AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0166%/8h= +18.2% APRnext payment +$0.21 per $10,000 · paid last 24h −0.059%

Price spread now: Kraken Futures against Backpack−0.016%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.171%−$17 on $10k

Price spread, last 4 days (all we have)+0.519%+$52 · spread now −0.016%, 7d avg +0.013%

Together, before fees+0.348%+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.029% cheaper against Backpack than usual: you would sell low and buy high (spread −0.016% now, against its 7-day average of +0.013%). If the spread goes back, that is −$3 on $10k: about 14 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.171%, 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	144.48	0.0100	pay 0.0013% / 1h	16m 57s	$322K	$692K	10x
Short	Kraken Futures PF_AAVEUSD	144.46	0.0266	get 0.0033% / 1h	16m 57s	$3.5M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.016%Rate

Funding earned: $34.88
Price spread: −0.016% → +0.013%: −$2.88
Slippage, 4 orders: −$18.39
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$6.38
Costs to cover: 0.384%
Break-even: 8.3 days

Slippage from Backpack: live order book, 47 min ago; Kraken Futures: 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, 47 min ago	0.35 bp	6.7 bp −$7	106.5 bp −$1,065	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	3.81 bp	12.5 bp −$12	18.4 bp −$184	125.2 bp −$12.5K	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	−0.0048%	1h	144.37	−0.076%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.32	−0.110%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.30	−0.125%	$59K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.37	−0.076%	$229K	$389K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.42	−0.039%	$81K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.205%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.35	−0.087%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	144.39	−0.062%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0049%	1h	144.37	−0.080%	$834K	$433K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	144.46	−0.014%	$5K	$98K	10x	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	144.57	+0.060%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.37	−0.078%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.53	+0.035%	$78.2M	$35.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.43	−0.034%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.40	−0.054%	$329K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	144.35	−0.087%	$64.6M	$182.6M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.35	−0.090%	$61.6M	$64.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	144.29	−0.132%	$17.2M	$63.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.40	−0.055%	$45K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.91	−0.393%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.36	−0.083%	$7.9M	$15.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	144.35	−0.090%	$26.1M	$23.6M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.41	−0.048%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.34	−0.097%	$30.2M	$17.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.35	−0.090%	—	$43.8M	—	as long as short
Backpack AAVE_USDC_PERPlong	+0.0100%	1h	144.48	long leg	$322K	$692K	10x
Variational Omni AAVE	+0.0100%	8h	144.42	−0.043%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.42	−0.043%	$104K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.46	−0.015%	$461K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.44	−0.028%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.42	−0.042%	$128K	$422K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.37	−0.076%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.36	−0.083%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.50	+0.013%	$696K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.35	−0.090%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.29	−0.130%	$918K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.40	−0.054%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	144.43	−0.038%	$188K	$235K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	144.35	−0.090%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	144.43	−0.038%	$125K	—	100x	as long as short
Kraken Futures PF_AAVEUSDshort	+0.0266%	1h	144.46	−0.016%	$3.5M	$2.1M	50x
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	143.97	−0.353%	$783K	$2.8M	50x	as long as short