Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.014%

Price spread now: Bybit against Popdex+0.074%7-day average +0.002% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$1011.011% of the position

Long on Popdex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.052%+$5 on $10k

Price spread, last 4 days (all we have)−0.326%−$33 · spread now +0.074%, 7d avg +0.002%

Together, before fees−0.273%−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.072% dearer against Popdex than usual: you sell high and buy low (spread +0.074% now, against its 7-day average of +0.002%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.0 days. Mind the row above: over the last 4 days funding on this pair paid +0.052%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex AAOIUSDT	107.93	0.0048	pay 0.0006% / 1h	56m 56s	$936	$109K	20x
Short	Bybit AAOIUSDT	108.01	0	get 0.0000% / 8h	6h 56m	$1.7M	$2.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Popdex. 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 PopdexbpFee BybitbpOrdersPrice spread, now +0.074%Rate

Funding earned: −$10.08
Price spread: +0.074% → +0.002%: $7.19
Slippage, 4 orders: −$83.71
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$104
Costs to cover: 1.011%
Break-even: never at this rate

Slippage from Popdex: live order book, 37 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 Popdex live order book, 37 min ago	5.18 bp	39.4 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.78 bp	28.6 bp −$29	106.7 bp −$1,067	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	−0.0921%	8h	108.01	+0.074%	$3.2M	$4.2M	20x	as long as short
Aster AAOIUSDT	0.0000%	8h	107.69	−0.221%	$40K	$43K	20x	as long as short
Bybit AAOIUSDTshort	0.0000%	8h	108.01	+0.074%	$1.7M	$2.9M	25x
Gate AAOI_USDT	0.0000%	8h	107.98	+0.046%	$3.7M	$12.6M	50x	as long as short
Variational Omni AAOI	0.0000%	8h	107.78	−0.139%	$115K	$157K	—	as long as short
SunX AAOI-USDT	0.0000%	8h	107.81	−0.111%	$1K	$1.2M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	108.00	+0.065%	$24K	$47K	20x	as long as short
QFEX AAOI-USD	+0.0005%	1h	107.90	−0.028%	$1.1M	$1.8M	10x	as long as short
BloFin AAOI-USDT	+0.0018%	8h	107.83	−0.093%	$273K	$68K	20x	as long as short
Lighter AAOI	+0.0032%	1h	107.91	−0.019%	—	—	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended AAOI-USD	+0.0040%	1h	107.92	−0.009%	$16K	$234K	10x	as long as short
Binance AAOIUSDT	+0.0044%	8h	107.95	+0.019%	$14.6M	$48.4M	20x	as long as short
Popdex AAOIUSDTlong	+0.0048%	1h	107.93	long leg	$936	$109K	20x
Paragon para:AAOI	+0.0063%	1h	107.76	−0.155%	$225K	$720K	10x	as long as short
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	107.88	−0.046%	$1K	$14K	10x	as long as short
KuCoin AAOIUSDTM	+0.0100%	8h	107.83	−0.093%	$443K	$287K	20x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	107.92	−0.010%	—	—	10x	as long as short
edgeX AAOIUSDC	+0.0184%	4h	107.90	−0.027%	$12K	$262K	10x	as long as short
tradeXYZ xyz:AAOI	+0.0235%	1h	107.95	+0.019%	$1.9M	$1.6M	10x	as long as short
OKX AAOI-USDT-SWAP	+0.0262%	8h	108.01	+0.074%	$4.8M	$21.5M	20x	as long as short
GRVT AAOI_USDT_Perp	+0.0606%	8h	107.94	+0.010%	$416	$111K	10x	as long as short