Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.017%

Price spread now: BloFin against ApeX Omni−0.161%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$430.433% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.150%+$15 on $10k

Price spread, last 4 days (all we have)+0.299%+$30 · spread now −0.161%, 7d avg −0.012%

Together, before fees+0.449%+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.149% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.161% now, against its 7-day average of −0.012%). If the spread goes back, that is −$15 on $10k: about 4.1 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni AAVEUSDT	142.45	0.0100	pay 0.0013% / 1h	37m 07s	$132K	$222K	50x
Short	BloFin AAVE-USDT	142.22	0.0220	get 0.0220% / 8h	1h 37m	$3.3M	$3.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now −0.161%Rate

Funding earned: $25.2
Price spread: −0.161% → −0.012%: −$14.91
Slippage, 4 orders: −$21.31
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$33.03
Costs to cover: 0.433%
Break-even: 16.2 days

Slippage from ApeX Omni: live order book, 4 min ago; BloFin: 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 ApeX Omni live order book, 4 min ago	4.92 bp	12.4 bp −$12	96.7 bp −$967	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.70 bp	9.2 bp −$9	14.5 bp −$145	30.5 bp −$3,052	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
dYdX AAVE-USD	0.0000%	1h	142.26	−0.135%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.25	−0.140%	$51K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.24	−0.147%	$216K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.16	−0.200%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.854%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.21	−0.167%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0064%	1h	142.24	−0.151%	$823K	$401K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0078%	8h	142.22	−0.161%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.23	−0.154%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.26	−0.133%	$4.5M	$2.4M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.19	−0.184%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.27	−0.123%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.23	−0.151%	$325K	$450K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.21	−0.168%	$64.0M	$192.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.15	−0.211%	$61.1M	$68.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.11	−0.239%	$17.0M	$65.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.35	−0.070%	$63K	$197K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.17	−0.197%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.16	−0.204%	$24.8M	$24.0M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.23	−0.154%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.18	−0.190%	$29.1M	$18.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.15	−0.211%	—	$43.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.28	−0.119%	$374K	$742K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.40	−0.035%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.14	−0.214%	$107K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.48	+0.020%	$448K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDTlong	+0.0100%	1h	142.45	long leg	$132K	$222K	50x
Polymarket Perps AAVE-USD	+0.0100%	1h	142.31	−0.098%	$141K	$471K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.19	−0.183%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.22	−0.161%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.35	−0.068%	$675K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.24	−0.147%	$4.0M	$3.6M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.36	−0.066%	$57K	−$0	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.17	−0.197%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.27	−0.125%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0128%	1h	142.31	−0.098%	$10K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0160%	1h	142.29	−0.112%	$77.8M	$37.1M	10x	as long as short
BloFin AAVE-USDTshort	+0.0220%	8h	142.22	−0.161%	$3.3M	$3.6M	100x
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.27	−0.126%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.32	−0.090%	$194K	$262K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.32	−0.091%	$754K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0317%	1h	142.33	−0.087%	$3.4M	$2.1M	50x	as long as short