Funding arb · Price arb /

AERO

all AERO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0337%/8h= +36.9% APRpaid last 24h +0.058%

Price spread now: Backpack against MEXC+0.103%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.240%+$24 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.103%, 7d avg +0.024%

Together, before fees+0.166%+$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Backpack is 0.079% dearer against MEXC than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AERO_USDT	0.6872	0.0100	pay 0.0050% / 4h	2h 07m	$8.1M	$1.6M	100x
Short	Backpack AERO_USDC_PERP	0.6879	0.0437	get 0.0055% / 1h	7m 58s	$102K	$313K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.103%Rate

Funding earned: $70.84
Price spread: +0.103% → +0.024%: $7.94
Slippage, 4 orders: −$13.69
Fee MEXC: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $47.09
Costs to cover: 0.317%
Break-even: 2.3 days

Slippage from MEXC: live order book, 10 min ago; Backpack: live order book, 15 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 MEXC live order book, 10 min ago	0.72 bp	8.2 bp −$8	14.4 bp −$144	111.6 bp −$11.2K	doesn't fit
Sell Backpack live order book, 15 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	−0.0477%	1h	0.6871	−0.015%	$55K	$11K	10x	as long as short
Injective AERO/USDC PERP	+0.0052%	1h	0.6902	+0.437%	$4	$209K	5.5x	as long as short
Hyperliquid AERO	+0.0100%	1h	0.6876	+0.060%	$23.1M	$5.7M	3x	as long as short
Aster AEROUSDT	+0.0100%	4h	0.6878	+0.094%	$38K	$109K	10x	as long as short
Binance AEROUSDT	+0.0100%	4h	0.6872	0.000%	$25.4M	$25.7M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.6871	−0.015%	$21.9M	$20.5M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.6874	+0.029%	$2.3M	$6.8M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.6874	+0.029%	$1.6M	$563K	75x	as long as short
MEXC AERO_USDTlong	+0.0100%	4h	0.6872	long leg	$8.1M	$1.6M	100x
KuCoin AEROUSDTM	+0.0100%	4h	0.6875	+0.044%	$2.2M	$839K	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	0.6868	−0.058%	$4.1M	$2.2M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.6877	+0.073%	—	$1.8M	—	as long as short
Variational Omni AERO	+0.0100%	4h	0.6875	+0.048%	$1.9M	$1.7M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.6870	−0.027%	$201K	$1.3M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.6873	+0.007%	$46K	—	3x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.6871	−0.014%	$19K	$4K	15x	as long as short
01 Exchange AEROUSD	+0.0288%	1h	0.6876	+0.063%	$186	$115	3x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.6873	+0.015%	$915K	$692K	25x	as long as short
Backpack AERO_USDC_PERPshort	+0.0437%	1h	0.6879	+0.103%	$102K	$313K	15x
GMX AERO/USD [ETH-USDC]	L +0.0501% / S −0.0223%	1h	0.6872	+0.006%	$92K	—	100x	as long as short
RISEx AERO/USDC	+0.0530%	1h	0.6877	+0.068%	$215K	$381K	3x	as long as short
Lighter AERO	+0.0896%	1h	0.6891	+0.269%	$1.3M	$495K	3x	as long as short
Coinbase International AERO-PERP-INTX	+0.1488%	1h	0.6979	+1.557%	$93K	$33K	25x	as long as short