Funding you earn now, next payment 09:00 UTC−0.0534%/8h= −58.5% APRpaid last 24h −0.134%
Price spread now: BingX against Backpack+0.010%7-day average −0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$440.440% of the position
Funding, last 7 days−0.307%−$31 on $10k
+Price spread, last 4 days (all we have)−0.033%−$3 · spread now +0.010%, 7d avg −0.045%
=The price spread pays, funding is against you. BingX is 0.055% dearer against Backpack than usual: you sell high and buy low (spread +0.010% now, against its 7-day average of −0.045%): +$5 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.307% in total) that is about 30 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.307% in total (about -16.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack AERO_USDC_PERP | 0.6901 | 0.0634 | pay 0.0079% / 1h | 54m 48s | $95K | $261K | 15x |
| Short | BingX AERO-USDT | 0.6902 | 0.0100 | get 0.0050% / 4h | 3h 54m | — | $1.8M | — |
Backpack AERO_USDC_PERP
BingX AERO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$112.12
- Price spread: +0.010% → −0.045%
- $5.5
- Slippage, 4 orders
- −$23.99
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$150.61
- Costs to cover
- 0.440%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 43 min ago; BingX: live order book, 8 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 Backpack live order book, 43 min ago | 0.07 bp | 5.5 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 8 min ago | 2.91 bp | 15.0 bp −$15 | 24.2 bp −$242 | 246.3 bp −$24.6K | 795.6 bp −$397.8K |
AERO on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International AERO-PERP-INTX | −0.0280% | 1h | 0.6899 | −0.033% | $88K | $39K | 25x | as long as short |
| Injective AERO/USDC PERP | +0.0033% | 1h | 0.6902 | +0.010% | $4 | $209K | 5.5x | as long as short |
| Aster AEROUSDT | +0.0100% | 4h | 0.6902 | +0.005% | $42K | $127K | 10x | as long as short |
| Binance AEROUSDT | +0.0100% | 4h | 0.6904 | +0.039% | $26.0M | $25.1M | 75x | as long as short |
| Bybit AEROUSDT | +0.0100% | 4h | 0.6901 | −0.004% | $22.5M | $18.0M | 25x | as long as short |
| OKX AERO-USDT-SWAP | +0.0100% | 4h | 0.6907 | +0.083% | $2.3M | $5.8M | 20x | as long as short |
| Gate AERO_USDT | +0.0100% | 4h | 0.6899 | −0.033% | $1.6M | $462K | 75x | as long as short |
| MEXC AERO_USDT | +0.0100% | 4h | 0.6904 | +0.039% | $8.5M | $1.4M | 100x | as long as short |
| KuCoin AEROUSDTM | +0.0100% | 4h | 0.6901 | −0.004% | $2.0M | $1.1M | 50x | as long as short |
| Bitget AEROUSDT | +0.0100% | 4h | 0.6902 | +0.010% | $4.0M | $1.9M | 75x | as long as short |
Coinbase International AERO-PERP-INTX
Injective AERO/USDC PERP
Aster AEROUSDT
Binance AEROUSDT
Bybit AEROUSDT
OKX AERO-USDT-SWAP
Gate AERO_USDT
MEXC AERO_USDT
KuCoin AEROUSDTM
Bitget AEROUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX AERO-USDTshort | +0.0100% | 4h | 0.6902 | +0.010% | — | $1.8M | — | |
| Variational Omni AERO | +0.0100% | 4h | 0.6895 | −0.086% | $2.0M | $1.2M | — | as long as short |
| Extended AERO-USD | +0.0104% | 1h | 0.6903 | +0.029% | $208K | $1.4M | 10x | as long as short |
| Aevo AERO-PERP | +0.0104% | 1h | 0.6887 | −0.207% | $46K | — | 3x | as long as short |
| Deribit AERO_USDC-PERPETUAL | +0.0186% | 1h | 0.6889 | −0.178% | $55K | $11K | 10x | as long as short |
| Reya AERORUSDPERP | +0.0228% | 1h | 0.6889 | −0.179% | $19K | $4K | 15x | as long as short |
| BloFin AERO-USDT | +0.0340% | 4h | 0.6891 | −0.149% | $896K | $577K | 25x | as long as short |
| 01 Exchange AEROUSD | +0.0456% | 1h | 0.6893 | −0.126% | $187 | $101 | 3x | as long as short |
| RISEx AERO/USDC | +0.0503% | 1h | 0.6887 | −0.205% | $201K | $548K | 3x | as long as short |
| GMX AERO/USD [ETH-USDC] | L +0.0518% / S −0.0255% | 1h | 0.6887 | −0.207% | $90K | — | 100x | as long as short |
| Backpack AERO_USDC_PERPlong | +0.0634% | 1h | 0.6901 | long leg | $95K | $261K | 15x | |
| Hyperliquid AERO | +0.0747% | 1h | 0.6915 | +0.191% | $22.8M | $5.4M | 3x | as long as short |
| Lighter AERO | +0.1232% | 1h | 0.6916 | +0.209% | $1.3M | $385K | 3x | as long as short |
Variational Omni AERO
Extended AERO-USD
Aevo AERO-PERP
Deribit AERO_USDC-PERPETUAL
Reya AERORUSDPERP
BloFin AERO-USDT
01 Exchange AEROUSD
RISEx AERO/USDC
GMX AERO/USD [ETH-USDC]
Hyperliquid AERO
Lighter AERO