Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.296%

Price spread now: Deribit against Bybit0.000%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

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

costs, in and out, $10k−$380.383% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.395%−$39 on $10k

Price spread, last 3 days (all we have)+0.143%+$14 · spread now 0.000%, 7d avg +0.003%

Together, before fees−0.252%−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAVEUSDT	146.13	0.0086	pay 0.0086% / 8h	7h 17m	$62.6M	$65.0M	75x
Short	Deribit AAVE_USDC-PERPETUAL	146.13	0	get 0.0000% / 1h	17m 42s	$255K	$369K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$18.08
Price spread: 0.000% → +0.003%: −$0.28
Slippage, 4 orders: −$20.32
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$56.68
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Deribit: live order book, 51 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, 1 min ago	0.34 bp	8.9 bp −$9	17.1 bp −$171	64.9 bp −$6,486	doesn't fit
Sell Deribit live order book, 51 min ago	4.12 bp	7.6 bp −$8	14.6 bp −$146	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	146.27	+0.093%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0160%	1h	146.11	−0.014%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0096%	1h	146.09	−0.027%	$5K	$305K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.19	+0.040%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.07	−0.041%	$77K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.58	+0.308%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUALshort	0.0000%	1h	146.13	0.000%	$255K	$369K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.05	−0.053%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0021%	8h	146.17	+0.027%	$28.9M	$25.8M	200x	as long as short
Binance AAVEUSDT	+0.0022%	8h	146.15	+0.016%	$66.2M	$183.6M	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	−6.275%	$422	$51K	12x	as long as short
Gate AAVE_USDT	+0.0036%	8h	146.18	+0.034%	$7.9M	$15.3M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.84	−0.197%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	146.07	−0.041%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.13	0.000%	$17.9M	$66.3M	50x	as long as short
Phemex AAVEUSDT	+0.0065%	8h	146.24	+0.075%	$4.2M	$3.8M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0074%	1h	146.56	+0.294%	$136K	$231K	50x	as long as short
BloFin AAVE-USDT	+0.0085%	8h	146.04	−0.062%	$3.5M	$3.5M	100x	as long as short
Bybit AAVEUSDTlong	+0.0086%	8h	146.13	long leg	$62.6M	$65.0M	75x
Aevo AAVE-PERP	+0.0088%	1h	146.15	+0.013%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.35	+0.153%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.12	−0.005%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.77	−0.246%	$797K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.32	+0.130%	$79.7M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.19	+0.038%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.18	+0.035%	$334K	$503K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.19	+0.041%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.235%	$59K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.27	+0.096%	$11.1M	$9.0M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.14	+0.007%	$30.3M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.13	0.000%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.28	+0.103%	$334K	$735K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.44	+0.213%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.46	+0.229%	$106K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.48	+0.240%	$464K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.91	−0.151%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.78	−0.236%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.39	+0.179%	$712K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.10	−0.018%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.21	+0.057%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0233% / S −0.0364%	1h	146.04	−0.065%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.41	+0.192%	$785K	$2.9M	50x	as long as short