Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.045%

Price spread now: OKX against Aevo−0.010%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$990.987% of the position

Long on Aevo Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.127%−$13 on $10k

Price spread, last 3 days (all we have)−0.213%−$21 · spread now −0.010%, 7d avg −0.033%

Together, before fees−0.340%−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.023% dearer against Aevo than usual: you sell high and buy low (spread −0.010% now, against its 7-day average of −0.033%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 7 days (−0.127% in total) that is about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo AAVE-PERP	146.43	0.0088	pay 0.0011% / 1h	56m 00s	$124K	$146	10x
Short	OKX AAVE-USDT-SWAP	146.42	0.0066	get 0.0066% / 8h	56m 00s	$17.9M	$67.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$4.67
Price spread: −0.010% → −0.033%: $2.31
Slippage, 4 orders: −$72.73
Fee Aevo: 8 bp × 2 orders: −$16
Fee OKX: 5 bp × 2 orders: −$10
Net: −$101.08
Costs to cover: 0.987%
Break-even: never at this rate

Slippage from Aevo: live order book, 23 min ago; OKX: 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 Aevo live order book, 23 min ago	26.19 bp	45.0 bp −$45	265.8 bp −$2,658	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.34 bp	6.5 bp −$7	12.5 bp −$125	65.5 bp −$6,547	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
Phoenix AAVE	−0.0045%	1h	146.30	−0.092%	$5K	$99K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.29	−0.102%	$104K	$5K	10x	as long as short
01 Exchange AAVEUSD	0.0000%	1h	146.42	−0.010%	$11K	$2K	5x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.28	−0.106%	$85K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	146.45	+0.010%	$256K	$412K	50x	as long as short
SoDEX AAVE-USD	+0.0001%	1h	146.45	+0.010%	$5K	$298K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.54	+0.071%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.45	+0.013%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.470%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0042%	8h	146.43	−0.003%	$30.6M	$25.5M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0042%	8h	146.41	−0.016%	$66.7M	$185.1M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.39	−0.031%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	146.39	−0.031%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAPshort	+0.0066%	8h	146.42	−0.010%	$17.9M	$67.6M	50x
Gate AAVE_USDT	+0.0076%	8h	146.40	−0.024%	$7.9M	$15.8M	75x	as long as short
Aevo AAVE-PERPlong	+0.0088%	1h	146.43	long leg	$124K	$146	10x
Lighter AAVE	+0.0096%	1h	146.65	+0.145%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.40	−0.026%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.33	−0.070%	$810K	$438K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.44	+0.006%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.37	−0.047%	$334K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.42	−0.010%	$62.5M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.38	−0.038%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.440%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.39	−0.031%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.43	−0.003%	$30.6M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.37	−0.044%	—	$44.0M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	145.55	−0.608%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.73	−0.479%	$105K	$315K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.61	−0.564%	$460K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.79	−0.440%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.45	+0.010%	$128K	$466K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.34	−0.064%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.40	−0.027%	$701K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.36	−0.051%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.32	−0.078%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.41	−0.015%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0163%	8h	146.17	−0.181%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.45	+0.007%	$126K	—	100x	as long as short
Hyperliquid AAVE	+0.0277%	1h	146.56	+0.085%	$80.9M	$34.2M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.43	−0.003%	$795K	$3.1M	50x	as long as short
Backpack AAVE_USDC_PERP	+0.0298%	1h	146.54	+0.072%	$354K	$733K	10x	as long as short