Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h —

Price spread now: Bybit against Lighter+0.144%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Bybit is 0.144% dearer against Lighter than usual: you sell high and buy low (spread +0.144% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAOI	111.12	0.0032	pay 0.0004% / 1h	12m 56s	—	—	10x
Short	Bybit AAOIUSDT	111.28	0	get 0.0000% / 8h	12m 56s	$1.8M	$2.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now +0.144%Rate

Funding earned: −$6.72
Price spread: +0.144% → 0.000%: $14.4
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$3.32
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; Bybit: live order book, 4 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 Lighter no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	2.24 bp	12.9 bp −$13	90.9 bp −$909	doesn't fit	doesn't fit

Lighter: 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.

AAOI on 21 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
QFEX AAOI-USD	−0.0011%	1h	111.15	+0.027%	$1.1M	$2.6M	10x	as long as short
Aster AAOIUSDT	0.0000%	8h	111.21	+0.083%	$41K	$37K	20x	as long as short
Extended AAOI-USD	0.0000%	1h	111.29	+0.152%	$17K	$209K	10x	as long as short
Binance AAOIUSDT	0.0000%	8h	111.29	+0.153%	$15.3M	$43.7M	20x	as long as short
Bybit AAOIUSDTshort	0.0000%	8h	111.28	+0.144%	$1.8M	$2.8M	25x
OKX AAOI-USDT-SWAP	0.0000%	8h	111.33	+0.189%	$4.3M	$19.3M	20x	as long as short
Gate AAOI_USDT	0.0000%	8h	111.29	+0.153%	$4.2M	$30.8M	50x	as long as short
Bitget AAOIUSDT	0.0000%	8h	111.28	+0.144%	$2.8M	$3.2M	20x	as long as short
Variational Omni AAOI	0.0000%	8h	111.63	+0.458%	$153K	$167K	—	as long as short
GRVT AAOI_USDT_Perp	0.0000%	8h	111.61	+0.441%	$554	$107K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX AAOI-USDT	0.0000%	8h	111.28	+0.144%	$899	$1.3M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	111.11	−0.009%	$24K	$38K	20x	as long as short
BloFin AAOI-USDT	+0.0023%	8h	111.24	+0.108%	$243K	$68K	20x	as long as short
Lighter AAOIlong	+0.0032%	1h	111.12	long leg	—	—	10x
Popdex AAOIUSDT	+0.0048%	1h	111.27	+0.135%	$1K	$110K	20x	as long as short
tradeXYZ xyz:AAOI	+0.0050%	1h	111.19	+0.063%	$2.0M	$1.4M	10x	as long as short
Paragon para:AAOI	+0.0060%	1h	111.22	+0.086%	$277K	$697K	10x	as long as short
KuCoin AAOIUSDTM	+0.0100%	8h	111.20	+0.072%	$466K	$185K	20x	as long as short
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	111.21	+0.081%	$2K	$13K	10x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	111.23	+0.098%	—	—	10x	as long as short
edgeX AAOIUSDC	+0.0160%	4h	111.40	+0.254%	$13K	$264K	10x	as long as short