Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0240%/8hnext payment −$1.20 per $10,000 · paid last 24h −0.002%

Price spread now: Bybit against BloFin−0.073%7-day average −0.008% · 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−$52as in the Price arb table

costs, in and out, $10k−$450.450% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$16 on $10k

Price spread, last 3 days (all we have)−0.034%−$3 · spread now −0.073%, 7d avg −0.008%

Together, before fees−0.189%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.066% cheaper against BloFin than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.008%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.155% in total (about -8.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.20 per $10,000. 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	BloFin AERO-USDT	0.6844	0.0340	pay 0.0170% / 4h	5m 15s	$915K	$687K	25x
Short	Bybit AEROUSDT	0.6839	0.0100	get 0.0050% / 4h	5m 15s	$21.9M	$20.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$50.4
Price spread: −0.073% → −0.008%: −$6.55
Slippage, 4 orders: −$22.01
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$101.96
Costs to cover: 0.450%
Break-even: never at this rate

Slippage from BloFin: live order book, 26 min ago; Bybit: live order book, 3 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 BloFin live order book, 26 min ago	0.73 bp	11.9 bp −$12	22.0 bp −$220	74.3 bp −$7,426	doesn't fit
Sell Bybit live order book, 3 min ago	0.73 bp	10.8 bp −$11	26.4 bp −$264	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
Deribit AERO_USDC-PERPETUAL	−0.0335%	1h	0.6838	−0.088%	$54K	$11K	10x	as long as short
Injective AERO/USDC PERP	−0.0198%	1h	0.6813	−0.453%	$4	$117K	5.5x	as long as short
01 Exchange AEROUSD	−0.0072%	1h	0.6837	−0.105%	$185	$122	3x	as long as short
Hyperliquid AERO	+0.0100%	1h	0.6843	−0.012%	$23.2M	$5.6M	3x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6844	−0.006%	$39K	$106K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6838	−0.088%	$25.2M	$25.1M	75x	as long as short
Bybit AEROUSDTshort	+0.0100%	4h	0.6839	−0.073%	$21.9M	$20.3M	25x
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6841	−0.044%	$2.3M	$6.6M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6844	0.000%	$1.5M	$570K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.6836	−0.117%	$8.0M	$1.6M	100x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AEROUSDTM	+0.0100%	4h	0.6841	−0.044%	$2.3M	$808K	50x	as long as short
Bitget AEROUSDT	+0.0100%	4h	0.6836	−0.117%	$4.1M	$2.2M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.6842	−0.029%	—	$1.8M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6849	+0.073%	$1.8M	$1.7M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6838	−0.094%	$195K	$1.3M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6841	−0.051%	$46K	—	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.6836	−0.110%	$19K	$4K	15x	as long as short
BloFin AERO-USDTlong	+0.0340%	4h	0.6844	long leg	$915K	$687K	25x
Backpack AERO_USDC_PERP	+0.0409%	1h	0.6848	+0.066%	$104K	$317K	15x	as long as short
RISEx AERO/USDC	+0.0452%	1h	0.6846	+0.023%	$211K	$420K	3x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0502% / S −0.0229%	1h	0.6842	−0.034%	$90K	—	100x	as long as short
Lighter AERO	+0.0616%	1h	0.6856	+0.174%	$1.3M	$522K	3x	as long as short
Coinbase International AERO-PERP-INTX	+0.5160%	1h	0.6862	+0.263%	$91K	$18K	25x	as long as short