Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.048%

Price spread now: Coinbase International against BingX+0.247%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$380.382% of the position

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.164%+$16 on $10k

Price spread, last 3 days (all we have)−0.013%−$1 · spread now +0.247%, 7d avg +0.076%

Together, before fees+0.151%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Coinbase International is 0.171% dearer against BingX than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AAVE-USDT	145.72	0.0100	pay 0.0100% / 8h	59m 17s	—	$44.0M	—
Short	Coinbase International AAVE-PERP-INTX	146.08	0.0280	get 0.0035% / 1h	59m 17s	$793K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. 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 BingXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.247%Rate

Funding earned: $37.8
Price spread: +0.247% → +0.076%: $17.14
Slippage, 4 orders: −$18.24
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $16.7
Costs to cover: 0.382%
Break-even: 3.9 days

Slippage from BingX: live order book, 5 min ago; Coinbase International: live order book, 5 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 BingX live order book, 5 min ago	0.69 bp	6.0 bp −$6	8.6 bp −$86	21.1 bp −$2,111	45.6 bp −$22.8K
Sell Coinbase International live order book, 5 min ago	3.77 bp	13.7 bp −$14	19.0 bp −$190	doesn't fit	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
Deribit AAVE_USDC-PERPETUAL	−0.0162%	1h	145.73	+0.007%	$255K	$417K	50x	as long as short
Phoenix AAVE	−0.0045%	1h	145.88	+0.110%	$5K	$99K	10x	as long as short
SoDEX AAVE-USD	−0.0013%	1h	145.73	+0.007%	$5K	$298K	10x	as long as short
01 Exchange AAVEUSD	−0.0008%	1h	145.77	+0.034%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.83	+0.078%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.83	+0.075%	$68K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	145.82	+0.072%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.78	+0.038%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.012%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0041%	8h	145.74	+0.014%	$30.6M	$25.5M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0042%	8h	145.73	+0.007%	$66.4M	$185.0M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.65	−0.045%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	145.71	−0.007%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	145.72	0.000%	$17.8M	$67.2M	50x	as long as short
Gate AAVE_USDT	+0.0071%	8h	145.71	−0.007%	$7.8M	$15.7M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.65	−0.045%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.95	+0.159%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.81	+0.061%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.74	+0.014%	$806K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.84	+0.082%	$80.2M	$33.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.75	+0.018%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.87	+0.100%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.73	+0.007%	$62.2M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.77	+0.034%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	+0.048%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.76	+0.027%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.72	0.000%	$30.5M	$18.2M	75x	as long as short
BingX AAVE-USDTlong	+0.0100%	8h	145.72	long leg	—	$44.0M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.90	+0.124%	$351K	$724K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.55	−0.120%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.58	−0.097%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.61	−0.076%	$460K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.49	−0.158%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.76	+0.027%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.73	+0.008%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.83	+0.078%	$698K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.73	+0.007%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.70	−0.013%	$935K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	145.81	+0.064%	$185K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0162%	8h	145.72	0.000%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.77	+0.035%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXshort	+0.0280%	1h	146.08	+0.247%	$793K	$3.0M	50x