.0302%	1h	111.74	−0.045%	$2.0M	$1.3M	10x	as long as short
edgeX AAOIUSDC	+0.0931%	4h	111.87	+0.069%	$13K	$264K	10x	as long as short