Funding you earn now, next payment 09:00 UTC+0.0711%/8h= +77.9% APRpaid last 24h +0.139%
Price spread now: Backpack against OKX−0.012%7-day average +0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$410.410% of the position
Funding, last 7 days+0.314%+$31 on $10k
+Price spread, last 4 days (all we have)−0.034%−$3 · spread now −0.012%, 7d avg +0.019%
=Funding pays, the price is against you. Backpack is 0.031% cheaper against OKX than usual: you would sell low and buy high (spread −0.012% now, against its 7-day average of +0.019%). If the spread goes back, that is −$3 on $10k: about 3 hours of funding at the current rate (+$21 a day). At the pace of the last 7 days (+0.314% in total) that is about 17 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.314% in total (about 16.4% 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 | OKX AERO-USDT-SWAP | 0.6930 | 0.0100 | pay 0.0050% / 4h | 3h 46m | $2.3M | $5.8M | 20x |
| Short | Backpack AERO_USDC_PERP | 0.6929 | 0.0811 | get 0.0101% / 1h | 46m 49s | $96K | $262K | 15x |
OKX AERO-USDT-SWAP
Backpack AERO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against OKX. 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
- $149.36
- Price spread: −0.012% → +0.019%
- −$3.09
- Slippage, 4 orders
- −$21.01
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $105.26
- Costs to cover
- 0.410%
- Break-even
- 2.1 days
Slippage from OKX: live order book, 1 min ago; Backpack: live order book, 51 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 OKX live order book, 1 min ago | 1.44 bp | 16.6 bp −$17 | 41.8 bp −$418 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 51 min ago | 0.07 bp | 6.3 bp −$6 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International AERO-PERP-INTX | −0.0280% | 1h | 0.6942 | +0.173% | $88K | $39K | 25x | as long as short |
| Injective AERO/USDC PERP | +0.0033% | 1h | 0.6902 | −0.404% | $4 | $209K | 5.5x | as long as short |
| Aster AEROUSDT | +0.0100% | 4h | 0.6929 | −0.019% | $42K | $127K | 10x | as long as short |
| Binance AEROUSDT | +0.0100% | 4h | 0.6922 | −0.111% | $26.0M | $25.0M | 75x | as long as short |
| Bybit AEROUSDT | +0.0100% | 4h | 0.6922 | −0.115% | $22.6M | $17.9M | 25x | as long as short |
| OKX AERO-USDT-SWAPlong | +0.0100% | 4h | 0.6930 | long leg | $2.3M | $5.8M | 20x | |
| Gate AERO_USDT | +0.0100% | 4h | 0.6919 | −0.159% | $1.6M | $465K | 75x | as long as short |
| MEXC AERO_USDT | +0.0100% | 4h | 0.6924 | −0.087% | $8.5M | $1.4M | 100x | as long as short |
| KuCoin AEROUSDTM | +0.0100% | 4h | 0.6925 | −0.072% | $2.0M | $1.1M | 50x | as long as short |
| Bitget AEROUSDT | +0.0100% | 4h | 0.6920 | −0.144% | $4.1M | $1.9M | 75x | as long as short |
Coinbase International AERO-PERP-INTX
Injective AERO/USDC PERP
Aster AEROUSDT
Binance AEROUSDT
Bybit AEROUSDT
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 | 0.6918 | −0.173% | — | $1.8M | — | as long as short |
| Variational Omni AERO | +0.0100% | 4h | 0.6911 | −0.269% | $2.0M | $1.2M | — | as long as short |
| Extended AERO-USD | +0.0104% | 1h | 0.6920 | −0.141% | $210K | $1.4M | 10x | as long as short |
| Aevo AERO-PERP | +0.0104% | 1h | 0.6925 | −0.065% | $46K | — | 3x | as long as short |
| Reya AERORUSDPERP | +0.0228% | 1h | 0.6929 | −0.012% | $19K | $4K | 15x | as long as short |
| BloFin AERO-USDT | +0.0340% | 4h | 0.6922 | −0.115% | $944K | $573K | 25x | as long as short |
| RISEx AERO/USDC | +0.0503% | 1h | 0.6920 | −0.151% | $218K | $556K | 3x | as long as short |
| GMX AERO/USD [ETH-USDC] | L +0.0520% / S −0.0255% | 1h | 0.6921 | −0.126% | $90K | — | 100x | as long as short |
| Deribit AERO_USDC-PERPETUAL | +0.0617% | 1h | 0.6930 | 0.000% | $55K | $11K | 10x | as long as short |
| 01 Exchange AEROUSD | +0.0712% | 1h | 0.6953 | +0.338% | $188 | $101 | 3x | as long as short |
| Backpack AERO_USDC_PERPshort | +0.0811% | 1h | 0.6929 | −0.012% | $96K | $262K | 15x | |
| Hyperliquid AERO | +0.0882% | 1h | 0.6931 | +0.009% | $22.8M | $5.4M | 3x | as long as short |
| Lighter AERO | +0.1496% | 1h | 0.6935 | +0.075% | $1.3M | $386K | 3x | as long as short |
BingX AERO-USDT
Variational Omni AERO
Extended AERO-USD
Aevo AERO-PERP
Reya AERORUSDPERP
BloFin AERO-USDT
RISEx AERO/USDC
GMX AERO/USD [ETH-USDC]
Deribit AERO_USDC-PERPETUAL
01 Exchange AEROUSD
Hyperliquid AERO
Lighter AERO