Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0011%/8h= −1.3% APRpaid last 24h −0.021%

Price spread now: Phoenix against Aster−0.091%85s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Phoenix is 0.091% cheaper against Aster than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 85 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	Aster AAVEUSDT	143.43	0.0100	pay 0.0100% / 8h	5h 46m	$1.3M	$1.2M	50x
Short	Phoenix AAVE	143.30	0.0089	get 0.0011% / 1h	46m 03s	$5K	$98K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.091%Rate

Funding earned: −$2.4
Price spread: −0.091% → 0.000%: −$9.14
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$26.54
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 2 min ago; Phoenix: no order-book sample. Net counts fees only.

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, 2 min ago	3.84 bp	8.7 bp −$9	32.6 bp −$326	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0064%	1h	143.26	−0.119%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.20	−0.163%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.15	−0.196%	$59K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.50	+0.048%	$238K	$376K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.46	+0.019%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.512%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.36	−0.048%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	143.44	+0.006%	$18K	$10K	10x	as long as short
Phoenix AAVEshort	+0.0089%	1h	143.30	−0.091%	$5K	$98K	10x
OKX AAVE-USDT-SWAP	+0.0094%	8h	143.31	−0.084%	$17.2M	$63.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	143.50	+0.050%	$4.6M	$1.5M	10x	as long as short
MEXC AAVE_USDT	+0.0098%	8h	143.40	−0.022%	$26.1M	$23.5M	200x	as long as short
Binance AAVEUSDT	+0.0099%	8h	143.38	−0.036%	$64.3M	$183.2M	75x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.19	−0.165%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.38	−0.036%	$832K	$431K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.46	+0.020%	$77.6M	$35.3M	10x	as long as short
Aster AAVEUSDTlong	+0.0100%	8h	143.43	long leg	$1.3M	$1.2M	50x
Pacifica AAVE	+0.0100%	1h	143.22	−0.147%	$326K	$433K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.32	−0.077%	$61.3M	$64.3M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.30	−0.091%	$44K	$181K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.04	+0.428%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.35	−0.057%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.52	+0.062%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.35	−0.057%	$30.1M	$17.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.35	−0.057%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.46	+0.020%	$320K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.37	−0.043%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.33	−0.068%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.18	+0.522%	$463K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.30	−0.091%	$133K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.40	−0.022%	$125K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.42	−0.005%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.38	−0.036%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.57	+0.097%	$694K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.39	−0.029%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.39	−0.028%	$913K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.49	+0.044%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.34	−0.062%	$195K	$231K	10x	as long as short
BloFin AAVE-USDT	+0.0218%	8h	143.01	−0.294%	—	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	143.44	+0.006%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0268%	1h	143.40	−0.024%	$3.5M	$2.0M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	143.37	−0.043%	$776K	$2.8M	50x	as long as short