AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0308%/8h= +33.7% APRnext payment +$0.38 per $10,000 · paid last 24h +0.042%

Price spread now: GMX against Backpack−0.163%7-day average +0.027% · you buy dearer than you sell

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

Long on Backpack Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.160%−$16 on $10k

Price spread, last 4 days (all we have)+0.753%+$75 · spread now −0.163%, 7d avg +0.027%

Together, before fees+0.593%+$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.190% cheaper against Backpack than usual: you would sell low and buy high (spread −0.163% now, against its 7-day average of +0.027%). If the spread goes back, that is −$19 on $10k: about 2.1 days of funding at the current rate (+$9 a day). Mind the row above: over the last 3 days funding on this pair cost −0.160%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	142.77	0.0100	pay 0.0013% / 1h	54m 48s	$347K	$707K	10x
Short	GMX AAVE/USD [AAVE-USDC]	142.54	L +0.0261% / S −0.0408%	get 0.0051% / 1h	54m 48s	$121K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.163%Rate

Funding earned: $64.67
Price spread: −0.163% → +0.027%: −$19.04
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $23.63
Costs to cover: 0.220%
Break-even: 4.4 days

Slippage unknown: Backpack: live order book, 4 min ago; GMX: 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 Backpack live order book, 4 min ago	1.40 bp	8.2 bp −$8	115.7 bp −$1,157	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0128%	1h	142.52	−0.175%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0020%	1h	142.54	−0.161%	$5K	$303K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.65	−0.084%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.44	−0.231%	$53K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.58	−0.133%	$225K	$395K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.54	−0.161%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.069%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.42	−0.248%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	142.58	−0.133%	$18K	$10K	10x	as long as short
ApeX Omni AAVEUSDT	+0.0065%	1h	142.29	−0.336%	$132K	$219K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AAVE-PERP	+0.0085%	1h	142.41	−0.252%	$834K	$438K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.93	+0.112%	$4K	$102K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.75	−0.015%	$4.5M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.62	−0.107%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.78	+0.007%	$77.2M	$35.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.71	−0.046%	$1.3M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.66	−0.074%	$324K	$434K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.63	−0.099%	$64.0M	$184.1M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.59	−0.126%	$61.2M	$65.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.58	−0.133%	$17.0M	$63.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.56	−0.147%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.99	+0.156%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.71	−0.042%	$8.0M	$15.3M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.60	−0.119%	$25.4M	$23.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.71	−0.042%	$10.6M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.61	−0.112%	$29.1M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.68	−0.063%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPlong	+0.0100%	1h	142.77	long leg	$347K	$707K	10x
Variational Omni AAVE	+0.0100%	8h	142.65	−0.083%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.24	−0.369%	$102K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.15	−0.434%	$449K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.51	−0.182%	$122K	$385K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.46	−0.214%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.63	−0.097%	$686K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.60	−0.119%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.66	−0.079%	$906K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.59	−0.125%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.59	−0.127%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.53	−0.168%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]short	L +0.0261% / S −0.0408%	1h	142.54	−0.163%	$121K	—	100x
Kraken Futures PF_AAVEUSD	+0.0324%	1h	142.62	−0.103%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.82	+0.035%	$774K	$2.8M	50x	as long as short