Funding you earn now, next payment 23:00 UTC+0.0422%/8h= +46.2% APRpaid last 24h +0.062%
Price spread now: Backpack against OKX+0.083%7-day average +0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$390.392% of the position
Funding, last 7 days+0.216%+$22 on $10k
+Price spread, last 4 days (all we have)−0.036%−$4 · spread now +0.083%, 7d avg +0.016%
=Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Backpack is 0.067% dearer against OKX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.016%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.216% in total (about 11.3% 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 | OKX AERO-USDT-SWAP | 0.6896 | 0.0100 | pay 0.0050% / 4h | 1h 16m | $2.3M | $6.8M | 20x |
| Short | Backpack AERO_USDC_PERP | 0.6902 | 0.0522 | get 0.0065% / 1h | 16m 05s | $102K | $314K | 15x |
OKX AERO-USDT-SWAP
Backpack AERO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against OKX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $88.57
- Price spread: +0.083% → +0.016%
- $6.71
- Slippage, 4 orders
- −$19.24
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $56.03
- Costs to cover
- 0.392%
- Break-even
- 2.6 days
Slippage from OKX: live order book, 2 min ago; Backpack: live order book, 2 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 OKX live order book, 2 min ago | 2.17 bp | 11.7 bp −$12 | 34.4 bp −$344 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 2 min ago | 0.36 bp | 6.1 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
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 | −0.0185% | 1h | 0.6893 | −0.044% | $55K | $11K | 10x | as long as short |
| Hyperliquid AERO | +0.0100% | 1h | 0.6896 | +0.006% | $23.2M | $5.5M | 3x | as long as short |
| Aster AEROUSDT | +0.0100% | 4h | 0.6895 | −0.013% | $39K | $109K | 10x | as long as short |
| Binance AEROUSDT | +0.0100% | 4h | 0.6895 | −0.014% | $25.5M | $25.3M | 75x | as long as short |
| Bybit AEROUSDT | +0.0100% | 4h | 0.6895 | −0.015% | $22.0M | $20.5M | 25x | as long as short |
| OKX AERO-USDT-SWAPlong | +0.0100% | 4h | 0.6896 | long leg | $2.3M | $6.8M | 20x | |
| Gate AERO_USDT | +0.0100% | 4h | 0.6897 | +0.015% | $1.6M | $533K | 75x | as long as short |
| MEXC AERO_USDT | +0.0100% | 4h | 0.6895 | −0.015% | $8.2M | $1.7M | 100x | as long as short |
| KuCoin AEROUSDTM | +0.0100% | 4h | 0.6896 | 0.000% | $2.1M | $903K | 50x | as long as short |
| Bitget AEROUSDT | +0.0100% | 4h | 0.6892 | −0.058% | $4.1M | $2.1M | 75x | as long as short |
Deribit AERO_USDC-PERPETUAL
Hyperliquid AERO
Aster AEROUSDT
Binance AEROUSDT
Bybit AEROUSDT
Gate AERO_USDT
MEXC AERO_USDT
KuCoin AEROUSDTM
Bitget AEROUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX AERO-USDT | +0.0100% | 4h | 0.6895 | −0.015% | — | $1.8M | — | as long as short |
| Variational Omni AERO | +0.0100% | 4h | 0.6907 | +0.161% | $1.9M | $1.7M | — | as long as short |
| Extended AERO-USD | +0.0104% | 1h | 0.6893 | −0.049% | $202K | $1.3M | 10x | as long as short |
| Aevo AERO-PERP | +0.0104% | 1h | 0.6895 | −0.013% | $46K | — | 3x | as long as short |
| Injective AERO/USDC PERP | +0.0175% | 1h | 0.6902 | +0.087% | $4 | $209K | 5.5x | as long as short |
| 01 Exchange AEROUSD | +0.0216% | 1h | 0.6901 | +0.074% | $187 | $115 | 3x | as long as short |
| Reya AERORUSDPERP | +0.0228% | 1h | 0.6894 | −0.027% | $19K | $4K | 15x | as long as short |
| BloFin AERO-USDT | +0.0340% | 4h | 0.6901 | +0.073% | $913K | $695K | 25x | as long as short |
| GMX AERO/USD [ETH-USDC] | L +0.0502% / S −0.0223% | 1h | 0.6896 | −0.005% | $92K | — | 100x | as long as short |
| Backpack AERO_USDC_PERPshort | +0.0522% | 1h | 0.6902 | +0.083% | $102K | $314K | 15x | |
| RISEx AERO/USDC | +0.0676% | 1h | 0.6901 | +0.068% | $213K | $367K | 3x | as long as short |
| Coinbase International AERO-PERP-INTX | +0.0736% | 1h | 0.6912 | +0.232% | $92K | $32K | 25x | as long as short |
| Lighter AERO | +0.0872% | 1h | 0.6911 | +0.213% | $1.3M | $464K | 3x | as long as short |
BingX AERO-USDT
Variational Omni AERO
Extended AERO-USD
Aevo AERO-PERP
Injective AERO/USDC PERP
01 Exchange AEROUSD
Reya AERORUSDPERP
BloFin AERO-USDT
GMX AERO/USD [ETH-USDC]
RISEx AERO/USDC
Coinbase International AERO-PERP-INTX
Lighter AERO