Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0262%/8h= +28.7% APRpaid last 24h +0.083%

Price spread now: GMX against Binance−0.016%7-day average +0.035% · you buy dearer than you sell

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.111%−$11 on $10k

Price spread, last 4 days (all we have)+0.184%+$18 · spread now −0.016%, 7d avg +0.035%

Together, before fees+0.072%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.051% cheaper against Binance than usual: you would sell low and buy high (spread −0.016% now, against its 7-day average of +0.035%). If the spread goes back, that is −$5 on $10k: about 16 hours of funding at the current rate (+$8 a day). Mind the row above: over the last 3 days funding on this pair cost −0.111%, 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	Binance AAVEUSDT	142.28	0.0100	pay 0.0100% / 8h	2h 39m	$63.5M	$189.6M	75x
Short	GMX AAVE/USD [AAVE-USDC]	142.25	L +0.0252% / S −0.0362%	get 0.0045% / 1h	39m 56s	$111K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now −0.016%Rate

Funding earned: $55.05
Price spread: −0.016% → +0.035%: −$5.15
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $27.91
Costs to cover: 0.220%
Break-even: 3.5 days

Slippage unknown: Binance: live order book, 3 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 Binance live order book, 3 min ago	0.35 bp	7.5 bp −$7	14.9 bp −$149	56.1 bp −$5,608	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
Deribit AAVE_USDC-PERPETUAL	−0.0031%	1h	142.30	+0.018%	$217K	$393K	50x	as long as short
Nado AAVE-PERP	−0.0011%	1h	142.17	−0.074%	$828K	$402K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.15	−0.085%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.63	+0.249%	$55K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.28	+0.003%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.736%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.16	−0.078%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0065%	8h	142.28	+0.003%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0083%	8h	142.36	+0.060%	$4.0M	$3.6M	50x	as long as short
01 Exchange AAVEUSD	+0.0088%	1h	142.19	−0.060%	$10K	$2K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.07	−0.145%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.50	+0.155%	$77.9M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.31	+0.024%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.14	−0.095%	$325K	$447K	10x	as long as short
Binance AAVEUSDTlong	+0.0100%	8h	142.28	long leg	$63.5M	$189.6M	75x
Bybit AAVEUSDT	+0.0100%	8h	142.21	−0.046%	$61.0M	$68.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.22	−0.039%	$17.0M	$64.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.22	−0.039%	$63K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.52	+0.174%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.33	+0.039%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.33	+0.039%	$25.4M	$24.0M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.34	+0.046%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.23	−0.032%	$29.1M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.25	−0.018%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.47	+0.137%	$334K	$727K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.41	+0.096%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.70	+0.297%	$105K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.99	+0.503%	$448K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.65	+0.264%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.25	−0.018%	$133K	$459K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.28	+0.004%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.29	+0.011%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.43	+0.107%	$680K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.19	−0.057%	$903K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.32	+0.035%	$120K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	143.00	+0.510%	$4K	$106K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.20	−0.056%	$185K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.43	+0.109%	$3.3M	$3.5M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0238%	1h	142.36	+0.062%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]short	L +0.0252% / S −0.0362%	1h	142.25	−0.016%	$111K	—	100x
Lighter AAVE	+0.0296%	1h	142.51	+0.165%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	142.24	−0.025%	$782K	$2.8M	50x	as long as short