Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h +0.047%

Price spread now: Reya against Bybit−0.020%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.020% cheaper against Bybit than usual: you would sell low and buy high (spread −0.020% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 13 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AEROUSDT	0.6875	0.0100	pay 0.0050% / 4h	38m 55s	$22.3M	$18.2M	25x
Short	Reya AERORUSDPERP	0.6874	0.0228	get 0.0029% / 1h	38m 55s	$19K	$4K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Bybit. 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 BybitbpFee ReyabpOrdersPrice spread, now −0.020%Rate

Funding earned: $26.92
Price spread: −0.020% → 0.000%: −$2.01
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Reya: 3 bp × 2 orders: −$6
Net: $7.91
Costs to cover: 0.170%
Break-even: 4.9 days

Slippage unknown: Bybit: live order book, 5 min ago; Reya: 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 Bybit live order book, 5 min ago	0.73 bp	11.3 bp −$11	36.4 bp −$364	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Deribit AERO_USDC-PERPETUAL	0.0000%	1h	0.6869	−0.087%	$55K	$11K	10x	as long as short
Injective AERO/USDC PERP	+0.0033%	1h	0.6902	+0.393%	$4	$209K	5.5x	as long as short
Hyperliquid AERO	+0.0100%	1h	0.6875	−0.006%	$23.0M	$5.0M	3x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6879	+0.058%	$39K	$116K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6877	+0.033%	$26.1M	$24.8M	75x	as long as short
Bybit AEROUSDTlong	+0.0100%	4h	0.6875	long leg	$22.3M	$18.2M	25x
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6877	+0.029%	$2.3M	$5.9M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6873	−0.029%	$1.6M	$460K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.6873	−0.029%	$8.2M	$1.5M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.6880	+0.073%	$2.1M	$929K	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	0.6875	0.000%	$4.0M	$1.8M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.6875	0.000%	—	$1.7M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6870	−0.069%	$2.0M	$1.2M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6871	−0.057%	$208K	$2.0M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6872	−0.050%	$46K	—	3x	as long as short
Reya AERORUSDPERPshort	+0.0228%	1h	0.6874	−0.020%	$19K	$4K	15x
BloFin AERO-USDT	+0.0340%	4h	0.6874	−0.015%	$941K	$581K	25x	as long as short
01 Exchange AEROUSD	+0.0344%	1h	0.6880	+0.070%	$186	$101	3x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0506% / S −0.0237%	1h	0.6872	−0.043%	$89K	—	100x	as long as short
RISEx AERO/USDC	+0.0677%	1h	0.6876	+0.013%	$209K	$438K	3x	as long as short
Lighter AERO	+0.0760%	1h	0.6885	+0.147%	$1.3M	$484K	3x	as long as short
Backpack AERO_USDC_PERP	+0.0850%	1h	0.6880	+0.067%	$113K	$292K	15x	as long as short
Coinbase International AERO-PERP-INTX	+0.6656%	1h	0.6880	+0.073%	$90K	$35K	25x	as long as short