AERO arbitrage explained
Right now Aerodrome Finance (AERO) trades on 10 venues we scan: 10 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Bitget perp at $0.7944 and the highest bid on Hyperliquid perp at $0.7952.
The widest AERO perpetual spread is between Bitget and Hyperliquid: long AERO on Bitget at $0.7944 and short on Hyperliquid at $0.7952 for +0.11% gross, or -0.05% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is 0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best AERO route is to buy spot on MEXC and short the perpetual on Hyperliquid: +0.04% gross, -0.16% net, with +0.030% a day of funding on the short leg.
Spot–spot AERO arbitrage (buy on MEXC, withdraw, deposit and sell on Binance) shows +0.01% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small AERO gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: AERO funding rates · AERO spread charts · Aerodrome Finance price · arbitrage scanner for all coins.