Aerodrome Finance (AERO) Perpetual Futures

The open-interest-weighted AERO funding rate is +0.0060% per 8 hours, or +6.58% annualised. Positive funding means longs pay shorts. Across exchanges it ranges from -0.0106% on KuCoin to +0.0100% on Hyperliquid. Compare all funding rates.

AERO perpetual open interest is $166.82M (182.47M AERO), up 8.35% in 24 hours. Binance holds the most at $46.89M. That is 18.22% of Aerodrome Finance's market cap.

Aerodrome is an automated market maker on Base that pays AERO emissions to liquidity providers. Holders who lock AERO as veAERO vote each week on where emissions go and receive fees and incentives from the pools they back. Its design is a fork of Velodrome, which runs on Optimism.

Aerodrome Finance perps traded $118.10M in the last 24 hours, +17.35% on the day before. Binance leads with 43%, followed by Bybit ($17.45M) and OKX ($10.90M).

Over the last 24 hours 54.2% of accounts are long and 45.8% short, a long/short ratio of 1.19. See the long/short ratio by exchange.

Aerodrome earns fees from trading on Base, so busier periods on the network lift fees, voting incentives and demand to lock AERO. Quiet periods do the opposite. Traders often treat AERO perps as a leveraged proxy for Base, alongside news about Coinbase and its layer 2.

Locked AERO stays out of the spot market until its lock expires, which reduces liquid supply. Lockers who want to protect against price falls without giving up their voting power can short AERO perps against the position. Rising open interest without a matching price move can reflect this kind of hedging.

$45.0K of AERO positions were liquidated in 24 hours, $24.5K longs and $20.5K shorts. Binance saw the most at $71.9K. See liquidations across the market.

Both are vote-escrow DEX tokens from the same team, with AERO running on Base and VELO on Optimism. They share a design, so the two often react to the same governance and product news. Each token's price still depends mainly on trading activity on its own chain.

AERO perpetual futures are derivatives contracts that track the price of AERO and never expire. Instead of settling on a date, they use a funding rate to stay close to the spot price. You can go long or short with leverage without holding any AERO.

Funding is a payment between longs and shorts. When AERO perps trade above the index price, funding is positive and longs pay shorts. When they trade below it, shorts pay longs. Most exchanges settle every 8 hours and some, including Hyperliquid, settle every hour.

AERO perps trade on 10 tracked exchanges. By volume the largest are Binance, Bybit and OKX. Compare fees and features on the best perpetual exchanges.

Coinperps does not give trading advice. Funding, open interest, the long/short ratio and liquidations show how other traders are positioned, but crowded positioning can last longer than expected. Size positions so a liquidation would not hurt you.