Funding arb · Price arb /

AERO

all AERO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0268%/8h= −29.3% APRpaid last 24h −0.123%

Price spread now: MEXC against Backpack−0.068%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.306%−$31 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now −0.068%, 7d avg −0.033%

Together, before fees−0.248%−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and MEXC is 0.035% cheaper against Backpack than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AERO_USDC_PERP	0.6793	0.0368	pay 0.0046% / 1h	33m 19s	$93K	$260K	15x
Short	MEXC AERO_USDT	0.6788	0.0100	get 0.0050% / 4h	2h 33m	$8.3M	$1.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$56.28
Price spread: −0.068% → −0.033%: −$3.52
Slippage, 4 orders: −$12.77
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$90.57
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from Backpack: live order book, 15 min ago; MEXC: live order book, 5 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, 15 min ago	0.07 bp	5.4 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.73 bp	8.5 bp −$9	43.2 bp −$432	131.5 bp −$13.2K	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
Deribit AERO_USDC-PERPETUAL	0.0000%	1h	0.6786	−0.097%	$54K	$11K	10x	as long as short
Injective AERO/USDC PERP	+0.0033%	1h	0.6902	+1.611%	$4	$209K	5.5x	as long as short
Hyperliquid AERO	+0.0100%	1h	0.6787	−0.082%	$22.4M	$5.3M	3x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6791	−0.020%	$39K	$123K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6786	−0.092%	$25.6M	$25.1M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.6784	−0.127%	$22.0M	$18.1M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6793	+0.006%	$2.2M	$5.8M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6781	−0.171%	$1.6M	$472K	75x	as long as short
MEXC AERO_USDTshort	+0.0100%	4h	0.6788	−0.068%	$8.3M	$1.6M	100x
KuCoin AEROUSDTM	+0.0100%	4h	0.6784	−0.127%	$2.2M	$1.1M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AEROUSDT	+0.0100%	4h	0.6779	−0.200%	$3.9M	$1.8M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.6789	−0.053%	—	$1.8M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6807	+0.219%	$1.9M	$1.2M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6784	−0.128%	$203K	$1.4M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6783	−0.134%	$46K	—	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.6785	−0.112%	$19K	$4K	15x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6787	−0.082%	$929K	$588K	25x	as long as short
01 Exchange AEROUSD	+0.0360%	1h	0.6795	+0.037%	$184	$101	3x	as long as short
Backpack AERO_USDC_PERPlong	+0.0368%	1h	0.6793	long leg	$93K	$260K	15x
RISEx AERO/USDC	+0.0382%	1h	0.6790	−0.045%	$199K	$487K	3x	as long as short
Lighter AERO	+0.0416%	1h	0.6797	+0.065%	$1.3M	$507K	3x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0504% / S −0.0237%	1h	0.6783	−0.140%	$88K	—	100x	as long as short
Coinbase International AERO-PERP-INTX	+0.1984%	1h	0.6400	−5.780%	$83K	$32K	25x	as long as short