Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: Backpack against Bitget+0.014%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$380.375% of the position

Long on Bitget Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now +0.014%, 7d avg +0.033%

Together, before fees+0.048%+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AAVEUSDT	144.47	0.0100	pay 0.0100% / 8h	6h 52m	$29.9M	$18.1M	75x
Short	Backpack AAVE_USDC_PERP	144.49	0.0100	get 0.0013% / 1h	52m 05s	$328K	$747K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → +0.033%: −$1.89
Slippage, 4 orders: −$15.52
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$39.41
Costs to cover: 0.375%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Backpack: live order book, 17 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 Bitget live order book, 2 min ago	1.04 bp	10.9 bp −$11	17.4 bp −$174	65.7 bp −$6,570	doesn't fit
Sell Backpack live order book, 17 min ago	1.03 bp	7.4 bp −$7	375.8 bp −$3,758	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
Deribit AAVE_USDC-PERPETUAL	−0.2660%	1h	143.90	−0.395%	$250K	$362K	50x	as long as short
01 Exchange AAVEUSD	−0.0064%	1h	144.43	−0.028%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.45	−0.015%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.21	−0.178%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.08	−0.270%	$65K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.25	−0.149%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	143.78	−0.478%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.198%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0034%	8h	144.42	−0.035%	$27.7M	$24.6M	200x	as long as short
Binance AAVEUSDT	+0.0035%	8h	144.37	−0.069%	$65.2M	$185.4M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX AAVE-USD	+0.0040%	1h	144.33	−0.097%	$5K	$302K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.24	−0.159%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.26	−0.144%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0061%	8h	144.46	−0.007%	$17.4M	$66.1M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.30	−0.121%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.41	−0.039%	$183K	$245K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.53	+0.044%	$4.6M	$1.4M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.24	−0.160%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.39	−0.052%	$799K	$427K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.46	−0.007%	$78.5M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.31	−0.108%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.19	−0.192%	$329K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.46	−0.007%	$61.8M	$65.3M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.37	−0.069%	$45K	$236K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.56	+0.062%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.37	−0.069%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.42	−0.035%	$10.9M	$9.1M	75x	as long as short
Bitget AAVEUSDTlong	+0.0100%	8h	144.47	long leg	$29.9M	$18.1M	75x
BingX AAVE-USDC	+0.0100%	8h	144.42	−0.035%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	144.49	+0.014%	$328K	$747K	10x
Variational Omni AAVE	+0.0100%	8h	143.57	−0.621%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.39	−0.053%	$104K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.78	−0.478%	$452K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.40	−0.048%	$134K	$231K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.44	−0.021%	$125K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.20	−0.188%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.59	+0.086%	$703K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.33	−0.097%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.26	−0.146%	$922K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0139%	8h	144.03	−0.305%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0366%	1h	144.24	−0.158%	$129K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.47	0.000%	$774K	$2.8M	50x	as long as short