Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.094%

Price spread now: Bybit against Paragon+0.046%53s7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as 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−$1121.124% of the position

Long on Paragon Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now +0.046%, 7d avg +0.039%

Together, before fees−0.120%−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.039%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 53 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	Paragon para:AAOI	108.65	0.0060	pay 0.0008% / 1h	54m 54s	$227K	$718K	10x
Short	Bybit AAOIUSDT	108.70	0	get 0.0000% / 8h	4h 54m	$1.7M	$3.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Paragon. 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 ParagonbpFee BybitbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$12.6
Price spread: +0.046% → +0.039%: $0.65
Slippage, 4 orders: −$91.41
Fee Paragon: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$124.36
Costs to cover: 1.124%
Break-even: never at this rate

Slippage from Paragon: live order book, 44 min ago; Bybit: live order book, 5 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 Paragon live order book, 44 min ago	3.22 bp	40.1 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	1.83 bp	31.9 bp −$32	94.3 bp −$943	doesn't fit	doesn't fit

AAOI on 21 exchanges

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	−0.0020%	8h	108.73	+0.074%	$3.3M	$4.3M	20x	as long as short
Aster AAOIUSDT	0.0000%	8h	108.78	+0.123%	$40K	$43K	20x	as long as short
Bybit AAOIUSDTshort	0.0000%	8h	108.70	+0.046%	$1.7M	$3.0M	25x
Gate AAOI_USDT	0.0000%	8h	108.74	+0.083%	$3.9M	$12.5M	50x	as long as short
SunX AAOI-USDT	0.0000%	8h	108.71	+0.055%	$1K	$1.1M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	108.69	+0.037%	$24K	$46K	20x	as long as short
Variational Omni AAOI	+0.0004%	8h	108.72	+0.061%	$117K	$155K	—	as long as short
QFEX AAOI-USD	+0.0008%	1h	108.73	+0.074%	$1.1M	$1.8M	10x	as long as short
Lighter AAOI	+0.0032%	1h	108.61	−0.037%	—	—	10x	as long as short
Popdex AAOIUSDT	+0.0048%	1h	108.76	+0.101%	$1K	$109K	20x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:AAOI	+0.0050%	1h	108.70	+0.046%	$1.9M	$1.7M	10x	as long as short
Paragon para:AAOIlong	+0.0060%	1h	108.65	long leg	$227K	$718K	10x
OKX AAOI-USDT-SWAP	+0.0088%	8h	108.76	+0.101%	$4.8M	$22.5M	20x	as long as short
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	108.75	+0.092%	$1K	$14K	10x	as long as short
KuCoin AAOIUSDTM	+0.0100%	8h	108.77	+0.110%	$450K	$418K	20x	as long as short
BloFin AAOI-USDT	+0.0100%	8h	108.72	+0.064%	$273K	$79K	20x	as long as short
Extended AAOI-USD	+0.0104%	1h	108.66	+0.011%	$14K	$236K	10x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	108.78	+0.121%	—	—	10x	as long as short
Binance AAOIUSDT	+0.0107%	8h	108.72	+0.064%	$14.7M	$50.1M	20x	as long as short
GRVT AAOI_USDT_Perp	+0.0133%	8h	108.98	+0.304%	$507	$108K	10x	as long as short
edgeX AAOIUSDC	+0.0524%	4h	108.92	+0.248%	$13K	$263K	10x	as long as short