Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0320%/8h= −35.0% APRpaid last 24h −0.044%

Price spread now: Variational Omni against tradeXYZ+0.239%7-day average +0.063% · you sell dearer than you buy

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

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.022%−$2 · spread now +0.239%, 7d avg +0.063%

Together, before fees−0.022%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.176% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.239% now, against its 7-day average of +0.063%): +$18 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 44 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.000% in total (about 0.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:AAOI	111.73	0.0320	pay 0.0040% / 1h	23m 05s	$2.0M	$1.4M	10x
Short	Variational Omni AAOI	112.00	0	get 0.0000% / 8h	7h 23m	$153K	$164K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against tradeXYZ. 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 tradeXYZbpFee Variational OmnibpOrdersPrice spread, now +0.239%Rate

Funding earned: −$67.11
Price spread: +0.239% → +0.063%: $17.57
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$67.54
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 5 min ago; Variational Omni: RFQ quote, 51 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 tradeXYZ live order book, 5 min ago	1.34 bp	15.5 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 51 min ago	3.32 bp	doesn't fit	67.6 bp −$676	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
QFEX AAOI-USD	−0.0006%	1h	111.70	−0.027%	$1.1M	$2.5M	10x	as long as short
BloFin AAOI-USDT	−0.0002%	8h	111.65	−0.072%	$245K	$61K	20x	as long as short
Aster AAOIUSDT	0.0000%	8h	111.65	−0.070%	$41K	$37K	20x	as long as short
Extended AAOI-USD	0.0000%	1h	111.62	−0.097%	$15K	$229K	10x	as long as short
Binance AAOIUSDT	0.0000%	8h	111.71	−0.022%	$15.3M	$43.0M	20x	as long as short
Bybit AAOIUSDT	0.0000%	8h	111.74	+0.009%	$1.8M	$2.7M	25x	as long as short
OKX AAOI-USDT-SWAP	0.0000%	8h	111.76	+0.027%	$4.3M	$19.1M	20x	as long as short
Gate AAOI_USDT	0.0000%	8h	111.81	+0.072%	$4.2M	$25.0M	50x	as long as short
Bitget AAOIUSDT	0.0000%	8h	111.80	+0.063%	$2.8M	$3.0M	20x	as long as short
Variational Omni AAOIshort	0.0000%	8h	112.00	+0.239%	$153K	$164K	—

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT AAOI_USDT_Perp	0.0000%	8h	112.03	+0.265%	$1K	$101K	10x	as long as short
SunX AAOI-USDT	0.0000%	8h	111.68	−0.045%	$1K	$1.3M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	112.02	+0.260%	$24K	$39K	20x	as long as short
Lighter AAOI	+0.0032%	1h	111.67	−0.054%	—	—	10x	as long as short
Popdex AAOIUSDT	+0.0048%	1h	111.74	+0.009%	$441	$109K	20x	as long as short
Paragon para:AAOI	+0.0060%	1h	111.69	−0.038%	$270K	$690K	10x	as long as short
KuCoin AAOIUSDTM	+0.0100%	8h	111.69	−0.036%	$468K	$169K	20x	as long as short
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	111.68	−0.045%	$2K	$14K	10x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	111.69	−0.038%	—	—	10x	as long as short
tradeXYZ xyz:AAOIlong	+0.0320%	1h	111.73	long leg	$2.0M	$1.4M	10x
edgeX AAOIUSDC	+0.0580%	4h	111.91	+0.160%	$13K	$263K	10x	as long as short