Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0154%/8h= −16.8% APRpaid last 24h −0.027%

Price spread now: SoDEX against Binance+0.056%55s7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.252% of the position

Long on Binance Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.054%−$5 on $10k

Price spread, last 4 days (all we have)+0.226%+$23 · spread now +0.056%, 7d avg −0.019%

Together, before fees+0.172%+$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.075% dearer against Binance than usual: you sell high and buy low (spread +0.056% now, against its 7-day average of −0.019%): +$7 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 39 hours. At the pace of the last 3 days (−0.054% in total) that is about 4.6 days. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AAVEUSDT	142.00	0.0100	pay 0.0100% / 8h	4h 50m	$63.6M	$184.3M	75x
Short	SoDEX AAVE-USD	142.08	−0.0054	pay 0.0007% / 1h	50m 21s	$5K	$298K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.056%Rate

Funding earned: −$32.3
Price spread: +0.056% → −0.019%: $7.49
Slippage, 4 orders: −$7.17
Fee Binance: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$49.98
Costs to cover: 0.252%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; SoDEX: live order book, 8 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 Binance live order book, 8 min ago	0.35 bp	6.9 bp −$7	12.5 bp −$125	47.7 bp −$4,765	doesn't fit
Sell SoDEX live order book, 8 min ago	0.35 bp	5.0 bp −$5	10.7 bp −$107	98.7 bp −$9,867	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	−0.0160%	1h	141.96	−0.028%	$10K	$2K	5x	as long as short
SoDEX AAVE-USDshort	−0.0054%	1h	142.08	+0.056%	$5K	$298K	10x
Deribit AAVE_USDC-PERPETUAL	−0.0031%	1h	142.10	+0.070%	$223K	$396K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.07	+0.053%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.99	−0.007%	$53K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.05	+0.037%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.549%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.98	−0.016%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	141.94	−0.042%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	142.67	+0.472%	$4K	$102K	10x	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	+0.0070%	1h	142.01	+0.007%	$832K	$438K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.06	+0.041%	$4.5M	$1.7M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.12	+0.085%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.10	+0.070%	$76.8M	$35.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.03	+0.019%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.09	+0.064%	$323K	$434K	10x	as long as short
Binance AAVEUSDTlong	+0.0100%	8h	142.00	long leg	$63.6M	$184.3M	75x
Bybit AAVEUSDT	+0.0100%	8h	142.01	+0.007%	$61.0M	$65.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.98	−0.014%	$17.0M	$63.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.02	+0.014%	$44K	$179K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.04	+0.028%	$7.9M	$15.4M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.99	−0.007%	$25.4M	$23.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.04	+0.028%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.91	−0.063%	$28.9M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.98	−0.014%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.28	+0.197%	$346K	$705K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.06	+0.042%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.49	+0.346%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.52	+0.366%	$450K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.48	+0.338%	$132K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.04	+0.028%	$122K	$383K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.07	+0.052%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.46	+0.321%	$685K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.11	+0.077%	$4.0M	$3.7M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.68	+0.477%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.94	−0.044%	$895K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.13	+0.089%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.04	+0.029%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.12	+0.085%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0261% / S −0.0408%	1h	142.06	+0.039%	$120K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0325%	1h	142.19	+0.132%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.82	+0.577%	$774K	$2.8M	50x	as long as short