Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0407%/8h= −44.6% APRpaid last 24h −0.115%

Price spread now: KuCoin against GMX+0.093%7-day average — · you sell dearer than you buy

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

Long on GMX Short on KuCoin

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—needs both histories

The price spread pays, funding is against you. KuCoin is 0.093% dearer against GMX than usual: you sell high and buy low (spread +0.093% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AERO/USD [ETH-USDC]	0.6917	L +0.0507% / S −0.0237%	pay 0.0063% / 1h	44m 04s	$90K	—	100x
Short	KuCoin AEROUSDTM	0.6923	0.0100	get 0.0050% / 4h	3h 44m	$2.1M	$930K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against GMX. 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 GMXbpFee KuCoinbpOrdersPrice spread, now +0.093%Rate

Funding earned: −$85.51
Price spread: +0.093% → 0.000%: $9.3
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$100.21
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	8.66 bp	39.7 bp −$40	324.5 bp −$3,245	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
Injective AERO/USDC PERP	+0.0033%	1h	0.6902	−0.211%	$4	$209K	5.5x	as long as short
Hyperliquid AERO	+0.0100%	1h	0.6926	+0.144%	$23.1M	$5.1M	3x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6927	+0.156%	$40K	$118K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6926	+0.136%	$26.3M	$24.7M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.6919	+0.035%	$22.5M	$18.1M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6929	+0.180%	$2.3M	$5.9M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6919	+0.035%	$1.6M	$462K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.6921	+0.064%	$8.3M	$1.5M	100x	as long as short
KuCoin AEROUSDTMshort	+0.0100%	4h	0.6923	+0.093%	$2.1M	$930K	50x
Bitget AEROUSDT	+0.0100%	4h	0.6920	+0.050%	$4.1M	$1.8M	75x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AERO-USDT	+0.0100%	4h	0.6921	+0.064%	—	$1.7M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6924	+0.112%	$2.0M	$1.2M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6920	+0.044%	$211K	$2.0M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6916	−0.015%	$46K	—	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.6917	+0.008%	$19K	$4K	15x	as long as short
Deribit AERO_USDC-PERPETUAL	+0.0328%	1h	0.6920	+0.050%	$55K	$11K	10x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6922	+0.079%	$947K	$574K	25x	as long as short
GMX AERO/USD [ETH-USDC]long	L +0.0507% / S −0.0237%	1h	0.6917	long leg	$90K	—	100x
01 Exchange AEROUSD	+0.0560%	1h	0.6927	+0.152%	$188	$101	3x	as long as short
RISEx AERO/USDC	+0.0658%	1h	0.6921	+0.059%	$209K	$454K	3x	as long as short
Lighter AERO	+0.1128%	1h	0.6935	+0.272%	$1.3M	$487K	3x	as long as short
Backpack AERO_USDC_PERP	+0.1129%	1h	0.6932	+0.225%	$115K	$248K	15x	as long as short
Coinbase International AERO-PERP-INTX	+0.3376%	1h	0.6890	−0.384%	$90K	$34K	25x	as long as short