Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0177%/8h= −19.4% APRpaid last 24h −0.036%

Price spread now: SoDEX against Bybit+0.007%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.046%−$5 on $10k

Price spread, last 3 days (all we have)+0.114%+$11 · spread now +0.007%, 7d avg +0.008%

Together, before fees+0.068%+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: −$5 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	146.31	0.0100	pay 0.0100% / 8h	7h 11m	$62.7M	$64.8M	75x
Short	SoDEX AAVE-USD	146.32	−0.0077	pay 0.0010% / 1h	11m 54s	$5K	$295K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$37.12
Price spread: +0.007% → +0.008%: −$0.09
Slippage, 4 orders: −$7.39
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$63.61
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; SoDEX: live order book, 62 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, 2 min ago	0.34 bp	8.6 bp −$9	15.1 bp −$151	59.9 bp −$5,994	doesn't fit
Sell SoDEX live order book, 62 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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.44	+0.091%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0152%	1h	146.26	−0.034%	$11K	$2K	5x	as long as short
SoDEX AAVE-USDshort	−0.0077%	1h	146.32	+0.007%	$5K	$295K	10x
Deribit AAVE_USDC-PERPETUAL	−0.0023%	1h	146.34	+0.021%	$255K	$367K	50x	as long as short
Phemex AAVEUSDT	−0.0004%	8h	146.32	+0.007%	$4.2M	$3.8M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.44	+0.090%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.24	−0.048%	$78K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.55	+0.164%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.38	+0.046%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0023%	8h	146.25	−0.041%	$28.7M	$25.9M	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	146.24	−0.048%	$66.2M	$183.4M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.391%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.25	−0.043%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	146.29	−0.014%	$18K	$10K	10x	as long as short
ApeX Omni AAVEUSDT	+0.0046%	1h	146.45	+0.096%	$136K	$231K	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0065%	8h	146.32	+0.007%	$17.9M	$66.3M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.28	−0.024%	$124K	$146	10x	as long as short
Gate AAVE_USDT	+0.0094%	8h	146.27	−0.027%	$7.9M	$15.3M	75x	as long as short
BloFin AAVE-USDT	+0.0095%	8h	146.33	+0.014%	$3.5M	$3.5M	100x	as long as short
Lighter AAVE	+0.0096%	1h	146.54	+0.157%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.36	+0.031%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.34	+0.017%	$800K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.39	+0.055%	$79.8M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.35	+0.026%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.36	+0.035%	$334K	$503K	10x	as long as short
Bybit AAVEUSDTlong	+0.0100%	8h	146.31	long leg	$62.7M	$64.8M	75x
Arcus AAVE-USD	+0.0100%	1h	146.36	+0.034%	$46K	$270K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.358%	$59K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.30	−0.007%	$11.0M	$9.0M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.16	−0.103%	$30.3M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.25	−0.041%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.35	+0.027%	$331K	$736K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.27	−0.026%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.39	+0.058%	$106K	$319K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.46	+0.103%	$466K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.37	+0.041%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.30	−0.004%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.49	+0.122%	$712K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.21	−0.070%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.34	+0.023%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	146.35	+0.029%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.42	+0.075%	$785K	$2.9M	50x	as long as short