Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.073%

Price spread now: KuCoin against Paragon−0.048%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,033as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,018as in the Price arb table

costs, in and out, $10k−$1,01510.150% of the position

Long on Paragon Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.183%−$18 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.048%, 7d avg −0.016%

Together, before fees−0.090%−$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.033% cheaper against Paragon than usual: you would sell low and buy high (spread −0.048% now, against its 7-day average of −0.016%). If the spread goes back, that is −$3 on $10k: about 2.7 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.183%, 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	Paragon para:AAOI	107.87	0.0060	pay 0.0008% / 1h	31m 15s	$226K	$721K	10x
Short	KuCoin AAOIUSDTM	107.82	0.0100	get 0.0100% / 8h	31m 15s	$441K	$214K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.048%Rate

Funding earned: $8.4
Price spread: −0.048% → −0.016%: −$3.26
Slippage, 4 orders: −$993
Fee Paragon: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,009.85
Costs to cover: 10.150%
Break-even: 848.5 days

Slippage from Paragon: live order book, 24 min ago; KuCoin: live order book, 2 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, 24 min ago	4.66 bp	27.9 bp −$28	119.9 bp −$1,199	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	7.89 bp	461.9 bp −$462	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	−0.1362%	8h	108.00	+0.119%	$3.2M	$3.9M	20x	as long as short
Aster AAOIUSDT	0.0000%	8h	107.91	+0.035%	$40K	$37K	20x	as long as short
Gate AAOI_USDT	0.0000%	8h	107.87	−0.002%	$3.7M	$12.9M	50x	as long as short
Variational Omni AAOI	0.0000%	8h	107.83	−0.035%	$116K	$159K	—	as long as short
GRVT AAOI_USDT_Perp	0.0000%	8h	107.85	−0.017%	$863	$114K	10x	as long as short
SunX AAOI-USDT	0.0000%	8h	107.89	+0.017%	$1K	$1.2M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	107.83	−0.039%	$23K	$47K	20x	as long as short
Bybit AAOIUSDT	+0.0004%	8h	107.89	+0.017%	$1.7M	$2.8M	25x	as long as short
Extended AAOI-USD	+0.0016%	1h	107.82	−0.047%	$14K	$226K	10x	as long as short
Binance AAOIUSDT	+0.0019%	8h	107.86	−0.015%	$14.8M	$45.3M	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	107.88	+0.008%	—	—	10x	as long as short
QFEX AAOI-USD	+0.0034%	1h	107.88	+0.008%	$1.1M	$1.8M	10x	as long as short
BloFin AAOI-USDT	+0.0037%	8h	107.82	−0.048%	$277K	$66K	20x	as long as short
Popdex AAOIUSDT	+0.0048%	1h	107.91	+0.035%	$986	$108K	20x	as long as short
Paragon para:AAOIlong	+0.0060%	1h	107.87	long leg	$226K	$721K	10x
KuCoin AAOIUSDTMshort	+0.0100%	8h	107.82	−0.048%	$441K	$214K	20x
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	107.86	−0.011%	$1K	$13K	10x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	107.84	−0.031%	—	—	10x	as long as short
tradeXYZ xyz:AAOI	+0.0113%	1h	107.78	−0.085%	$1.9M	$1.5M	10x	as long as short
edgeX AAOIUSDC	+0.0180%	4h	107.85	−0.019%	$12K	$265K	10x	as long as short
OKX AAOI-USDT-SWAP	+0.0426%	8h	107.91	+0.035%	$5.0M	$20.6M	20x	as long as short