AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Backpack against Aevo+0.048%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$1141.143% of the position

Long on Aevo Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 3 days (all we have)−0.366%−$37 · spread now +0.048%, 7d avg +0.005%

Together, before fees−0.370%−$37 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.044% dearer against Aevo than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo AAVE-PERP	144.34	0.0096	pay 0.0012% / 1h	17m 58s	$122K	$146	10x
Short	Backpack AAVE_USDC_PERP	144.41	0.0100	get 0.0013% / 1h	17m 58s	$377K	$703K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aevo. 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 AevobpFee BackpackbpOrdersPrice spread, now +0.048%Rate

Funding earned: $0.84
Price spread: +0.048% → +0.005%: $4.39
Slippage, 4 orders: −$88.27
Fee Aevo: 8 bp × 2 orders: −$16
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$109.03
Costs to cover: 1.143%
Break-even: 915.6 days

Slippage from Aevo: live order book, 6 min ago; Backpack: live order book, 6 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 Aevo live order book, 6 min ago	34.26 bp	48.4 bp −$48	288.9 bp −$2,889	doesn't fit	doesn't fit
Sell Backpack live order book, 6 min ago	0.35 bp	6.6 bp −$7	84.5 bp −$845	doesn't fit	doesn't fit

AAVE on 42 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
Deribit AAVE_USDC-PERPETUAL	−0.0304%	1h	144.33	−0.007%	$253K	$488K	50x	as long as short
SoDEX AAVE-USD	−0.0186%	1h	144.29	−0.035%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0128%	1h	144.36	+0.014%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.53	+0.132%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.27	−0.050%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.24	−0.069%	$71K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.37	+0.022%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.43	+0.065%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.113%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.29	−0.038%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0048%	8h	144.21	−0.090%	$65.6M	$184.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	144.16	−0.125%	$17.4M	$66.0M	50x	as long as short
MEXC AAVE_USDT	+0.0049%	8h	144.16	−0.125%	$31.3M	$26.3M	200x	as long as short
Gate AAVE_USDT	+0.0050%	8h	144.26	−0.055%	$7.7M	$15.9M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.29	−0.035%	$18K	$12K	10x	as long as short
ApeX Omni AAVEUSDT	+0.0055%	1h	144.42	+0.055%	$134K	$230K	50x	as long as short
GRVT AAVE_USDT_Perp	+0.0088%	8h	144.39	+0.033%	$460K	$3.9M	10x	as long as short
Nado AAVE-PERP	+0.0088%	1h	144.25	−0.062%	$800K	$436K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.50	+0.109%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERPlong	+0.0096%	1h	144.34	long leg	$122K	$146	10x
RISEx AAVE/USDC	+0.0097%	1h	144.38	+0.025%	$180K	$245K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.23	−0.077%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.40	+0.042%	$80.2M	$33.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.30	−0.029%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.28	−0.042%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.22	−0.083%	$61.3M	$65.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.31	−0.021%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.22	−0.083%	$10.2M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.20	−0.097%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.26	−0.055%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	144.41	+0.048%	$377K	$703K	10x
Variational Omni AAVE	+0.0100%	8h	144.27	−0.051%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.29	−0.037%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.38	+0.028%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.29	−0.036%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.33	−0.010%	$718K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.25	−0.062%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.33	−0.004%	$61K	$3K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.14	−0.142%	$924K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0170%	8h	144.19	−0.104%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.36	+0.014%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.36	+0.012%	$124K	—	100x	as long as short