Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Backpack against Aster+0.060%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Aster Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 4 days (all we have)−0.190%−$19 · spread now +0.060%, 7d avg −0.004%

Together, before fees−0.176%+ Points / potential airdropAster: Stage 5 · farm board−$18 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 0.064% dearer against Aster than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster AAVEUSDT	145.04	0.0100	pay 0.0100% / 8h	2h 42m	$1.4M	$1.2M	50x
Short	Backpack AAVE_USDC_PERP	145.13	0.0100	get 0.0013% / 1h	42m 26s	$381K	$703K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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 AsterbpFee BackpackbpOrdersPrice spread, now +0.060%Rate

Funding earned: $0
Price spread: +0.060% → −0.004%: $6.39
Slippage, 4 orders: −$14.61
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$26.22
Costs to cover: 0.326%
Break-even: never at this rate

Slippage from Aster: live order book, 1 min ago; Backpack: live order book, 46 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 Aster live order book, 1 min ago	3.45 bp	7.4 bp −$7	33.3 bp −$333	doesn't fit	doesn't fit
Sell Backpack live order book, 46 min ago	0.68 bp	8.5 bp −$9	94.6 bp −$946	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	−0.0370%	1h	145.03	−0.009%	$250K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0184%	1h	145.00	−0.030%	$5K	$311K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.90	−0.099%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	145.05	+0.005%	$4K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.06	+0.010%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.00	−0.030%	$72K	$1.6M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.85	−0.135%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	145.16	+0.079%	$3.5M	$2.0M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.573%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0037%	1h	144.98	−0.044%	$135K	$229K	50x	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	144.75	−0.199%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0051%	8h	144.87	−0.120%	$17.6M	$65.6M	50x	as long as short
Gate AAVE_USDT	+0.0056%	8h	144.95	−0.064%	$7.7M	$15.6M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0057%	8h	145.02	−0.016%	$18K	$12K	10x	as long as short
Binance AAVEUSDT	+0.0074%	8h	144.83	−0.149%	$65.9M	$182.0M	75x	as long as short
MEXC AAVE_USDT	+0.0075%	8h	144.93	−0.078%	$32.1M	$26.1M	200x	as long as short
Nado AAVE-PERP	+0.0085%	1h	144.87	−0.120%	$804K	$444K	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.16	+0.079%	$4.7M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	145.06	+0.013%	$123K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.93	−0.075%	$180K	$242K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0098%	8h	144.97	−0.050%	$460K	$4.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.97	−0.054%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.97	−0.051%	$81.0M	$32.5M	10x	as long as short
Aster AAVEUSDTlong	+0.0100%	8h	145.04	long leg	$1.4M	$1.2M	50x
Pacifica AAVE	+0.0100%	1h	145.01	−0.023%	$331K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.88	−0.113%	$61.7M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.91	−0.092%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.14	+0.065%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.94	−0.071%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.85	−0.133%	$30.2M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.96	−0.057%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	145.13	+0.060%	$381K	$703K	10x
Variational Omni AAVE	+0.0100%	8h	145.12	+0.050%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.93	−0.077%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.92	−0.085%	$127K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.99	−0.040%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.31	+0.187%	$738K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.03	−0.009%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.90	−0.099%	$936K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0196%	8h	145.00	−0.030%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	145.05	+0.005%	$780K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	145.07	+0.017%	$125K	—	100x	as long as short