Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.073%

Price spread now: Binance against Coinbase International−0.499%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 4 days (all we have)+0.438%+$44 · spread now −0.499%, 7d avg −0.065%

Together, before fees+0.204%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Binance is 0.434% cheaper against Coinbase International than usual: you would sell low and buy high (−$43 if the spread goes back to its 7-day average of −0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AAVE-PERP-INTX	142.29	0.0256	pay 0.0032% / 1h	58m 56s	$755K	$2.8M	50x
Short	Binance AAVEUSDT	141.58	0.0100	get 0.0100% / 8h	58m 56s	$63.4M	$189.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.499%Rate

Funding earned: −$32.76
Price spread: −0.499% → −0.065%: −$43.4
Slippage, 4 orders: −$19.86
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$116.03
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Binance: live order book, 14 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, 5 min ago	5.28 bp	12.3 bp −$12	16.4 bp −$164	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.35 bp	6.1 bp −$6	14.7 bp −$147	38.1 bp −$3,815	145.3 bp −$72.6K

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
Nado AAVE-PERP	−0.0131%	1h	141.72	−0.397%	$825K	$396K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0032%	1h	141.72	−0.401%	$215K	$398K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.90	−0.274%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.77	−0.365%	$51K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.75	−0.382%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.746%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.69	−0.424%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0081%	8h	141.71	−0.408%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.11	−0.127%	$5K	$97K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.88	−0.289%	$4.5M	$2.4M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	141.79	−0.350%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.81	−0.337%	$77.5M	$36.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.67	−0.435%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.83	−0.323%	$324K	$384K	10x	as long as short
Binance AAVEUSDTshort	+0.0100%	8h	141.58	−0.499%	$63.4M	$189.0M	75x
Bybit AAVEUSDT	+0.0100%	8h	141.59	−0.492%	$61.2M	$67.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.61	−0.478%	$16.9M	$63.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.89	−0.281%	$63K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.77	−0.369%	$160K	$103K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.62	−0.471%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.59	−0.492%	$24.1M	$23.8M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.61	−0.478%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.54	−0.527%	$28.9M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.61	−0.478%	—	$43.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.84	−0.316%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.88	−0.288%	$107K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.92	−0.257%	$443K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.95	−0.239%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.79	−0.351%	$140K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.78	−0.355%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.71	−0.408%	$5K	$285K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.91	−0.266%	$672K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.76	−0.372%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.54	−0.530%	$901K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.74	−0.387%	$120K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0130%	1h	141.78	−0.358%	$389K	$728K	10x	as long as short
01 Exchange AAVEUSD	+0.0168%	1h	141.86	−0.302%	$10K	$2K	5x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.74	−0.387%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0245%	1h	141.78	−0.357%	$188K	$273K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	141.73	−0.393%	$111K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0256%	1h	142.29	long leg	$755K	$2.8M	50x
Kraken Futures PF_AAVEUSD	+0.0270%	1h	141.83	−0.326%	$3.4M	$2.1M	50x	as long as short