Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h +0.006%

Price spread now: Nado against BingX−0.011%7-day average −0.015% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$460.464% of the position

Long on BingX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.008%+$1 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now −0.011%, 7d avg −0.015%

Together, before fees+0.151%+ Points / potential airdropNado: Active · farm board+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AAVE-USDC	142.41	0.0100	pay 0.0100% / 8h	1h 43m	—	$6.5M	—
Short	Nado AAVE-PERP	142.39	0.0061	get 0.0008% / 1h	43m 01s	$825K	$401K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.011%Rate

Funding earned: −$8.28
Price spread: −0.011% → −0.015%: $0.48
Slippage, 4 orders: −$29.43
Fee BingX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$54.23
Costs to cover: 0.464%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Nado: live order book, 65 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	0.70 bp	15.0 bp −$15	32.7 bp −$327	210.8 bp −$21.1K	632.2 bp −$316.1K
Sell Nado live order book, 65 min ago	1.05 bp	6.7 bp −$7	13.4 bp −$134	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
dYdX AAVE-USD	0.0000%	1h	142.51	+0.067%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.46	+0.035%	$51K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.43	+0.014%	$217K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.50	+0.064%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.827%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.44	+0.019%	—	—	20x	as long as short
Nado AAVE-PERPshort	+0.0061%	1h	142.39	−0.011%	$825K	$401K	10x
Orderly PERP_AAVE_USDC	+0.0077%	8h	142.48	+0.049%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.80	+0.274%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.53	+0.085%	$4.5M	$2.4M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.39	−0.016%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.44	+0.021%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.49	+0.056%	$325K	$449K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.40	−0.007%	$64.2M	$192.1M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.39	−0.014%	$61.2M	$68.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.41	0.000%	$17.0M	$65.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.60	+0.133%	$64K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.88	+0.332%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.41	0.000%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.41	0.000%	$24.9M	$24.0M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.43	+0.014%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.38	−0.021%	$29.1M	$18.4M	75x	as long as short
BingX AAVE-USDClong	+0.0100%	8h	142.41	long leg	—	$6.5M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.50	+0.063%	$335K	$723K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.34	−0.049%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.55	+0.100%	$107K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.76	+0.244%	$452K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.58	+0.119%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.53	+0.084%	$141K	$471K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.45	+0.025%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.41	0.000%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	+0.288%	$678K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.43	+0.014%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.41	−0.001%	$906K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.45	+0.032%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0136%	1h	142.55	+0.098%	$10K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0194%	1h	142.56	+0.105%	$77.9M	$37.3M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.47	+0.042%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.52	+0.077%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.55	+0.097%	$195K	$262K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.70	+0.204%	$756K	$2.9M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0316%	1h	142.51	+0.073%	$3.4M	$2.1M	50x	as long as short