Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0155%/8h= +16.9% APRpaid last 24h +0.045%

Price spread now: GMX against BingX−0.091%7-day average — · you buy dearer than you sell

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

Long on BingX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.091% cheaper against BingX than usual: you would sell low and buy high (spread −0.091% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 47 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AERO-USDT	0.6900	0.0100	pay 0.0050% / 4h	3h 30m	—	$1.8M	—
Short	GMX AERO/USD [ETH-USDC]	0.6894	L +0.0519% / S −0.0255%	get 0.0032% / 1h	30m 11s	$90K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now −0.091%Rate

Funding earned: $32.46
Price spread: −0.091% → 0.000%: −$9.09
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $1.37
Costs to cover: 0.220%
Break-even: 6.7 days

Slippage unknown: BingX: live order book, 2 min ago; GMX: no order-book sample. 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 BingX live order book, 2 min ago	2.90 bp	21.4 bp −$21	39.0 bp −$390	295.4 bp −$29.5K	736.3 bp −$368.1K
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.6907	+0.101%	$88K	$39K	25x	as long as short
Injective AERO/USDC PERP	+0.0033%	1h	0.6902	+0.029%	$4	$209K	5.5x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6898	−0.026%	$42K	$127K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6897	−0.039%	$26.0M	$25.0M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.6894	−0.087%	$22.6M	$17.9M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6902	+0.029%	$2.3M	$5.8M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6897	−0.043%	$1.6M	$467K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.6897	−0.043%	$8.4M	$1.4M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.6899	−0.014%	$2.0M	$1.1M	50x	as long as short
Bitget AEROUSDT	+0.0100%	4h	0.6896	−0.058%	$4.1M	$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-USDTlong	+0.0100%	4h	0.6900	long leg	—	$1.8M	—
Variational Omni AERO	+0.0100%	4h	0.6899	−0.016%	$2.0M	$1.2M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6894	−0.087%	$209K	$1.4M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6895	−0.080%	$46K	—	3x	as long as short
Deribit AERO_USDC-PERPETUAL	+0.0185%	1h	0.6895	−0.072%	$55K	$11K	10x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.6897	−0.048%	$19K	$4K	15x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6898	−0.029%	$942K	$564K	25x	as long as short
RISEx AERO/USDC	+0.0503%	1h	0.6897	−0.046%	$202K	$569K	3x	as long as short
GMX AERO/USD [ETH-USDC]short	L +0.0519% / S −0.0255%	1h	0.6894	−0.091%	$90K	—	100x
01 Exchange AEROUSD	+0.0752%	1h	0.6902	+0.032%	$187	$101	3x	as long as short
Backpack AERO_USDC_PERP	+0.0806%	1h	0.6904	+0.064%	$94K	$262K	15x	as long as short
Hyperliquid AERO	+0.0872%	1h	0.6906	+0.084%	$22.8M	$5.4M	3x	as long as short
Lighter AERO	+0.1496%	1h	0.6912	+0.174%	$1.3M	$386K	3x	as long as short