Funding you earn now, next payment 03:00 UTC+0.0933%/8h= +102.1% APRpaid last 24h +0.096%
Price spread now: Backpack against Binance+0.003%7-day average +0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$610.615% of the position
Funding, last 7 days+0.280%+$28 on $10k
+Price spread, last 4 days (all we have)−0.075%−$7 · spread now +0.003%, 7d avg +0.027%
=Funding pays, the price is against you. Backpack is 0.024% cheaper against Binance than usual: you would sell low and buy high (spread +0.003% now, against its 7-day average of +0.027%). If the spread goes back, that is −$2 on $10k: about 2 hours of funding at the current rate (+$28 a day). At the pace of the last 7 days (+0.280% in total) that is about 15 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.280% in total (about 14.6% 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 | Binance AEROUSDT | 0.6895 | 0.0100 | pay 0.0050% / 4h | 1h 36m | $26.1M | $25.2M | 75x |
| Short | Backpack AERO_USDC_PERP | 0.6895 | 0.1033 | get 0.0129% / 1h | 36m 33s | $113K | $294K | 15x |
Binance AEROUSDT
Backpack AERO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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
- $195.85
- Price spread: +0.003% → +0.027%
- −$2.42
- Slippage, 4 orders
- −$41.45
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $131.97
- Costs to cover
- 0.615%
- Break-even
- 2.3 days
Slippage from Binance: live order book, 5 min ago; Backpack: live order book, 27 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 Binance live order book, 5 min ago | 0.72 bp | 13.2 bp −$13 | 27.0 bp −$270 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 27 min ago | 0.07 bp | 25.9 bp −$26 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective AERO/USDC PERP | +0.0033% | 1h | 0.6902 | +0.102% | $4 | $209K | 5.5x | as long as short |
| Deribit AERO_USDC-PERPETUAL | +0.0041% | 1h | 0.6884 | −0.160% | $55K | $11K | 10x | as long as short |
| Hyperliquid AERO | +0.0100% | 1h | 0.6902 | +0.106% | $23.2M | $5.1M | 3x | as long as short |
| Aster AEROUSDT | +0.0100% | 4h | 0.6898 | +0.044% | $39K | $117K | 10x | as long as short |
| Binance AEROUSDTlong | +0.0100% | 4h | 0.6895 | long leg | $26.1M | $25.2M | 75x | |
| Bybit AEROUSDT | +0.0100% | 4h | 0.6892 | −0.044% | $22.4M | $19.0M | 25x | as long as short |
| OKX AERO-USDT-SWAP | +0.0100% | 4h | 0.6893 | −0.029% | $2.3M | $6.5M | 20x | as long as short |
| Gate AERO_USDT | +0.0100% | 4h | 0.6888 | −0.102% | $1.6M | $482K | 75x | as long as short |
| MEXC AERO_USDT | +0.0100% | 4h | 0.6897 | +0.029% | $8.2M | $1.6M | 100x | as long as short |
| KuCoin AEROUSDTM | +0.0100% | 4h | 0.6893 | −0.029% | $2.1M | $938K | 50x | as long as short |
Injective AERO/USDC PERP
Deribit AERO_USDC-PERPETUAL
Hyperliquid AERO
Aster AEROUSDT
Bybit AEROUSDT
OKX AERO-USDT-SWAP
Gate AERO_USDT
MEXC AERO_USDT
KuCoin AEROUSDTMShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget AEROUSDT | +0.0100% | 4h | 0.6894 | −0.015% | $4.1M | $1.9M | 75x | as long as short |
| BingX AERO-USDT | +0.0100% | 4h | 0.6896 | +0.015% | — | $1.7M | — | as long as short |
| Variational Omni AERO | +0.0100% | 4h | 0.6891 | −0.056% | $2.0M | $1.3M | — | as long as short |
| Extended AERO-USD | +0.0104% | 1h | 0.6895 | +0.005% | $206K | $2.0M | 10x | as long as short |
| Aevo AERO-PERP | +0.0104% | 1h | 0.6874 | −0.301% | $46K | — | 3x | as long as short |
| Reya AERORUSDPERP | +0.0228% | 1h | 0.6884 | −0.159% | $19K | $4K | 15x | as long as short |
| BloFin AERO-USDT | +0.0340% | 4h | 0.6886 | −0.131% | $938K | $631K | 25x | as long as short |
| 01 Exchange AEROUSD | +0.0400% | 1h | 0.6903 | +0.120% | $187 | $101 | 3x | as long as short |
| GMX AERO/USD [ETH-USDC] | L +0.0506% / S −0.0237% | 1h | 0.6883 | −0.174% | $90K | — | 100x | as long as short |
| RISEx AERO/USDC | +0.0540% | 1h | 0.6898 | +0.040% | $207K | $405K | 3x | as long as short |
| Backpack AERO_USDC_PERPshort | +0.1033% | 1h | 0.6895 | +0.003% | $113K | $294K | 15x | |
| Lighter AERO | +0.1208% | 1h | 0.6915 | +0.283% | $1.3M | $498K | 3x | as long as short |
| Coinbase International AERO-PERP-INTX | +1.0840% | 1h | 0.6899 | +0.058% | $90K | $36K | 25x | as long as short |
Bitget AEROUSDT
BingX AERO-USDT
Variational Omni AERO
Extended AERO-USD
Aevo AERO-PERP
Reya AERORUSDPERP
BloFin AERO-USDT
01 Exchange AEROUSD
GMX AERO/USD [ETH-USDC]
RISEx AERO/USDC
Lighter AERO
Coinbase International AERO-PERP-INTX