Funding you earn now, next payment 22:00 UTC−0.0052%/8h= −5.7% APRnext payment −$0.07 per $10,000 · paid last 24h −0.064%
Price spread now: Backpack against GMX+0.122%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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—needs both histories
The price spread pays, funding is against you. Backpack is 0.122% dearer against GMX than usual: you sell high and buy low (spread +0.122% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.8 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX AERO/USD [ETH-USDC] | 0.6884 | L +0.0502% / S −0.0229% | pay 0.0063% / 1h | 9m 29s | $91K | — | 100x |
| Short | Backpack AERO_USDC_PERP | 0.6892 | 0.0450 | get 0.0056% / 1h | 9m 29s | $102K | $313K | 15x |
GMX AERO/USD [ETH-USDC]
Backpack AERO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$10.98
- Price spread: +0.122% → 0.000%
- $12.22
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$20.77
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Backpack: live order book, 14 min ago. 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 GMX no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 14 min ago | 0.07 bp | 7.3 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit AERO_USDC-PERPETUAL | −0.0331% | 1h | 0.6882 | −0.026% | $55K | $11K | 10x | as long as short |
| Injective AERO/USDC PERP | +0.0052% | 1h | 0.6902 | +0.265% | $4 | $209K | 5.5x | as long as short |
| Hyperliquid AERO | +0.0100% | 1h | 0.6881 | −0.036% | $23.1M | $5.7M | 3x | as long as short |
| Aster AEROUSDT | +0.0100% | 4h | 0.6882 | −0.031% | $38K | $109K | 10x | as long as short |
| Binance AEROUSDT | +0.0100% | 4h | 0.6876 | −0.108% | $25.5M | $25.7M | 75x | as long as short |
| Bybit AEROUSDT | +0.0100% | 4h | 0.6875 | −0.128% | $21.9M | $20.5M | 25x | as long as short |
| OKX AERO-USDT-SWAP | +0.0100% | 4h | 0.6878 | −0.084% | $2.3M | $6.8M | 20x | as long as short |
| Gate AERO_USDT | +0.0100% | 4h | 0.6881 | −0.041% | $1.6M | $563K | 75x | as long as short |
| MEXC AERO_USDT | +0.0100% | 4h | 0.6875 | −0.128% | $8.1M | $1.6M | 100x | as long as short |
| KuCoin AEROUSDTM | +0.0100% | 4h | 0.6885 | +0.018% | $2.2M | $839K | 50x | as long as short |
Deribit AERO_USDC-PERPETUAL
Injective AERO/USDC PERP
Hyperliquid AERO
Aster AEROUSDT
Binance AEROUSDT
Bybit AEROUSDT
OKX AERO-USDT-SWAP
Gate AERO_USDT
MEXC AERO_USDT
KuCoin AEROUSDTMShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget AEROUSDT | +0.0100% | 4h | 0.6868 | −0.229% | $4.1M | $2.2M | 75x | as long as short |
| BingX AERO-USDT | +0.0100% | 4h | 0.6879 | −0.070% | — | $1.8M | — | as long as short |
| Variational Omni AERO | +0.0100% | 4h | 0.6875 | −0.123% | $1.9M | $1.7M | — | as long as short |
| Extended AERO-USD | +0.0104% | 1h | 0.6874 | −0.143% | $201K | $1.3M | 10x | as long as short |
| Aevo AERO-PERP | +0.0104% | 1h | 0.6884 | +0.006% | $46K | — | 3x | as long as short |
| Reya AERORUSDPERP | +0.0228% | 1h | 0.6874 | −0.136% | $19K | $4K | 15x | as long as short |
| 01 Exchange AEROUSD | +0.0288% | 1h | 0.6880 | −0.057% | $186 | $115 | 3x | as long as short |
| BloFin AERO-USDT | +0.0340% | 4h | 0.6874 | −0.142% | $910K | $692K | 25x | as long as short |
| Backpack AERO_USDC_PERPshort | +0.0450% | 1h | 0.6892 | +0.122% | $102K | $313K | 15x | |
| GMX AERO/USD [ETH-USDC]long | L +0.0502% / S −0.0229% | 1h | 0.6884 | long leg | $91K | — | 100x | |
| RISEx AERO/USDC | +0.0530% | 1h | 0.6879 | −0.064% | $215K | $381K | 3x | as long as short |
| Lighter AERO | +0.0896% | 1h | 0.6893 | +0.138% | $1.3M | $495K | 3x | as long as short |
| Coinbase International AERO-PERP-INTX | +0.1488% | 1h | 0.6979 | +1.383% | $93K | $33K | 25x | as long as short |
Bitget AEROUSDT
BingX AERO-USDT
Variational Omni AERO
Extended AERO-USD
Aevo AERO-PERP
Reya AERORUSDPERP
01 Exchange AEROUSD
BloFin AERO-USDT
RISEx AERO/USDC
Lighter AERO
Coinbase International AERO-PERP-INTX