Funding arb · Price arb /

AERO

all AERO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0970%/8h= +106.3% APRpaid last 24h +0.096%

Price spread now: Backpack against Gate+0.180%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$920.920% of the position

Long on Gate Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.306%+$31 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.180%, 7d avg +0.078%

Together, before fees+0.269%+$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$29 a day on $10k at the current rate, and Backpack is 0.102% dearer against Gate than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.078%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.306% in total (about 16.0% 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	Gate AERO_USDT	0.6889	0.0100	pay 0.0050% / 4h	1h 39m	$1.6M	$481K	75x
Short	Backpack AERO_USDC_PERP	0.6901	0.1070	get 0.0134% / 1h	39m 38s	$113K	$295K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Gate. 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 GatebpFee BackpackbpOrdersPrice spread, now +0.180%Rate

Funding earned: $203.8
Price spread: +0.180% → +0.078%: $10.2
Slippage, 4 orders: −$66.96
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Backpack: 5 bp × 2 orders: −$10
Net: $122.03
Costs to cover: 0.920%
Break-even: 2.8 days

Slippage from Gate: live order book, 3 min ago; Backpack: live order book, 24 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 Gate live order book, 3 min ago	3.62 bp	30.5 bp −$31	197.6 bp −$1,976	doesn't fit	doesn't fit
Sell Backpack live order book, 24 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
Deribit AERO_USDC-PERPETUAL	0.0000%	1h	0.6892	+0.044%	$55K	$11K	10x	as long as short
Injective AERO/USDC PERP	+0.0033%	1h	0.6902	+0.189%	$4	$209K	5.5x	as long as short
Hyperliquid AERO	+0.0100%	1h	0.6893	+0.057%	$23.1M	$5.1M	3x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6889	−0.001%	$39K	$117K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6889	0.000%	$26.1M	$25.2M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.6890	+0.015%	$22.4M	$19.0M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6890	+0.015%	$2.3M	$6.6M	20x	as long as short
Gate AERO_USDTlong	+0.0100%	4h	0.6889	long leg	$1.6M	$481K	75x
MEXC AERO_USDT	+0.0100%	4h	0.6888	−0.015%	$8.2M	$1.6M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.6893	+0.058%	$2.1M	$938K	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	0.6888	−0.015%	$4.0M	$1.9M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.6889	0.000%	—	$1.7M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6891	+0.031%	$2.0M	$1.3M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6884	−0.075%	$206K	$2.0M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6890	+0.009%	$46K	—	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.6893	+0.055%	$19K	$4K	15x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6899	+0.145%	$943K	$633K	25x	as long as short
01 Exchange AEROUSD	+0.0408%	1h	0.6890	+0.017%	$187	$101	3x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0506% / S −0.0237%	1h	0.6890	+0.008%	$90K	—	100x	as long as short
RISEx AERO/USDC	+0.0540%	1h	0.6886	−0.045%	$207K	$405K	3x	as long as short
Backpack AERO_USDC_PERPshort	+0.1070%	1h	0.6901	+0.180%	$113K	$295K	15x
Lighter AERO	+0.1256%	1h	0.6904	+0.213%	$1.3M	$496K	3x	as long as short
Coinbase International AERO-PERP-INTX	+1.0840%	1h	0.6899	+0.145%	$90K	$36K	25x	as long as short