Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against Backpack−0.048%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.048% cheaper against Backpack than usual: you would sell low and buy high, −$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	144.24	0.0100	pay 0.0013% / 1h	31m 41s	$324K	$746K	10x
Short	Paradex AAVE-USD-PERP	144.17	0.0100	get 0.0100% / 8h	6h 31m	$13K	$4K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$0.04
Price spread: −0.048% → 0.000%: −$4.82
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$18.86
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 37 min ago; Paradex: 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, 37 min ago	1.03 bp	7.5 bp −$7	140.9 bp −$1,409	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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 41 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	−0.0513%	1h	144.09	−0.104%	$250K	$362K	50x	as long as short
01 Exchange AAVEUSD	−0.0056%	1h	144.25	+0.007%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.23	−0.006%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.24	−0.001%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.08	−0.111%	$65K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.24	+0.002%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.01	−0.159%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.047%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.24	0.000%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.24	−0.001%	—	—	20x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0051%	8h	144.14	−0.069%	$27.0M	$24.8M	200x	as long as short
Binance AAVEUSDT	+0.0052%	8h	144.24	+0.001%	$65.0M	$184.8M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0069%	8h	144.15	−0.062%	$17.4M	$65.5M	50x	as long as short
Gate AAVE_USDT	+0.0088%	8h	144.24	0.000%	$7.7M	$15.1M	75x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.30	+0.038%	$186K	$230K	10x	as long as short
SoDEX AAVE-USD	+0.0092%	1h	144.13	−0.076%	$5K	$298K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.32	+0.054%	$4.6M	$1.5M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.24	+0.003%	$122K	$146	10x	as long as short
Paradex AAVE-USD-PERPshort	+0.0100%	8h	144.17	−0.048%	$13K	$4K	20x
Nado AAVE-PERP	+0.0100%	1h	144.15	−0.062%	$802K	$425K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.28	+0.028%	$78.2M	$35.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.24	−0.003%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.19	−0.035%	$329K	$436K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.23	−0.007%	$61.8M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.25	+0.007%	$45K	$192K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.50	−0.515%	$58K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.21	−0.021%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.21	−0.021%	$30.0M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.24	0.000%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPlong	+0.0100%	1h	144.24	long leg	$324K	$746K	10x
Variational Omni AAVE	+0.0100%	8h	143.89	−0.241%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.91	−0.230%	$104K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.87	−0.254%	$452K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.98	−0.180%	$134K	$230K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.30	+0.042%	$125K	$418K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.20	−0.031%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.55	+0.216%	$700K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.12	−0.083%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.19	−0.036%	$917K	$1.7M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0236% / S −0.0359%	1h	144.27	+0.023%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.29	+0.035%	$773K	$2.8M	50x	as long as short