Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.016%

Price spread now: Gate against Backpack−0.083%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$470.472% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.083%, 7d avg −0.019%

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: Gate is 0.064% cheaper against Backpack than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	144.49	0.0100	pay 0.0013% / 1h	52m 00s	$328K	$747K	10x
Short	Gate AAVE_USDT	144.37	0.0100	get 0.0100% / 8h	6h 52m	$7.8M	$15.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.083%Rate

Funding earned: $0
Price spread: −0.083% → −0.019%: −$6.39
Slippage, 4 orders: −$22.22
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$53.61
Costs to cover: 0.472%
Break-even: never at this rate

Slippage from Backpack: live order book, 17 min ago; Gate: live order book, 2 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, 17 min ago	1.03 bp	7.5 bp −$7	140.9 bp −$1,409	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	3.12 bp	17.9 bp −$18	32.1 bp −$321	40.9 bp −$4,089	45.7 bp −$22.8K

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	−0.2660%	1h	143.90	−0.408%	$250K	$362K	50x	as long as short
01 Exchange AAVEUSD	−0.0064%	1h	144.43	−0.042%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.45	−0.029%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.21	−0.191%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.08	−0.284%	$65K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.25	−0.163%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	143.78	−0.491%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.211%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0034%	8h	144.35	−0.097%	$27.6M	$24.6M	200x	as long as short
Binance AAVEUSDT	+0.0035%	8h	144.41	−0.055%	$65.2M	$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
SoDEX AAVE-USD	+0.0040%	1h	144.33	−0.111%	$5K	$302K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.24	−0.173%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.26	−0.157%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0061%	8h	144.34	−0.104%	$17.4M	$66.1M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.30	−0.135%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.41	−0.053%	$183K	$245K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.53	+0.030%	$4.6M	$1.4M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.24	−0.174%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.39	−0.066%	$799K	$427K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.46	−0.021%	$78.5M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.23	−0.183%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.19	−0.206%	$329K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.40	−0.062%	$61.8M	$65.3M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.37	−0.083%	$45K	$236K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.56	+0.048%	$58K	$2K	10x	as long as short
Gate AAVE_USDTshort	+0.0100%	8h	144.37	−0.083%	$7.8M	$15.0M	75x
KuCoin AAVEUSDTM	+0.0100%	8h	144.49	0.000%	$10.8M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.35	−0.097%	$29.9M	$18.1M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.45	−0.028%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERPlong	+0.0100%	1h	144.49	long leg	$328K	$747K	10x
Variational Omni AAVE	+0.0100%	8h	143.57	−0.635%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.39	−0.067%	$104K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.78	−0.491%	$452K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.40	−0.062%	$134K	$231K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.44	−0.035%	$125K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.20	−0.202%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.59	+0.072%	$703K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.33	−0.111%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.30	−0.133%	$922K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0139%	8h	144.03	−0.318%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0366%	1h	144.24	−0.172%	$129K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.47	−0.014%	$774K	$2.8M	50x	as long as short