Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0676%/8h= −74.0% APRpaid last 24h −0.218%

Price spread now: Bitget against Paragon+0.087%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$970.968% of the position

Long on Paragon Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)−0.035%−$3 · spread now +0.087%, 7d avg +0.026%

Together, before fees−0.145%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.061% dearer against Paragon than usual: you sell high and buy low (spread +0.087% now, against its 7-day average of +0.026%): +$6 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.111% in total) that is about 3.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.111% in total (about -5.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:AAOI	109.11	0.0353	pay 0.0044% / 1h	43m 39s	$228K	$720K	10x
Short	Bitget AAOIUSDT	109.20	−0.0323	pay 0.0323% / 8h	5h 43m	$3.3M	$4.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Paragon. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ParagonbpFee BitgetbpOrdersPrice spread, now +0.087%Rate

Funding earned: −$141.94
Price spread: +0.087% → +0.026%: $6.12
Slippage, 4 orders: −$74.78
Fee Paragon: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$232.61
Costs to cover: 0.968%
Break-even: never at this rate

Slippage from Paragon: live order book, 58 min ago; Bitget: 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 Paragon live order book, 58 min ago	3.25 bp	24.0 bp −$24	64.3 bp −$643	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	1.83 bp	21.6 bp −$22	28.3 bp −$283	102.7 bp −$10.3K	doesn't fit

AAOI on 21 exchanges

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
Bitget AAOIUSDTshort	−0.0323%	8h	109.20	+0.087%	$3.3M	$4.3M	20x
Aster AAOIUSDT	0.0000%	8h	109.12	+0.014%	$40K	$43K	20x	as long as short
Bybit AAOIUSDT	0.0000%	8h	109.13	+0.023%	$1.8M	$3.0M	25x	as long as short
Gate AAOI_USDT	0.0000%	8h	109.14	+0.032%	$3.8M	$12.7M	50x	as long as short
SunX AAOI-USDT	0.0000%	8h	109.07	−0.032%	$1K	$1.1M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	109.18	+0.069%	$24K	$47K	20x	as long as short
QFEX AAOI-USD	+0.0031%	1h	109.04	−0.060%	$1.1M	$1.8M	10x	as long as short
Lighter AAOI	+0.0032%	1h	109.09	−0.014%	—	—	10x	as long as short
Popdex AAOIUSDT	+0.0048%	1h	109.13	+0.023%	$981	$109K	20x	as long as short
tradeXYZ xyz:AAOI	+0.0068%	1h	108.99	−0.105%	$1.9M	$1.7M	10x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	109.07	−0.032%	$1K	$14K	10x	as long as short
KuCoin AAOIUSDTM	+0.0100%	8h	108.98	−0.115%	$449K	$365K	20x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	109.09	−0.016%	—	—	10x	as long as short
Variational Omni AAOI	+0.0118%	8h	109.16	+0.052%	$117K	$156K	—	as long as short
OKX AAOI-USDT-SWAP	+0.0210%	8h	109.14	+0.032%	$4.8M	$22.4M	20x	as long as short
BloFin AAOI-USDT	+0.0252%	8h	109.19	+0.078%	$272K	$75K	20x	as long as short
Binance AAOIUSDT	+0.0253%	8h	109.12	+0.014%	$14.8M	$49.8M	20x	as long as short
Extended AAOI-USD	+0.0256%	1h	109.10	−0.002%	$14K	$238K	10x	as long as short
Paragon para:AAOIlong	+0.0353%	1h	109.11	long leg	$228K	$720K	10x
edgeX AAOIUSDC	+0.0596%	4h	108.98	−0.112%	$12K	$265K	10x	as long as short
GRVT AAOI_USDT_Perp	+0.0775%	8h	109.13	+0.019%	$806	$110K	10x	as long as short