Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.081%

Price spread now: Paragon against Orderly+0.167%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 5 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. Paragon is 0.167% dearer against Orderly than usual: you sell high and buy low (spread +0.167% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AAOI_USDC_mythos	111.56	0.0100	pay 0.0100% / 8h	7h 00m	$2K	$14K	10x
Short	Paragon para:AAOI	111.75	0.0060	get 0.0008% / 1h	0m 24s	$270K	$686K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon against Orderly. 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 OrderlybpFee ParagonbpOrdersPrice spread, now +0.167%Rate

Funding earned: −$8.4
Price spread: +0.167% → 0.000%: $16.7
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Paragon: 5 bp × 2 orders: −$10
Net: −$7.7
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Paragon: live order book, 55 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 Orderly no order-book sample	—	—	—	—	—
Sell Paragon live order book, 55 min ago	5.35 bp	41.7 bp −$42	147.7 bp −$1,477	doesn't fit	doesn't fit

Orderly: 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	−0.0006%	1h	111.55	−0.009%	$1.1M	$2.5M	10x	as long as short
BloFin AAOI-USDT	0.0000%	8h	111.65	+0.081%	$247K	$62K	20x	as long as short
Aster AAOIUSDT	0.0000%	8h	111.58	+0.016%	$41K	$37K	20x	as long as short
Extended AAOI-USD	0.0000%	1h	111.57	+0.010%	$15K	$203K	10x	as long as short
Binance AAOIUSDT	0.0000%	8h	111.60	+0.034%	$15.2M	$42.8M	20x	as long as short
Bybit AAOIUSDT	0.0000%	8h	111.66	+0.090%	$1.8M	$2.6M	25x	as long as short
OKX AAOI-USDT-SWAP	0.0000%	8h	111.67	+0.099%	$4.4M	$19.2M	20x	as long as short
Gate AAOI_USDT	0.0000%	8h	111.64	+0.072%	$4.1M	$25.1M	50x	as long as short
Bitget AAOIUSDT	0.0000%	8h	111.66	+0.090%	$2.8M	$3.0M	20x	as long as short
Variational Omni AAOI	0.0000%	8h	111.59	+0.027%	$153K	$164K	—	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT AAOI_USDT_Perp	0.0000%	8h	111.80	+0.217%	$324	$100K	10x	as long as short
SunX AAOI-USDT	0.0000%	8h	111.55	−0.009%	$1K	$1.2M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	111.48	−0.072%	$24K	$39K	20x	as long as short
Lighter AAOI	+0.0032%	1h	111.65	+0.081%	—	—	10x	as long as short
Popdex AAOIUSDT	+0.0048%	1h	111.61	+0.045%	$441	$108K	20x	as long as short
Paragon para:AAOIshort	+0.0060%	1h	111.75	+0.167%	$270K	$686K	10x
edgeX AAOIUSDC	+0.0090%	4h	111.58	+0.021%	$13K	$264K	10x	as long as short
KuCoin AAOIUSDTM	+0.0100%	8h	111.59	+0.027%	$468K	$164K	20x	as long as short
Orderly PERP_AAOI_USDC_mythoslong	+0.0100%	8h	111.56	long leg	$2K	$14K	10x
Aevo AAOI-PERP	+0.0104%	1h	111.55	−0.007%	—	—	10x	as long as short
tradeXYZ xyz:AAOI	+0.0273%	1h	111.59	+0.027%	$2.0M	$1.4M	10x	as long as short