Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0122%/8h= −13.4% APRpaid last 24h +0.014%

Price spread now: Extended against Bybit−0.010%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$620.620% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now −0.010%, 7d avg −0.043%

Together, before fees−0.024%+ Points / potential airdropExtended: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.033% dearer against Bybit than usual: you sell high and buy low (spread −0.010% now, against its 7-day average of −0.043%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAOIUSDT	111.68	0.0122	pay 0.0122% / 8h	4h 08m	$1.8M	$2.6M	25x
Short	Extended AAOI-USD	111.67	0	get 0.0000% / 1h	8m 40s	$15K	$213K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$25.62
Price spread: −0.010% → −0.043%: $3.27
Slippage, 4 orders: −$46.01
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$84.36
Costs to cover: 0.620%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Extended: live order book, 48 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 Bybit live order book, 3 min ago	2.69 bp	11.6 bp −$12	83.0 bp −$830	doesn't fit	doesn't fit
Sell Extended live order book, 48 min ago	3.31 bp	16.2 bp −$16	127.3 bp −$1,273	doesn't fit	doesn't fit

AAOI on 21 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
Aster AAOIUSDT	0.0000%	8h	111.66	−0.017%	$41K	$37K	20x	as long as short
Extended AAOI-USDshort	0.0000%	1h	111.67	−0.010%	$15K	$213K	10x
Binance AAOIUSDT	0.0000%	8h	111.70	+0.018%	$15.1M	$42.0M	20x	as long as short
Gate AAOI_USDT	0.0000%	8h	111.73	+0.045%	$4.1M	$13.1M	50x	as long as short
Bitget AAOIUSDT	0.0000%	8h	111.72	+0.036%	$2.8M	$3.0M	20x	as long as short
Variational Omni AAOI	0.0000%	8h	111.67	−0.005%	$153K	$131K	—	as long as short
SunX AAOI-USDT	0.0000%	8h	111.75	+0.063%	$1K	$1.2M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	111.51	−0.152%	$24K	$43K	20x	as long as short
GRVT AAOI_USDT_Perp	+0.0008%	8h	111.70	+0.015%	$671	$104K	10x	as long as short
BloFin AAOI-USDT	+0.0024%	8h	111.75	+0.063%	$266K	$64K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAOI	+0.0032%	1h	111.66	−0.018%	—	—	10x	as long as short
Popdex AAOIUSDT	+0.0048%	1h	111.66	−0.018%	$1K	$109K	20x	as long as short
QFEX AAOI-USD	+0.0053%	1h	111.65	−0.027%	$1.1M	$2.1M	10x	as long as short
Paragon para:AAOI	+0.0060%	1h	111.57	−0.098%	$238K	$718K	10x	as long as short
KuCoin AAOIUSDTM	+0.0100%	8h	111.72	+0.036%	$468K	$178K	20x	as long as short
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	111.70	+0.018%	$2K	$13K	10x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	111.70	+0.014%	—	—	10x	as long as short
Bybit AAOIUSDTlong	+0.0122%	8h	111.68	long leg	$1.8M	$2.6M	25x
OKX AAOI-USDT-SWAP	+0.0236%	8h	111.73	+0.045%	$4.8M	$19.5M	20x	as long as short
tradeXYZ xyz:AAOI	+0.0311%	1h	111.63	−0.045%	$2.0M	$1.3M	10x	as long as short
edgeX AAOIUSDC	+0.0470%	4h	111.69	+0.006%	$13K	$263K	10x	as long as short