Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.113%

Price spread now: Variational Omni against Paragon+0.015%7-day average +0.043% · you sell dearer than you buy

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

Long on Paragon Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.031%−$3 on $10k

Price spread, last 4 days (all we have)+0.396%+$40 · spread now +0.015%, 7d avg +0.043%

Together, before fees+0.365%+ Points / potential airdropVariational Omni: Active · farm board+$37 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 Variational Omni is 0.028% cheaper against Paragon than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.043%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:AAOI	111.66	0.0060	pay 0.0008% / 1h	7m 46s	$238K	$718K	10x
Short	Variational Omni AAOI	111.67	0	get 0.0000% / 8h	4h 07m	$153K	$131K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.015%Rate

Funding earned: −$12.6
Price spread: +0.015% → +0.043%: −$2.79
Slippage, 4 orders: no order book: not counted
Fee Paragon: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$25.39
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Paragon: live order book, 18 min ago; Variational Omni: RFQ quote, 51 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, 18 min ago	1.34 bp	6.4 bp −$6	95.7 bp −$957	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 51 min ago	5.19 bp	doesn't fit	58.3 bp −$583	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	−0.023%	$41K	$37K	20x	as long as short
Extended AAOI-USD	0.0000%	1h	111.66	−0.001%	$15K	$213K	10x	as long as short
Binance AAOIUSDT	0.0000%	8h	111.69	+0.027%	$15.1M	$42.0M	20x	as long as short
Gate AAOI_USDT	0.0000%	8h	111.72	+0.056%	$4.1M	$13.1M	50x	as long as short
Bitget AAOIUSDT	0.0000%	8h	111.71	+0.047%	$2.8M	$3.0M	20x	as long as short
Variational Omni AAOIshort	0.0000%	8h	111.67	+0.015%	$153K	$131K	—
SunX AAOI-USDT	0.0000%	8h	111.75	+0.082%	$1K	$1.2M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	111.51	−0.133%	$24K	$43K	20x	as long as short
GRVT AAOI_USDT_Perp	+0.0008%	8h	111.70	+0.035%	$671	$104K	10x	as long as short
BloFin AAOI-USDT	+0.0024%	8h	111.75	+0.082%	$266K	$64K	20x	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	+0.002%	—	—	10x	as long as short
Popdex AAOIUSDT	+0.0048%	1h	111.66	+0.002%	$1K	$109K	20x	as long as short
QFEX AAOI-USD	+0.0053%	1h	111.65	−0.007%	$1.1M	$2.1M	10x	as long as short
Paragon para:AAOIlong	+0.0060%	1h	111.66	long leg	$238K	$718K	10x
KuCoin AAOIUSDTM	+0.0100%	8h	111.73	+0.064%	$468K	$178K	20x	as long as short
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	111.67	+0.011%	$2K	$13K	10x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	111.65	−0.004%	—	—	10x	as long as short
Bybit AAOIUSDT	+0.0122%	8h	111.67	+0.011%	$1.8M	$2.6M	25x	as long as short
OKX AAOI-USDT-SWAP	+0.0235%	8h	111.75	+0.082%	$4.8M	$19.5M	20x	as long as short
tradeXYZ xyz:AAOI	+0.0310%	1h	111.67	+0.011%	$2.0M	$1.3M	10x	as long as short
edgeX AAOIUSDC	+0.0470%	4h	111.69	+0.026%	$13K	$263K	10x	as long as short