Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.019%

Price spread now: dYdX against BingX+0.071%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$403as in the Funding arb table

Net, price: spread back to 7d avg − costs−$381as in the Price arb table

costs, in and out, $10k−$3863.858% of the position

Long on BingX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.169%−$17 on $10k

Price spread, last 4 days (all we have)+0.115%+$11 · spread now +0.071%, 7d avg +0.023%

Together, before fees−0.054%−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.048% dearer against BingX than usual: you sell high and buy low (spread +0.071% now, against its 7-day average of +0.023%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AAVE-USDC	145.20	0.0100	pay 0.0100% / 8h	2h 49m	—	$6.5M	—
Short	dYdX AAVE-USD	145.30	0	get 0.0000% / 1h	49m 15s	$104K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.071%Rate

Funding earned: −$21
Price spread: +0.071% → +0.023%: $4.78
Slippage, 4 orders: −$365.8
Fee BingX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$402.03
Costs to cover: 3.858%
Break-even: never at this rate

Slippage from BingX: live order book, 16 min ago; dYdX: live order book, 39 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, 16 min ago	0.68 bp	14.3 bp −$14	38.3 bp −$383	250.8 bp −$25.1K	654.4 bp −$327.2K
Sell dYdX live order book, 39 min ago	163.65 bp	169.3 bp −$169	169.3 bp −$1,693	171.8 bp −$17.2K	425.7 bp −$212.8K

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	−0.0301%	1h	145.20	0.000%	$250K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0161%	1h	145.24	+0.028%	$5K	$311K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.26	+0.041%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	145.11	−0.062%	$4K	$101K	10x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	145.30	+0.071%	$104K	$5K	10x
Kalshi KXAAVEPERP	0.0000%	8h	145.26	+0.041%	$74K	$1.6M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.28	+0.054%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	145.38	+0.123%	$3.5M	$2.0M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0019%	1h	145.02	−0.124%	$135K	$229K	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.675%	$422	$51K	12x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	145.22	+0.017%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	145.16	−0.028%	$17.7M	$65.7M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0058%	8h	145.15	−0.034%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0068%	8h	145.18	−0.014%	$7.8M	$15.6M	75x	as long as short
Nado AAVE-PERP	+0.0078%	1h	145.18	−0.017%	$810K	$442K	10x	as long as short
Binance AAVEUSDT	+0.0080%	8h	145.16	−0.029%	$66.0M	$181.7M	75x	as long as short
MEXC AAVE_USDT	+0.0080%	8h	145.16	−0.028%	$32.2M	$26.0M	200x	as long as short
Lighter AAVE	+0.0096%	1h	145.39	+0.129%	$4.7M	$1.6M	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	145.31	+0.077%	$181K	$242K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.23	+0.019%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.38	+0.124%	$81.2M	$32.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.24	+0.031%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.30	+0.070%	$331K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.20	0.000%	$61.9M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.28	+0.055%	$51K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.14	−0.043%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.27	+0.048%	$10.3M	$8.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.19	−0.007%	$30.3M	$18.1M	75x	as long as short
BingX AAVE-USDClong	+0.0100%	8h	145.20	long leg	—	$6.5M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.20	0.000%	$346K	$685K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.98	−0.154%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.27	+0.047%	$100K	$312K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.95	−0.174%	$459K	$4.1M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.26	+0.041%	$127K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.17	−0.018%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.37	+0.118%	$738K	$4.8M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.24	+0.028%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.14	−0.040%	$936K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	145.23	+0.021%	$123K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0200%	8h	145.11	−0.062%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	145.40	+0.138%	$782K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	145.26	+0.042%	$125K	—	100x	as long as short