AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0172%/8h= −18.8% APRnext payment −$0.21 per $10,000 · paid last 24h −0.037%

Price spread now: Backpack against Coinbase International−0.034%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.137%−$14 on $10k

Price spread, last 3 days (all we have)−0.102%−$10 · spread now −0.034%, 7d avg −0.051%

Together, before fees−0.240%−$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.051%, 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	Coinbase International AAVE-PERP-INTX	145.76	0.0272	pay 0.0034% / 1h	1m 35s	$791K	$3.0M	50x
Short	Backpack AAVE_USDC_PERP	145.71	0.0100	get 0.0013% / 1h	1m 35s	$350K	$724K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. 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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$36.12
Price spread: −0.034% → −0.051%: $1.67
Slippage, 4 orders: −$19.15
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$73.6
Costs to cover: 0.392%
Break-even: never at this rate

Slippage from Coinbase International: 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 Coinbase International live order book, 2 min ago	3.77 bp	12.4 bp −$12	18.0 bp −$180	doesn't fit	doesn't fit
Sell Backpack live order book, 17 min ago	0.34 bp	7.0 bp −$7	196.5 bp −$1,965	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
01 Exchange AAVEUSD	−0.0120%	1h	145.61	−0.103%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0093%	1h	145.58	−0.123%	$254K	$421K	50x	as long as short
Phoenix AAVE	−0.0045%	1h	145.62	−0.096%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0012%	1h	145.58	−0.123%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.58	−0.125%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.58	−0.123%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.64	−0.080%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.037%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0041%	8h	145.63	−0.089%	$30.6M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0041%	8h	145.58	−0.122%	$66.4M	$184.9M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	145.58	−0.123%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.66	−0.069%	$184K	$246K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.57	−0.130%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.70	−0.041%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0061%	8h	145.53	−0.158%	$17.7M	$67.0M	50x	as long as short
Gate AAVE_USDT	+0.0072%	8h	145.62	−0.096%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.64	−0.082%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.84	+0.054%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.65	−0.077%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.58	−0.123%	$806K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.77	+0.007%	$80.1M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.65	−0.074%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.63	−0.086%	$332K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.58	−0.123%	$62.1M	$65.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.61	−0.103%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.13	−0.435%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.60	−0.110%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.68	−0.055%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.60	−0.110%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	145.71	−0.034%	$350K	$724K	10x
Variational Omni AAVE	+0.0100%	8h	145.35	−0.284%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.58	−0.124%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.53	−0.158%	$460K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.49	−0.185%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.67	−0.062%	$128K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.62	−0.095%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.70	−0.043%	$698K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.63	−0.089%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.55	−0.143%	$935K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0161%	8h	145.65	−0.075%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.63	−0.086%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0272%	1h	145.76	long leg	$791K	$3.0M	50x