Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0139%/8h= +15.3% APRpaid last 24h +0.045%

Price spread now: GMX against Bitget−0.234%154s7-day average — · you buy dearer than you sell

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

Long on Bitget 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 0.234% cheaper against Bitget than usual: you would sell low and buy high (spread −0.234% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 5.6 days of funding at the current rate (+$4 a day). The two prices were read 154 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AEROUSDT	0.7115	0.0100	pay 0.0050% / 4h	2h 58m	$4.2M	$2.0M	75x
Short	GMX AERO/USD [ETH-USDC]	0.7098	L +0.0515% / S −0.0239%	get 0.0030% / 1h	58m 52s	$92K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.234%Rate

Funding earned: $29.26
Price spread: −0.234% → 0.000%: −$23.4
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$18.14
Costs to cover: 0.240%
Break-even: 11.3 days

Slippage unknown: Bitget: live order book, 4 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 Bitget live order book, 4 min ago	4.22 bp	18.4 bp −$18	71.8 bp −$718	doesn't fit	doesn't fit
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
Injective AERO/USDC PERP	+0.0033%	1h	0.6902	−2.994%	$4	$209K	5.5x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.7125	+0.145%	$43K	$120K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.7120	+0.074%	$27.1M	$26.0M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.7121	+0.084%	$23.7M	$19.3M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.7126	+0.155%	$2.4M	$5.8M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.7119	+0.056%	$1.7M	$469K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.7124	+0.126%	$8.7M	$1.4M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.7120	+0.070%	$2.0M	$1.2M	50x	as long as short
Bitget AEROUSDTlong	+0.0100%	4h	0.7115	long leg	$4.2M	$2.0M	75x
BingX AERO-USDT	+0.0100%	4h	0.7121	+0.084%	—	$1.8M	—	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AERO	+0.0100%	4h	0.7089	−0.363%	$2.0M	$1.1M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.7121	+0.081%	$216K	$1.4M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.7128	+0.185%	$48K	—	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.7131	+0.220%	$20K	$4K	15x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.7130	+0.211%	$985K	$593K	25x	as long as short
GMX AERO/USD [ETH-USDC]short	L +0.0515% / S −0.0239%	1h	0.7098	−0.234%	$92K	—	100x
Deribit AERO_USDC-PERPETUAL	+0.0593%	1h	0.7124	+0.126%	$57K	$684	10x	as long as short
RISEx AERO/USDC	+0.0706%	1h	0.7130	+0.206%	$235K	$596K	3x	as long as short
Backpack AERO_USDC_PERP	+0.0875%	1h	0.7128	+0.188%	$102K	$249K	15x	as long as short
01 Exchange AEROUSD	+0.1016%	1h	0.7149	+0.481%	$194	$101	3x	as long as short
Hyperliquid AERO	+0.1337%	1h	0.7131	+0.230%	$23.5M	$6.1M	3x	as long as short
Lighter AERO	+0.1992%	1h	0.7135	+0.280%	$1.3M	$396K	3x	as long as short
Coinbase International AERO-PERP-INTX	+0.3888%	1h	0.6700	−5.833%	$85K	$38K	25x	as long as short