Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.021%

Price spread now: Deribit against Bybit+0.043%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Deribit is 0.043% dearer against Bybit than usual: you sell high and buy low (spread +0.043% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AEROUSDT	0.7001	0.0100	pay 0.0050% / 4h	1h 05m	$23.1M	$17.9M	25x
Short	Deribit AERO_USDC-PERPETUAL	0.7004	0	get 0.0000% / 1h	5m 39s	$56K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$21
Price spread: +0.043% → 0.000%: $4.29
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$34.71
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; Deribit: 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 Bybit live order book, 1 min ago	0.71 bp	11.5 bp −$12	28.9 bp −$289	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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.

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	−0.043%	$976K	$641K	25x	as long as short
Deribit AERO_USDC-PERPETUALshort	0.0000%	1h	0.7004	+0.043%	$56K	—	10x
Injective AERO/USDC PERP	+0.0033%	1h	0.6902	−1.414%	$4	$209K	5.5x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.7003	+0.033%	$42K	$105K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.7005	+0.057%	$26.6M	$25.2M	75x	as long as short
Bybit AEROUSDTlong	+0.0100%	4h	0.7001	long leg	$23.1M	$17.9M	25x
OKX AERO-USDT-SWAP	+0.0100%	4h	0.7006	+0.071%	$2.4M	$5.5M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.7001	0.000%	$1.7M	$491K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.7005	+0.057%	$8.6M	$1.5M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.7003	+0.029%	$1.9M	$1.3M	50x	as long as short

Show all 23 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AEROUSDT	+0.0100%	4h	0.7003	+0.029%	$4.1M	$2.0M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.7004	+0.043%	—	$1.8M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.7001	−0.005%	$1.9M	$865K	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.7002	+0.014%	$225K	$1.4M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.7000	−0.011%	$47K	—	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.7004	+0.038%	$20K	$4K	15x	as long as short
Backpack AERO_USDC_PERP	+0.0339%	1h	0.7009	+0.121%	$97K	$245K	15x	as long as short
RISEx AERO/USDC	+0.0502%	1h	0.7005	+0.058%	$211K	$599K	3x	as long as short
01 Exchange AEROUSD	+0.0504%	1h	0.7012	+0.157%	$190	$101	3x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0514% / S −0.0235%	1h	0.7002	+0.007%	$93K	—	100x	as long as short
Hyperliquid AERO	+0.0802%	1h	0.7017	+0.223%	$23.2M	$5.9M	3x	as long as short
Lighter AERO	+0.1016%	1h	0.7018	+0.246%	$1.3M	$400K	3x	as long as short
Coinbase International AERO-PERP-INTX	+0.2200%	1h	0.6701	−4.285%	$83K	$38K	25x	as long as short