Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h +0.054%

Price spread now: Reya against Bybit−0.027%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.027% cheaper against Bybit than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 17 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AEROUSDT	0.6907	0.0100	pay 0.0050% / 4h	1h 24m	$22.1M	$20.5M	25x
Short	Reya AERORUSDPERP	0.6905	0.0228	get 0.0029% / 1h	24m 11s	$19K	$4K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.027%Rate

Funding earned: $26.92
Price spread: −0.027% → 0.000%: −$2.72
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Reya: 3 bp × 2 orders: −$6
Net: $7.2
Costs to cover: 0.170%
Break-even: 5.1 days

Slippage unknown: Bybit: live order book, 4 min ago; Reya: 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, 4 min ago	1.45 bp	13.1 bp −$13	34.8 bp −$348	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 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
Deribit AERO_USDC-PERPETUAL	−0.0040%	1h	0.6906	−0.014%	$55K	$11K	10x	as long as short
Hyperliquid AERO	+0.0100%	1h	0.6909	+0.035%	$23.2M	$5.5M	3x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6903	−0.060%	$39K	$110K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6904	−0.048%	$25.6M	$25.4M	75x	as long as short
Bybit AEROUSDTlong	+0.0100%	4h	0.6907	long leg	$22.1M	$20.5M	25x
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6905	−0.029%	$2.3M	$6.8M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6901	−0.087%	$1.6M	$532K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.6903	−0.058%	$8.2M	$1.7M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.6902	−0.072%	$2.1M	$906K	50x	as long as short
Bitget AEROUSDT	+0.0100%	4h	0.6902	−0.072%	$4.1M	$2.2M	75x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AERO-USDT	+0.0100%	4h	0.6907	0.000%	—	$1.8M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6881	−0.382%	$1.9M	$1.7M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6904	−0.041%	$202K	$1.3M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6905	−0.022%	$46K	—	3x	as long as short
Injective AERO/USDC PERP	+0.0175%	1h	0.6902	−0.072%	$4	$209K	5.5x	as long as short
01 Exchange AEROUSD	+0.0216%	1h	0.6909	+0.028%	$187	$115	3x	as long as short
Reya AERORUSDPERPshort	+0.0228%	1h	0.6905	−0.027%	$19K	$4K	15x
BloFin AERO-USDT	+0.0340%	4h	0.6889	−0.261%	$914K	$694K	25x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0502% / S −0.0223%	1h	0.6905	−0.034%	$92K	—	100x	as long as short
Backpack AERO_USDC_PERP	+0.0514%	1h	0.6913	+0.087%	$102K	$314K	15x	as long as short
RISEx AERO/USDC	+0.0676%	1h	0.6909	+0.030%	$214K	$368K	3x	as long as short
Coinbase International AERO-PERP-INTX	+0.0736%	1h	0.6885	−0.319%	$91K	$32K	25x	as long as short
Lighter AERO	+0.0912%	1h	0.6921	+0.200%	$1.3M	$464K	3x	as long as short