Funding arb · Price arb /

AAOI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0042%/8h= +4.7% APRpaid last 24h −0.008%

Price spread now: Bybit against QFEX+0.128%7-day average +0.056% · 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−$39as in the Price arb table

costs, in and out, $10k−$460.460% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.089%+$9 on $10k

Price spread, last 7 days−0.091%−$9 · spread now +0.128%, 7d avg +0.056%

Together, before fees−0.002%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bybit is 0.071% dearer against QFEX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX AAOI-USD	109.57	0.0076	pay 0.0010% / 1h	13m 50s	$1.1M	$2.0M	10x
Short	Bybit AAOIUSDT	109.71	0.0119	get 0.0119% / 8h	3h 13m	$1.7M	$2.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now +0.128%Rate

Funding earned: $8.92
Price spread: +0.128% → +0.056%: $7.13
Slippage, 4 orders: −$24.96
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$29.9
Costs to cover: 0.460%
Break-even: 30.5 days

Slippage from QFEX: live order book, 3 min ago; Bybit: live order book, 3 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 QFEX live order book, 3 min ago	1.82 bp	7.7 bp −$8	15.1 bp −$151	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	3.19 bp	16.5 bp −$16	109.4 bp −$1,094	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	−0.0349%	8h	109.73	+0.146%	$2.7M	$3.0M	20x	as long as short
BloFin AAOI-USDT	−0.0002%	8h	109.63	+0.055%	$269K	$63K	20x	as long as short
Aster AAOIUSDT	0.0000%	8h	109.60	+0.030%	$40K	$37K	20x	as long as short
Extended AAOI-USD	0.0000%	1h	109.63	+0.059%	$14K	$209K	10x	as long as short
Binance AAOIUSDT	0.0000%	8h	109.68	+0.101%	$14.9M	$42.8M	20x	as long as short
Gate AAOI_USDT	0.0000%	8h	109.68	+0.100%	$3.9M	$13.2M	50x	as long as short
Variational Omni AAOI	0.0000%	8h	109.69	+0.106%	$150K	$131K	—	as long as short
SunX AAOI-USDT	0.0000%	8h	109.72	+0.137%	$1K	$1.2M	10x	as long as short
HTX AAOI-USDT	0.0000%	8h	109.60	+0.027%	$24K	$44K	20x	as long as short
GRVT AAOI_USDT_Perp	+0.0019%	8h	109.54	−0.030%	$823	$110K	10x	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	109.62	+0.046%	—	—	10x	as long as short
Popdex AAOIUSDT	+0.0048%	1h	109.67	+0.091%	$1K	$109K	20x	as long as short
edgeX AAOIUSDC	+0.0074%	4h	109.54	−0.029%	$13K	$265K	10x	as long as short
QFEX AAOI-USDlong	+0.0076%	1h	109.57	long leg	$1.1M	$2.0M	10x
KuCoin AAOIUSDTM	+0.0100%	8h	109.64	+0.064%	$459K	$190K	20x	as long as short
Orderly PERP_AAOI_USDC_mythos	+0.0100%	8h	109.68	+0.100%	$2K	$13K	10x	as long as short
Aevo AAOI-PERP	+0.0104%	1h	109.65	+0.069%	—	—	10x	as long as short
Bybit AAOIUSDTshort	+0.0119%	8h	109.71	+0.128%	$1.7M	$2.7M	25x
OKX AAOI-USDT-SWAP	+0.0353%	8h	109.75	+0.164%	$4.8M	$19.7M	20x	as long as short
tradeXYZ xyz:AAOI	+0.0370%	1h	109.61	+0.037%	$2.0M	$1.4M	10x	as long as short
Paragon para:AAOI	+0.0442%	1h	109.55	−0.016%	$231K	$720K	10x	as long as short