Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.004%

Price spread now: dYdX against Bybit−0.119%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$176as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1691.690% of the position

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 4 days (all we have)+0.162%+$16 · spread now −0.119%, 7d avg +0.035%

Together, before fees+0.088%+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.154% cheaper against Bybit than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAVEUSDT	145.84	0.0100	pay 0.0100% / 8h	3m 27s	$62.2M	$66.1M	75x
Short	dYdX AAVE-USD	145.67	0	get 0.0000% / 1h	3m 27s	$104K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.119%Rate

Funding earned: −$21
Price spread: −0.119% → +0.035%: −$15.45
Slippage, 4 orders: −$148.04
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$205.49
Costs to cover: 1.690%
Break-even: never at this rate

Slippage from Bybit: live order book, 6 min ago; dYdX: 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 Bybit live order book, 6 min ago	0.34 bp	8.7 bp −$9	17.2 bp −$172	77.1 bp −$7,706	doesn't fit
Sell dYdX live order book, 10 min ago	67.60 bp	78.8 bp −$79	198.6 bp −$1,986	210.6 bp −$21.1K	221.1 bp −$110.5K

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-USD	−0.0126%	1h	145.61	−0.158%	$5K	$305K	10x	as long as short
01 Exchange AAVEUSD	−0.0056%	1h	145.85	+0.007%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0027%	1h	145.43	−0.281%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	145.68	−0.110%	$254K	$391K	50x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	145.67	−0.119%	$104K	$5K	10x
Kalshi KXAAVEPERP	0.0000%	8h	145.66	−0.123%	$77K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	145.75	−0.061%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.73	−0.073%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0027%	8h	145.80	−0.027%	$29.7M	$26.1M	200x	as long as short
Binance AAVEUSDT	+0.0029%	8h	145.83	−0.007%	$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	−6.089%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.81	−0.017%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	145.65	−0.130%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0066%	8h	145.83	−0.007%	$17.9M	$67.7M	50x	as long as short
Gate AAVE_USDT	+0.0074%	8h	145.80	−0.027%	$7.9M	$16.0M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.66	−0.123%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.85	+0.008%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.66	−0.125%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.81	−0.021%	$801K	$446K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.96	+0.082%	$80.2M	$35.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.75	−0.065%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.75	−0.062%	$333K	$504K	10x	as long as short
Bybit AAVEUSDTlong	+0.0100%	8h	145.84	long leg	$62.2M	$66.1M	75x
Arcus AAVE-USD	+0.0100%	1h	145.85	+0.007%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.59	−0.173%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.65	−0.130%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.83	−0.007%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.79	−0.034%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.76	−0.055%	$348K	$747K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.20	−0.442%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.56	−0.189%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.40	−0.301%	$454K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.31	−0.363%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.89	+0.034%	$128K	$455K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.64	−0.134%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.77	−0.049%	$689K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.63	−0.144%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.79	−0.032%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	145.89	+0.034%	$185K	$247K	10x	as long as short
BloFin AAVE-USDT	+0.0110%	8h	145.45	−0.267%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.72	−0.083%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	145.81	−0.021%	$794K	$3.0M	50x	as long as short