Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.041%

Price spread now: OKX against ApeX Omni−0.076%60s7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.458% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 3 days (all we have)−0.099%−$10 · spread now −0.076%, 7d avg −0.040%

Together, before fees−0.223%−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.035% cheaper against ApeX Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.040%). Swap the legs. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni AAVEUSDT	145.10	0.0100	pay 0.0013% / 1h	10m 27s	$135K	$228K	50x
Short	OKX AAVE-USDT-SWAP	144.99	0.0057	get 0.0057% / 8h	1h 10m	$17.6M	$66.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$9.03
Price spread: −0.076% → −0.040%: −$3.53
Slippage, 4 orders: −$25.84
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$58.41
Costs to cover: 0.458%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 6 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 ApeX Omni live order book, 6 min ago	6.90 bp	14.3 bp −$14	93.3 bp −$933	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.34 bp	6.7 bp −$7	14.4 bp −$144	66.1 bp −$6,608	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
01 Exchange AAVEUSD	−0.0128%	1h	145.01	−0.062%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0045%	1h	145.09	−0.007%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0035%	1h	145.11	+0.007%	$5K	$298K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0026%	1h	145.13	+0.021%	$255K	$465K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.12	+0.015%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.11	+0.007%	$66K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.09	−0.006%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.610%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0036%	8h	145.00	−0.069%	$30.8M	$25.9M	200x	as long as short
Binance AAVEUSDT	+0.0037%	8h	145.03	−0.048%	$66.1M	$185.2M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	144.94	−0.110%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.07	−0.021%	$180K	$245K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.11	+0.007%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.22	+0.085%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAPshort	+0.0057%	8h	144.99	−0.076%	$17.6M	$66.9M	50x
Gate AAVE_USDT	+0.0066%	8h	145.03	−0.048%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.16	+0.045%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.29	+0.134%	$4.7M	$1.6M	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0099%	8h	145.02	−0.054%	$458K	$3.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.99	−0.075%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.99	−0.076%	$802K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.14	+0.030%	$79.8M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.09	−0.004%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.09	−0.008%	$331K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.04	−0.041%	$61.6M	$65.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.03	−0.048%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.13	+0.018%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.00	−0.069%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.03	−0.048%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.04	−0.041%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.23	+0.090%	$347K	$723K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.10	−0.002%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.01	−0.060%	$104K	$315K	20x	as long as short
ApeX Omni AAVEUSDTlong	+0.0100%	1h	145.10	long leg	$135K	$228K	50x
Polymarket Perps AAVE-USD	+0.0100%	1h	145.08	−0.014%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.04	−0.039%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.22	+0.080%	$695K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.14	+0.028%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.97	−0.089%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0147%	8h	145.13	+0.021%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.04	−0.039%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.06	−0.028%	$787K	$3.0M	50x	as long as short