Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h +0.013%

Price spread now: Popdex against OKX−0.098%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$710.709% of the position

Long on OKX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.165%−$16 on $10k

Price spread, last 4 days (all we have)+0.234%+$23 · spread now −0.098%, 7d avg −0.003%

Together, before fees+0.070%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Popdex is 0.096% cheaper against OKX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AAOI-USDT-SWAP	111.81	0.0121	pay 0.0121% / 8h	4h 34m	$4.7M	$19.4M	20x
Short	Popdex AAOIUSDT	111.70	0.0048	get 0.0006% / 1h	34m 15s	$1K	$109K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against OKX. 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 OKXbpFee PopdexbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$15.3
Price spread: −0.098% → −0.003%: −$9.55
Slippage, 4 orders: −$54.54
Fee OKX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$95.79
Costs to cover: 0.709%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Popdex: live order book, 24 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, 4 min ago	0.45 bp	8.5 bp −$9	48.2 bp −$482	doesn't fit	doesn't fit
Sell Popdex live order book, 24 min ago	2.68 bp	23.0 bp −$23	doesn't fit	doesn't fit	doesn't fit

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
Aster AAOIUSDT	0.0000%	8h	111.65	−0.140%	$41K	$37K	20x	as long as short
Extended AAOI-USD	0.0000%	1h	111.68	−0.116%	$17K	$211K	10x	as long as short
Binance AAOIUSDT	0.0000%	8h	111.69	−0.106%	$15.2M	$41.9M	20x	as long as short
Gate AAOI_USDT	0.0000%	8h	111.73	−0.072%	$4.0M	$13.0M	50x	as long as short
Bitget AAOIUSDT	0.0000%	8h	111.69	−0.107%	$2.8M	$3.0M	20x	as long as short
Variational Omni AAOI	0.0000%	8h	111.80	−0.009%	$153K	$131K	—	as long as short
GRVT AAOI_USDT_Perp	0.0000%	8h	111.78	−0.027%	$753	$103K	10x	as long as short
SunX AAOI-USDT	0.0000%	8h	111.73	−0.072%	$959	$1.2M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	111.77	−0.036%	$24K	$42K	20x	as long as short
BloFin AAOI-USDT	+0.0018%	8h	111.69	−0.107%	$261K	$63K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paragon para:AAOI	+0.0019%	1h	111.70	−0.098%	$239K	$717K	10x	as long as short
Lighter AAOI	+0.0032%	1h	111.71	−0.089%	—	—	10x	as long as short
Popdex AAOIUSDTshort	+0.0048%	1h	111.70	−0.098%	$1K	$109K	20x
QFEX AAOI-USD	+0.0053%	1h	111.69	−0.107%	$1.1M	$2.2M	10x	as long as short
Bybit AAOIUSDT	+0.0076%	8h	111.75	−0.054%	$1.8M	$2.6M	25x	as long as short
KuCoin AAOIUSDTM	+0.0100%	8h	111.77	−0.036%	$467K	$175K	20x	as long as short
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	111.68	−0.116%	$2K	$13K	10x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	111.69	−0.110%	—	—	10x	as long as short
OKX AAOI-USDT-SWAPlong	+0.0121%	8h	111.81	long leg	$4.7M	$19.4M	20x
tradeXYZ xyz:AAOI	+0.0239%	1h	111.67	−0.125%	$2.0M	$1.4M	10x	as long as short
edgeX AAOIUSDC	+0.0502%	4h	111.80	−0.007%	$13K	$264K	10x	as long as short