Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0404%/8h= −44.2% APRpaid last 24h −0.115%

Price spread now: OKX against GMX+0.122%7-day average — · you sell dearer than you buy

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

Long on GMX Short on OKX

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—needs both histories

The price spread pays, funding is against you. OKX is 0.122% dearer against GMX than usual: you sell high and buy low (spread +0.122% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AERO/USD [ETH-USDC]	0.6779	L +0.0504% / S −0.0237%	pay 0.0063% / 1h	26m 45s	$88K	—	100x
Short	OKX AERO-USDT-SWAP	0.6787	0.0100	get 0.0050% / 4h	2h 26m	$2.2M	$5.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against GMX. 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 GMXbpFee OKXbpOrdersPrice spread, now +0.122%Rate

Funding earned: −$84.78
Price spread: +0.122% → 0.000%: $12.24
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$94.53
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: live order book, 1 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 GMX no order-book sample	—	—	—	—	—
Sell OKX live order book, 1 min ago	0.74 bp	15.8 bp −$16	35.0 bp −$350	doesn't fit	doesn't fit

GMX: 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	0.0000%	1h	0.6780	+0.019%	$54K	$11K	10x	as long as short
Injective AERO/USDC PERP	+0.0033%	1h	0.6902	+1.819%	$4	$209K	5.5x	as long as short
Hyperliquid AERO	+0.0100%	1h	0.6787	+0.117%	$22.4M	$5.3M	3x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6787	+0.121%	$40K	$124K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6786	+0.100%	$25.6M	$25.1M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.6785	+0.093%	$22.0M	$18.1M	25x	as long as short
OKX AERO-USDT-SWAPshort	+0.0100%	4h	0.6787	+0.122%	$2.2M	$5.8M	20x
Gate AERO_USDT	+0.0100%	4h	0.6781	+0.034%	$1.6M	$473K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.6785	+0.093%	$8.3M	$1.6M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.6781	+0.034%	$2.0M	$1.1M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AEROUSDT	+0.0100%	4h	0.6779	+0.004%	$3.9M	$1.8M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.6783	+0.063%	—	$1.8M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6783	+0.070%	$1.9M	$1.2M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6781	+0.039%	$200K	$1.4M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6780	+0.023%	$46K	—	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.6779	+0.011%	$19K	$4K	15x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6787	+0.122%	$925K	$588K	25x	as long as short
01 Exchange AEROUSD	+0.0352%	1h	0.6786	+0.111%	$184	$101	3x	as long as short
Backpack AERO_USDC_PERP	+0.0364%	1h	0.6788	+0.131%	$92K	$260K	15x	as long as short
RISEx AERO/USDC	+0.0382%	1h	0.6788	+0.145%	$196K	$489K	3x	as long as short
Lighter AERO	+0.0424%	1h	0.6795	+0.240%	$1.3M	$507K	3x	as long as short
GMX AERO/USD [ETH-USDC]long	L +0.0504% / S −0.0237%	1h	0.6779	long leg	$88K	—	100x
Coinbase International AERO-PERP-INTX	+0.1984%	1h	0.6791	+0.181%	$88K	$34K	25x	as long as short