Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0196%/8h= +21.5% APRpaid last 24h +0.061%

Price spread now: Coinbase International against Bybit+0.117%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$440.441% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.256%+$26 on $10k

Price spread, last 3 days (all we have)−0.035%−$3 · spread now +0.117%, 7d avg +0.091%

Together, before fees+0.222%+$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.026% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAVEUSDT	145.91	0.0100	pay 0.0100% / 8h	7h 41m	$62.4M	$65.6M	75x
Short	Coinbase International AAVE-PERP-INTX	146.08	0.0296	get 0.0037% / 1h	41m 10s	$786K	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.117%Rate

Funding earned: $41.16
Price spread: +0.117% → +0.091%: $2.59
Slippage, 4 orders: −$23.14
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$0.39
Costs to cover: 0.441%
Break-even: 7.1 days

Slippage from Bybit: live order book, 3 min ago; Coinbase International: 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 Bybit live order book, 3 min ago	0.34 bp	9.2 bp −$9	16.3 bp −$163	59.4 bp −$5,936	doesn't fit
Sell Coinbase International live order book, 3 min ago	5.47 bp	13.7 bp −$14	17.6 bp −$176	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.12	+0.144%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0128%	1h	145.98	+0.048%	$11K	$2K	5x	as long as short
Phemex AAVEUSDT	−0.0107%	8h	145.98	+0.048%	$4.1M	$3.8M	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0092%	1h	146.01	+0.069%	$255K	$373K	50x	as long as short
SoDEX AAVE-USD	−0.0073%	1h	145.97	+0.041%	$5K	$305K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.21	+0.206%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.94	+0.021%	$77K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.21	+0.206%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.04	+0.091%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0024%	8h	145.94	+0.021%	$29.2M	$25.7M	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	+0.0024%	8h	145.93	+0.013%	$66.1M	$186.8M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.134%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.95	+0.026%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	145.98	+0.048%	$18K	$10K	10x	as long as short
ApeX Omni AAVEUSDT	+0.0049%	1h	145.80	−0.075%	$136K	$230K	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0064%	8h	145.89	−0.014%	$17.9M	$67.2M	50x	as long as short
Gate AAVE_USDT	+0.0086%	8h	146.00	+0.062%	$7.9M	$15.2M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.00	+0.061%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.13	+0.151%	$4.7M	$1.5M	10x	as long as short
BloFin AAVE-USDT	+0.0096%	8h	145.90	−0.007%	$3.5M	$4.1M	100x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.98	+0.050%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.98	+0.046%	$798K	$446K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.11	+0.137%	$79.7M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.02	+0.074%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.11	+0.136%	$333K	$503K	10x	as long as short
Bybit AAVEUSDTlong	+0.0100%	8h	145.91	long leg	$62.4M	$65.6M	75x
Arcus AAVE-USD	+0.0100%	1h	146.00	+0.062%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.05	+0.096%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.96	+0.034%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.98	+0.048%	$30.3M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.97	+0.041%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.42	+0.350%	$347K	$734K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.08	+0.118%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.12	+0.144%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.12	+0.142%	$462K	$3.9M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.05	+0.096%	$128K	$433K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.96	+0.037%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.12	+0.140%	$698K	$5.1M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.93	+0.017%	$932K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.03	+0.085%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	146.01	+0.068%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXshort	+0.0296%	1h	146.08	+0.117%	$786K	$3.1M	50x