Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.014%

Price spread now: Popdex against Bybit−0.019%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$710.714% of the position

Long on Bybit Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.053%−$5 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.019%, 7d avg +0.001%

Together, before fees+0.030%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.053%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAOIUSDT	107.75	0	get 0.0000% / 8h	6m 18s	$1.7M	$2.8M	25x
Short	Popdex AAOIUSDT	107.73	0.0048	get 0.0006% / 1h	6m 18s	$995	$108K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.019%Rate

Funding earned: $10.08
Price spread: −0.019% → +0.001%: −$1.94
Slippage, 4 orders: −$54.04
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$63.31
Costs to cover: 0.714%
Break-even: 51.0 days

Slippage from Bybit: live order book, 1 min ago; Popdex: live order book, 32 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, 1 min ago	2.32 bp	16.0 bp −$16	103.9 bp −$1,039	doesn't fit	doesn't fit
Sell Popdex live order book, 32 min ago	1.85 bp	17.0 bp −$17	doesn't fit	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
Bitget AAOIUSDT	−0.1267%	8h	107.87	+0.111%	$3.2M	$3.9M	20x	as long as short
Aster AAOIUSDT	0.0000%	8h	107.80	+0.047%	$40K	$37K	20x	as long as short
Extended AAOI-USD	0.0000%	1h	107.73	−0.019%	$17K	$230K	10x	as long as short
Binance AAOIUSDT	0.0000%	8h	107.74	−0.009%	$14.8M	$45.4M	20x	as long as short
Bybit AAOIUSDTlong	0.0000%	8h	107.75	long leg	$1.7M	$2.8M	25x
Gate AAOI_USDT	0.0000%	8h	107.71	−0.037%	$3.7M	$13.0M	50x	as long as short
Variational Omni AAOI	0.0000%	8h	107.77	+0.015%	$115K	$153K	—	as long as short
GRVT AAOI_USDT_Perp	0.0000%	8h	107.80	+0.048%	$749	$114K	10x	as long as short
SunX AAOI-USDT	0.0000%	8h	107.75	0.000%	$1K	$1.2M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	107.69	−0.056%	$23K	$47K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin AAOI-USDT	+0.0003%	8h	107.76	+0.009%	$278K	$66K	20x	as long as short
Lighter AAOI	+0.0032%	1h	107.73	−0.019%	—	—	10x	as long as short
QFEX AAOI-USD	+0.0034%	1h	107.67	−0.074%	$1.1M	$1.8M	10x	as long as short
Popdex AAOIUSDTshort	+0.0048%	1h	107.73	−0.019%	$995	$108K	20x
tradeXYZ xyz:AAOI	+0.0065%	1h	107.73	−0.019%	$1.9M	$1.5M	10x	as long as short
KuCoin AAOIUSDTM	+0.0100%	8h	107.73	−0.019%	$443K	$221K	20x	as long as short
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	107.74	−0.009%	$1K	$13K	10x	as long as short
Paragon para:AAOI	+0.0100%	1h	107.60	−0.142%	$225K	$721K	10x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	107.73	−0.016%	—	—	10x	as long as short
OKX AAOI-USDT-SWAP	+0.0387%	8h	107.73	−0.019%	$5.0M	$20.5M	20x	as long as short
edgeX AAOIUSDC	+0.0990%	4h	107.75	−0.002%	$12K	$264K	10x	as long as short