Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0227%/8h= −24.9% APRpaid last 24h −0.045%

Price spread now: SoDEX against BingX−0.007%7-day average −0.006% · 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−$23as in the Price arb table

costs, in and out, $10k−$230.234% of the position

Long on BingX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.068%−$7 on $10k

Price spread, last 3 days (all we have)+0.284%+$28 · spread now −0.007%, 7d avg −0.006%

Together, before fees+0.216%+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.068% in total (about -7.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AAVE-USDT	145.81	0.0100	pay 0.0100% / 8h	3m 13s	—	$44.1M	—
Short	SoDEX AAVE-USD	145.80	−0.0127	pay 0.0016% / 1h	3m 13s	$5K	$305K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$47.67
Price spread: −0.007% → −0.006%: −$0.08
Slippage, 4 orders: −$5.4
Fee BingX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$71.14
Costs to cover: 0.234%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; SoDEX: live order book, 10 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, 11 min ago	0.68 bp	6.1 bp −$6	8.4 bp −$84	20.4 bp −$2,037	42.6 bp −$21.3K
Sell SoDEX live order book, 10 min ago	0.34 bp	4.9 bp −$5	9.4 bp −$94	92.7 bp −$9,275	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-USDshort	−0.0127%	1h	145.80	−0.007%	$5K	$305K	10x
01 Exchange AAVEUSD	−0.0056%	1h	145.85	+0.027%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0027%	1h	145.43	−0.261%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	145.84	+0.021%	$255K	$391K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.67	−0.098%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.66	−0.103%	$77K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	145.94	+0.089%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.88	+0.051%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0027%	8h	145.82	+0.007%	$29.7M	$26.1M	200x	as long as short
Binance AAVEUSDT	+0.0029%	8h	145.83	+0.014%	$66.2M	$187.8M	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	−6.070%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.81	+0.003%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	145.80	−0.007%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0066%	8h	145.80	−0.007%	$17.9M	$67.7M	50x	as long as short
Gate AAVE_USDT	+0.0074%	8h	145.84	+0.021%	$7.9M	$16.0M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.83	+0.010%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.85	+0.029%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.66	−0.104%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.81	0.000%	$801K	$446K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.96	+0.103%	$80.2M	$35.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.84	+0.023%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.75	−0.041%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.84	+0.021%	$62.2M	$66.1M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.85	+0.027%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.59	−0.153%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.83	+0.014%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.82	+0.007%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDTlong	+0.0100%	8h	145.81	long leg	—	$44.1M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.76	−0.034%	$348K	$747K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.20	−0.422%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.56	−0.169%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.40	−0.280%	$454K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.31	−0.343%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.89	+0.055%	$128K	$455K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.78	−0.018%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.90	+0.060%	$690K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.80	−0.007%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.76	−0.032%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	145.89	+0.054%	$185K	$247K	10x	as long as short
BloFin AAVE-USDT	+0.0110%	8h	145.45	−0.247%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.87	+0.039%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	145.81	0.000%	$794K	$3.0M	50x	as long as short