Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.306%

Price spread now: Deribit against BingX+0.206%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.481%−$48 on $10k

Price spread, last 3 days (all we have)+0.104%+$10 · spread now +0.206%, 7d avg −0.012%

Together, before fees−0.377%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.218% dearer against BingX than usual: you sell high and buy low (spread +0.206% now, against its 7-day average of −0.012%): +$22 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 5.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AAVE-USDT	145.75	0.0100	pay 0.0100% / 8h	9m 53s	—	$44.1M	—
Short	Deribit AAVE_USDC-PERPETUAL	146.05	−0.0024	pay 0.0003% / 1h	9m 53s	$255K	$391K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.206%Rate

Funding earned: −$26.04
Price spread: +0.206% → −0.012%: $21.78
Slippage, 4 orders: −$16.23
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$37.48
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; Deribit: live order book, 64 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, 4 min ago	0.68 bp	6.1 bp −$6	8.4 bp −$84	20.4 bp −$2,037	42.6 bp −$21.3K
Sell Deribit live order book, 64 min ago	5.17 bp	8.7 bp −$9	doesn't fit	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
SoDEX AAVE-USD	−0.0116%	1h	145.88	+0.089%	$5K	$305K	10x	as long as short
01 Exchange AAVEUSD	−0.0040%	1h	146.22	+0.322%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0027%	1h	146.26	+0.350%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUALshort	−0.0024%	1h	146.05	+0.206%	$255K	$391K	50x
dYdX AAVE-USD	0.0000%	1h	146.08	+0.226%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.79	+0.027%	$83K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.00	+0.175%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.21	+0.312%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0032%	8h	145.74	−0.007%	$29.7M	$26.1M	200x	as long as short
Binance AAVEUSDT	+0.0032%	8h	145.74	−0.007%	$66.5M	$186.9M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.031%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.04	+0.202%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	146.00	+0.172%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0068%	8h	145.74	−0.007%	$17.9M	$67.5M	50x	as long as short
Gate AAVE_USDT	+0.0074%	8h	145.77	+0.014%	$7.9M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.98	+0.159%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.09	+0.235%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.13	+0.260%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.15	+0.274%	$804K	$445K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.96	+0.144%	$80.5M	$34.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.85	+0.070%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.14	+0.266%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.75	0.000%	$62.1M	$65.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.20	+0.309%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.23	+0.332%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.77	+0.014%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.76	+0.007%	$30.3M	$18.2M	75x	as long as short
BingX AAVE-USDTlong	+0.0100%	8h	145.75	long leg	—	$44.1M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.90	+0.103%	$346K	$744K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.93	+0.126%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.13	+0.261%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.16	+0.284%	$461K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.12	+0.254%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.24	+0.336%	$128K	$454K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.17	+0.290%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.09	+0.237%	$691K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.99	+0.165%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.71	−0.030%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.25	+0.343%	$185K	$247K	10x	as long as short
BloFin AAVE-USDT	+0.0130%	8h	145.93	+0.123%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.17	+0.289%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.27	+0.357%	$789K	$3.0M	50x	as long as short