Funding arb · Price arb /

AERO

all AERO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.148%

Price spread now: KuCoin against Backpack−0.093%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$900.905% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.363%−$36 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now −0.093%, 7d avg −0.025%

Together, before fees−0.343%−$34 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and KuCoin is 0.068% cheaper against Backpack than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AERO_USDC_PERP	0.7009	0.0339	pay 0.0042% / 1h	5m 23s	$97K	$245K	15x
Short	KuCoin AEROUSDTM	0.7003	0.0100	get 0.0050% / 4h	1h 05m	$1.9M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Backpack. 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 BackpackbpFee KuCoinbpOrdersPrice spread, now −0.093%Rate

Funding earned: −$50.18
Price spread: −0.093% → −0.025%: −$6.77
Slippage, 4 orders: −$68.46
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$147.41
Costs to cover: 0.905%
Break-even: never at this rate

Slippage from Backpack: live order book, 41 min ago; KuCoin: 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 Backpack live order book, 41 min ago	0.07 bp	5.8 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	2.86 bp	33.8 bp −$34	247.5 bp −$2,475	doesn't fit	doesn't fit

AERO on 23 exchanges

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 AERO-USDT	−0.0200%	4h	0.6998	−0.164%	$976K	$641K	25x	as long as short
Deribit AERO_USDC-PERPETUAL	0.0000%	1h	0.7004	−0.078%	$56K	—	10x	as long as short
Injective AERO/USDC PERP	+0.0033%	1h	0.6902	−1.534%	$4	$209K	5.5x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.7003	−0.097%	$42K	$105K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.7006	−0.052%	$26.6M	$25.2M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.7001	−0.121%	$23.1M	$17.9M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.7006	−0.050%	$2.4M	$5.5M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.7001	−0.121%	$1.7M	$491K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.7004	−0.078%	$8.6M	$1.5M	100x	as long as short
KuCoin AEROUSDTMshort	+0.0100%	4h	0.7003	−0.093%	$1.9M	$1.3M	50x

Show all 23 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AEROUSDT	+0.0100%	4h	0.7002	−0.107%	$4.1M	$2.0M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.7003	−0.093%	—	$1.8M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.7001	−0.126%	$1.9M	$865K	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.7002	−0.107%	$225K	$1.4M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.7000	−0.132%	$47K	—	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.7004	−0.084%	$20K	$4K	15x	as long as short
Backpack AERO_USDC_PERPlong	+0.0339%	1h	0.7009	long leg	$97K	$245K	15x
RISEx AERO/USDC	+0.0502%	1h	0.7005	−0.063%	$211K	$599K	3x	as long as short
01 Exchange AEROUSD	+0.0504%	1h	0.7012	+0.036%	$190	$101	3x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0514% / S −0.0235%	1h	0.7002	−0.114%	$93K	—	100x	as long as short
Hyperliquid AERO	+0.0802%	1h	0.7015	+0.076%	$23.2M	$5.9M	3x	as long as short
Lighter AERO	+0.1016%	1h	0.7018	+0.124%	$1.3M	$400K	3x	as long as short
Coinbase International AERO-PERP-INTX	+0.2200%	1h	0.6701	−4.401%	$83K	$38K	25x	as long as short