Funding you earn now, next payment 23:00 UTC−0.0420%/8h= −45.9% APRnext payment −$0.52 per $10,000 · paid last 24h −0.113%
Price spread now: Backpack against Lighter−0.386%54s7-day average −0.145% · you buy dearer than you sell
Net, funding: paid 7d − costs−$101as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$470.472% of the position
Funding, last 7 days−0.537%−$54 on $10k
+Price spread, last 4 days (all we have)+0.296%+$30 · spread now −0.386%, 7d avg −0.145%
=Together, before fees−0.240%+ Points / potential airdropLighter: Season 3 · farm board−$24 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Backpack is 0.241% cheaper against Lighter than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.145%). Swap the legs. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter AERO | 0.6918 | 0.0912 | pay 0.0114% / 1h | 25m 19s | $1.3M | $464K | 3x |
| Short | Backpack AERO_USDC_PERP | 0.6891 | 0.0492 | get 0.0062% / 1h | 25m 19s | $102K | $314K | 15x |
Lighter AERO
Backpack AERO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- −$88.11
- Price spread: −0.386% → −0.145%
- −$24.08
- Slippage, 4 orders
- −$37.19
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$159.38
- Costs to cover
- 0.472%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 1 min ago; Backpack: live order book, 58 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 Lighter live order book, 1 min ago | 5.14 bp | 19.7 bp −$20 | 117.7 bp −$1,177 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 58 min ago | 0.07 bp | 7.3 bp −$7 | 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 | −0.0040% | 1h | 0.6901 | −0.246% | $55K | $11K | 10x | as long as short |
| Hyperliquid AERO | +0.0100% | 1h | 0.6908 | −0.150% | $23.2M | $5.7M | 3x | as long as short |
| Aster AEROUSDT | +0.0100% | 4h | 0.6900 | −0.259% | $39K | $110K | 10x | as long as short |
| Binance AEROUSDT | +0.0100% | 4h | 0.6901 | −0.246% | $25.6M | $25.4M | 75x | as long as short |
| Bybit AEROUSDT | +0.0100% | 4h | 0.6900 | −0.260% | $22.0M | $20.5M | 25x | as long as short |
| OKX AERO-USDT-SWAP | +0.0100% | 4h | 0.6903 | −0.217% | $2.3M | $6.8M | 20x | as long as short |
| Gate AERO_USDT | +0.0100% | 4h | 0.6898 | −0.289% | $1.6M | $532K | 75x | as long as short |
| MEXC AERO_USDT | +0.0100% | 4h | 0.6902 | −0.231% | $8.2M | $1.7M | 100x | as long as short |
| KuCoin AEROUSDTM | +0.0100% | 4h | 0.6891 | −0.390% | $2.1M | $906K | 50x | as long as short |
| Bitget AEROUSDT | +0.0100% | 4h | 0.6900 | −0.260% | $4.1M | $2.2M | 75x | as long as short |
Deribit AERO_USDC-PERPETUAL
Hyperliquid AERO
Aster AEROUSDT
Binance AEROUSDT
Bybit AEROUSDT
OKX AERO-USDT-SWAP
Gate AERO_USDT
MEXC AERO_USDT
KuCoin AEROUSDTM
Bitget AEROUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX AERO-USDT | +0.0100% | 4h | 0.6900 | −0.260% | — | $1.8M | — | as long as short |
| Variational Omni AERO | +0.0100% | 4h | 0.6881 | −0.540% | $1.9M | $1.7M | — | as long as short |
| Extended AERO-USD | +0.0104% | 1h | 0.6901 | −0.247% | $201K | $1.3M | 10x | as long as short |
| Aevo AERO-PERP | +0.0104% | 1h | 0.6903 | −0.222% | $46K | — | 3x | as long as short |
| Injective AERO/USDC PERP | +0.0175% | 1h | 0.6902 | −0.231% | $4 | $209K | 5.5x | as long as short |
| 01 Exchange AEROUSD | +0.0216% | 1h | 0.6901 | −0.244% | $187 | $115 | 3x | as long as short |
| Reya AERORUSDPERP | +0.0228% | 1h | 0.6901 | −0.248% | $19K | $4K | 15x | as long as short |
| BloFin AERO-USDT | +0.0340% | 4h | 0.6889 | −0.419% | $914K | $694K | 25x | as long as short |
| Backpack AERO_USDC_PERPshort | +0.0492% | 1h | 0.6891 | −0.386% | $102K | $314K | 15x | |
| GMX AERO/USD [ETH-USDC] | L +0.0502% / S −0.0223% | 1h | 0.6901 | −0.248% | $92K | — | 100x | as long as short |
| RISEx AERO/USDC | +0.0676% | 1h | 0.6900 | −0.264% | $214K | $368K | 3x | as long as short |
| Coinbase International AERO-PERP-INTX | +0.0736% | 1h | 0.6885 | −0.477% | $91K | $32K | 25x | as long as short |
| Lighter AEROlong | +0.0912% | 1h | 0.6918 | long leg | $1.3M | $464K | 3x |
BingX AERO-USDT
Variational Omni AERO
Extended AERO-USD
Aevo AERO-PERP
Injective AERO/USDC PERP
01 Exchange AEROUSD
Reya AERORUSDPERP
BloFin AERO-USDT
GMX AERO/USD [ETH-USDC]
RISEx AERO/USDC
Coinbase International AERO-PERP-INTX