Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h −0.113%

Price spread now: Bybit against Paragon+0.045%7-day average +0.032% · you sell dearer than you buy

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

Long on Paragon Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.045%, 7d avg +0.032%

Together, before fees−0.139%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.077%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:AAOI	111.60	0.0060	pay 0.0008% / 1h	9m 22s	$238K	$718K	10x
Short	Bybit AAOIUSDT	111.65	0.0124	get 0.0124% / 8h	4h 09m	$1.8M	$2.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Paragon. 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 ParagonbpFee BybitbpOrdersPrice spread, now +0.045%Rate

Funding earned: $13.47
Price spread: +0.045% → +0.032%: $1.26
Slippage, 4 orders: no order book: not counted
Fee Paragon: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$6.27
Costs to cover: 0.210%
Break-even: 10.3 days

Slippage unknown: Paragon: live order book, 16 min ago; Bybit: live order book, 3 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 Paragon live order book, 16 min ago	1.34 bp	6.4 bp −$6	95.7 bp −$957	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.69 bp	17.9 bp −$18	98.7 bp −$987	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	111.63	+0.031%	$41K	$37K	20x	as long as short
Extended AAOI-USD	0.0000%	1h	111.72	+0.104%	$15K	$213K	10x	as long as short
Binance AAOIUSDT	0.0000%	8h	111.74	+0.129%	$15.1M	$42.0M	20x	as long as short
Gate AAOI_USDT	0.0000%	8h	111.76	+0.143%	$4.1M	$13.1M	50x	as long as short
Bitget AAOIUSDT	0.0000%	8h	111.75	+0.134%	$2.8M	$3.0M	20x	as long as short
Variational Omni AAOI	0.0000%	8h	111.67	+0.067%	$153K	$131K	—	as long as short
SunX AAOI-USDT	0.0000%	8h	111.75	+0.134%	$1K	$1.2M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	111.64	+0.036%	$24K	$43K	20x	as long as short
BloFin AAOI-USDT	+0.0004%	8h	111.68	+0.072%	$266K	$64K	20x	as long as short
GRVT AAOI_USDT_Perp	+0.0008%	8h	111.70	+0.087%	$671	$104K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAOI	+0.0032%	1h	111.66	+0.054%	—	—	10x	as long as short
Popdex AAOIUSDT	+0.0048%	1h	111.77	+0.152%	$1K	$109K	20x	as long as short
QFEX AAOI-USD	+0.0053%	1h	111.75	+0.134%	$1.1M	$2.1M	10x	as long as short
Paragon para:AAOIlong	+0.0060%	1h	111.60	long leg	$238K	$718K	10x
KuCoin AAOIUSDTM	+0.0100%	8h	111.72	+0.108%	$467K	$178K	20x	as long as short
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	111.70	+0.090%	$2K	$13K	10x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	111.70	+0.086%	—	—	10x	as long as short
Bybit AAOIUSDTshort	+0.0124%	8h	111.65	+0.045%	$1.8M	$2.6M	25x
OKX AAOI-USDT-SWAP	+0.0236%	8h	111.81	+0.188%	$4.8M	$19.5M	20x	as long as short
tradeXYZ xyz:AAOI	+0.0311%	1h	111.69	+0.081%	$2.0M	$1.3M	10x	as long as short
edgeX AAOIUSDC	+0.0470%	4h	111.69	+0.078%	$13K	$263K	10x	as long as short