Funding arb · Price arb /

AERO

all AERO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0622%/8h= −68.1% APRpaid last 24h −0.134%

Price spread now: Gate against Backpack−0.152%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$750.747% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.353%−$35 on $10k

Price spread, last 4 days (all we have)+0.154%+$15 · spread now −0.152%, 7d avg −0.078%

Together, before fees−0.199%−$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Gate is 0.074% cheaper against Backpack than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.078%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.353% in total (about -18.4% 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	0.6905	0.0722	pay 0.0090% / 1h	41m 06s	$93K	$260K	15x
Short	Gate AERO_USDT	0.6895	0.0100	get 0.0050% / 4h	41m 06s	$1.6M	$477K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Backpack. 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 BackpackbpFee GatebpOrdersPrice spread, now −0.152%Rate

Funding earned: −$130.67
Price spread: −0.152% → −0.078%: −$7.42
Slippage, 4 orders: −$49.68
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$212.77
Costs to cover: 0.747%
Break-even: never at this rate

Slippage from Backpack: live order book, 62 min ago; Gate: live order book, 1 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, 62 min ago	0.07 bp	5.6 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.90 bp	30.1 bp −$30	222.0 bp −$2,220	doesn't fit	doesn't fit

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	−0.0360%	1h	0.6910	+0.065%	$88K	$37K	25x	as long as short
Injective AERO/USDC PERP	+0.0033%	1h	0.6902	−0.051%	$4	$209K	5.5x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6901	−0.065%	$42K	$128K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6897	−0.123%	$26.0M	$25.2M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.6897	−0.123%	$22.5M	$18.0M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6902	−0.051%	$2.3M	$5.9M	20x	as long as short
Gate AERO_USDTshort	+0.0100%	4h	0.6895	−0.152%	$1.6M	$477K	75x
MEXC AERO_USDT	+0.0100%	4h	0.6900	−0.080%	$8.4M	$1.4M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.6904	−0.022%	$2.0M	$1.1M	50x	as long as short
Bitget AEROUSDT	+0.0100%	4h	0.6895	−0.152%	$4.0M	$1.9M	75x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AERO-USDT	+0.0100%	4h	0.6901	−0.065%	—	$1.8M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6908	+0.038%	$2.0M	$1.2M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6900	−0.085%	$204K	$1.4M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6891	−0.204%	$46K	—	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.6899	−0.090%	$19K	$4K	15x	as long as short
Hyperliquid AERO	+0.0301%	1h	0.6909	+0.050%	$22.8M	$5.3M	3x	as long as short
Deribit AERO_USDC-PERPETUAL	+0.0330%	1h	0.6901	−0.065%	$55K	$11K	10x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6906	+0.007%	$940K	$584K	25x	as long as short
RISEx AERO/USDC	+0.0416%	1h	0.6901	−0.067%	$210K	$527K	3x	as long as short
01 Exchange AEROUSD	+0.0512%	1h	0.6907	+0.016%	$187	$101	3x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0518% / S −0.0255%	1h	0.6896	−0.140%	$90K	—	100x	as long as short
Backpack AERO_USDC_PERPlong	+0.0722%	1h	0.6905	long leg	$93K	$260K	15x
Lighter AERO	+0.0952%	1h	0.6913	+0.104%	$1.3M	$394K	3x	as long as short