AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.030%

Price spread now: dYdX against Backpack+0.011%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$186as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1661.660% of the position

Long on Backpack Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.197%−$20 on $10k

Price spread, last 4 days (all we have)+0.062%+$6 · spread now +0.011%, 7d avg +0.002%

Together, before fees−0.135%−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	146.26	0.0100	pay 0.0013% / 1h	19m 35s	$334K	$737K	10x
Short	dYdX AAVE-USD	146.28	0	get 0.0000% / 1h	19m 35s	$104K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$21
Price spread: +0.011% → +0.002%: $0.85
Slippage, 4 orders: −$146.01
Fee Backpack: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$186.17
Costs to cover: 1.660%
Break-even: never at this rate

Slippage from Backpack: live order book, 54 min ago; dYdX: live order book, 54 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, 54 min ago	0.34 bp	6.4 bp −$6	74.9 bp −$749	doesn't fit	doesn't fit
Sell dYdX live order book, 54 min ago	67.60 bp	78.8 bp −$79	198.6 bp −$1,986	210.6 bp −$21.1K	221.1 bp −$110.5K

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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.37	+0.074%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0160%	1h	146.18	−0.055%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0092%	1h	146.25	−0.007%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0092%	1h	146.27	+0.007%	$255K	$369K	50x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	146.28	+0.011%	$104K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	146.34	+0.055%	$78K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.78	+0.356%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.35	+0.061%	$71K	—	150x	as long as short
Phemex AAVEUSDT	+0.0009%	8h	146.36	+0.068%	$4.2M	$3.8M	50x	as long as short
Gate AAVE_USDT	+0.0009%	8h	146.14	−0.082%	$7.9M	$15.3M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0021%	8h	146.11	−0.103%	$29.0M	$25.8M	200x	as long as short
Binance AAVEUSDT	+0.0021%	8h	146.10	−0.108%	$66.2M	$183.4M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.359%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.23	−0.022%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	146.27	+0.007%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.07	−0.130%	$17.9M	$66.2M	50x	as long as short
Bybit AAVEUSDT	+0.0068%	8h	146.04	−0.150%	$62.5M	$65.0M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0074%	1h	146.56	+0.205%	$136K	$231K	50x	as long as short
BloFin AAVE-USDT	+0.0084%	8h	146.49	+0.157%	$3.5M	$3.5M	100x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.74	+0.329%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.36	+0.070%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.14	−0.084%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.24	−0.014%	$800K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.26	0.000%	$79.7M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.26	−0.001%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.15	−0.072%	$334K	$503K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.17	−0.062%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.36	+0.066%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.20	−0.041%	$10.4M	$8.9M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.07	−0.130%	$30.3M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.11	−0.103%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPlong	+0.0100%	1h	146.26	long leg	$334K	$737K	10x
Variational Omni AAVE	+0.0100%	8h	146.44	+0.124%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.46	+0.139%	$106K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.48	+0.150%	$464K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.33	+0.048%	$127K	$415K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.29	+0.023%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.46	+0.136%	$712K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.08	−0.125%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.21	−0.038%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0233% / S −0.0363%	1h	146.34	+0.055%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.44	+0.123%	$785K	$2.9M	50x	as long as short