Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Arcus against Backpack+0.028%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on Backpack Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now +0.028%, 7d avg −0.002%

Together, before fees+0.004%$0 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: Arcus is 0.030% dearer against Backpack than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	144.89	0.0100	pay 0.0013% / 1h	39m 18s	$382K	$710K	10x
Short	Arcus AAVE-USD	144.93	0.0100	get 0.0013% / 1h	39m 18s	$50K	$273K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Backpack. 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 BackpackbpFee ArcusbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → −0.002%: $3
Slippage, 4 orders: −$16.21
Fee Backpack: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$27.71
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from Backpack: live order book, 45 min ago; Arcus: live order book, 44 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 Backpack live order book, 45 min ago	0.35 bp	8.2 bp −$8	143.5 bp −$1,435	doesn't fit	doesn't fit
Sell Arcus live order book, 44 min ago	1.38 bp	6.4 bp −$6	20.8 bp −$208	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
01 Exchange AAVEUSD	−0.0184%	1h	144.93	+0.028%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0079%	1h	144.88	−0.007%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0045%	1h	144.79	−0.069%	$5K	$100K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0026%	1h	144.92	+0.021%	$254K	$480K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.93	+0.026%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.88	−0.007%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.00	+0.072%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.473%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0034%	8h	144.94	+0.035%	$31.1M	$25.7M	200x	as long as short
Binance AAVEUSDT	+0.0035%	8h	144.87	−0.015%	$65.8M	$185.4M	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	144.92	+0.024%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.99	+0.071%	$180K	$246K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0050%	8h	144.92	+0.021%	$17.5M	$66.5M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.88	−0.007%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	144.96	+0.050%	$3.5M	$2.1M	50x	as long as short
Gate AAVE_USDT	+0.0066%	8h	144.96	+0.048%	$7.8M	$15.8M	75x	as long as short
Bulk AAVE-USD	+0.0080%	1h	144.69	−0.141%	$61K	$3K	10x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.92	+0.019%	$122K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	144.65	−0.166%	$462K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.04	+0.103%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.91	+0.011%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.91	+0.017%	$802K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.07	+0.124%	$79.7M	$34.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.95	+0.041%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.93	+0.030%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.92	+0.021%	$61.5M	$65.6M	75x	as long as short
Arcus AAVE-USDshort	+0.0100%	1h	144.93	+0.028%	$50K	$273K	10x
KuCoin AAVEUSDTM	+0.0100%	8h	144.94	+0.035%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.91	+0.014%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.94	+0.035%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERPlong	+0.0100%	1h	144.89	long leg	$382K	$710K	10x
Variational Omni AAVE	+0.0100%	8h	144.69	−0.139%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.63	−0.179%	$103K	$314K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.72	−0.117%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.02	+0.090%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.92	+0.023%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.99	+0.069%	$695K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.79	−0.069%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.86	−0.024%	$929K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0139%	8h	144.86	−0.021%	$3.4M	$4.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	144.99	+0.071%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.10	+0.145%	$783K	$3.0M	50x	as long as short