Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h −0.055%

Price spread now: Kraken Futures against BingX+0.130%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$570.566% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.144%−$14 on $10k

Price spread, last 3 days (all we have)+0.158%+$16 · spread now +0.130%, 7d avg +0.038%

Together, before fees+0.014%+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.092% dearer against BingX than usual: you sell high and buy low (spread +0.130% now, against its 7-day average of +0.038%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AAVE-USDT	146.35	0.0100	pay 0.0100% / 8h	55m 25s	—	$44.0M	—
Short	Kraken Futures PF_AAVEUSD	146.54	0.0002	get 0.0000% / 1h	55m 25s	$3.5M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.130%Rate

Funding earned: −$20.53
Price spread: +0.130% → +0.038%: $9.2
Slippage, 4 orders: −$36.58
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$67.9
Costs to cover: 0.566%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Kraken Futures: live order book, 3 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, 8 min ago	0.69 bp	6.0 bp −$6	8.6 bp −$86	21.1 bp −$2,111	45.6 bp −$22.8K
Sell Kraken Futures live order book, 3 min ago	11.63 bp	24.0 bp −$24	36.8 bp −$368	166.3 bp −$16.6K	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
Phoenix AAVE	−0.0045%	1h	146.30	−0.034%	$5K	$99K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.42	+0.047%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.28	−0.048%	$85K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	146.45	+0.068%	$256K	$412K	50x	as long as short
SoDEX AAVE-USD	+0.0001%	1h	146.45	+0.068%	$5K	$298K	10x	as long as short
Kraken Futures PF_AAVEUSDshort	+0.0002%	1h	146.54	+0.130%	$3.5M	$2.1M	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.45	+0.071%	$71K	—	150x	as long as short
01 Exchange AAVEUSD	+0.0008%	1h	146.43	+0.055%	$11K	$2K	5x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.416%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0042%	8h	146.33	−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	146.37	+0.014%	$66.7M	$185.0M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.34	−0.010%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	146.39	+0.027%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0066%	8h	146.39	+0.027%	$17.9M	$67.6M	50x	as long as short
Gate AAVE_USDT	+0.0076%	8h	146.39	+0.027%	$7.9M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.43	+0.058%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.53	+0.124%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.39	+0.029%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.28	−0.048%	$809K	$438K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.43	+0.056%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.35	−0.001%	$334K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.39	+0.027%	$62.5M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.39	+0.027%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.383%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.35	0.000%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.39	+0.027%	$30.6M	$18.2M	75x	as long as short
BingX AAVE-USDTlong	+0.0100%	8h	146.35	long leg	—	$44.0M	—
Variational Omni AAVE	+0.0100%	8h	145.55	−0.550%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.12	−0.156%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.17	−0.123%	$463K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.22	−0.089%	$136K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.45	+0.068%	$128K	$466K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.34	−0.005%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.40	+0.031%	$701K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.36	+0.007%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.33	−0.014%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.43	+0.053%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0163%	8h	146.17	−0.123%	$3.5M	$4.0M	100x	as long as short
Hyperliquid AAVE	+0.0261%	1h	146.57	+0.150%	$80.9M	$34.2M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.45	+0.065%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.43	+0.055%	$795K	$3.1M	50x	as long as short
Backpack AAVE_USDC_PERP	+0.0298%	1h	146.54	+0.130%	$354K	$733K	10x	as long as short