Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.050%

Price spread now: BingX against Coinbase International−0.356%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$410.406% of the position

Long on Coinbase International Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.166%−$17 on $10k

Price spread, last 3 days (all we have)+0.122%+$12 · spread now −0.356%, 7d avg −0.076%

Together, before fees−0.045%−$4 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 BingX is 0.280% cheaper against Coinbase International than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.076%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AAVE-PERP-INTX	146.27	0.0280	pay 0.0035% / 1h	9m 40s	$789K	$3.0M	50x
Short	BingX AAVE-USDT	145.75	0.0100	get 0.0100% / 8h	9m 40s	—	$44.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.356%Rate

Funding earned: −$37.8
Price spread: −0.356% → −0.076%: −$27.99
Slippage, 4 orders: −$20.63
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$106.41
Costs to cover: 0.406%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; BingX: live order book, 4 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, 4 min ago	4.78 bp	13.1 bp −$13	16.3 bp −$163	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	0.68 bp	7.1 bp −$7	10.1 bp −$101	21.5 bp −$2,147	68.8 bp −$34.4K

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	−0.0116%	1h	145.88	−0.267%	$5K	$305K	10x	as long as short
01 Exchange AAVEUSD	−0.0040%	1h	146.22	−0.034%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0027%	1h	146.26	−0.007%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	146.05	−0.150%	$255K	$391K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.46	−0.553%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.79	−0.328%	$83K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.00	−0.181%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.21	−0.044%	$71K	—	150x	as long as short
Binance AAVEUSDT	+0.0031%	8h	145.44	−0.565%	$66.3M	$187.0M	75x	as long as short
MEXC AAVE_USDT	+0.0032%	8h	145.45	−0.561%	$29.7M	$26.1M	200x	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	−6.365%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.04	−0.155%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	146.00	−0.185%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0068%	8h	145.48	−0.540%	$17.8M	$67.4M	50x	as long as short
Gate AAVE_USDT	+0.0074%	8h	145.77	−0.342%	$7.9M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.98	−0.197%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.85	−0.289%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.50	−0.529%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.15	−0.082%	$804K	$445K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.91	−0.246%	$80.5M	$34.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.75	−0.355%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.54	−0.502%	$332K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.46	−0.554%	$62.0M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.20	−0.048%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.23	−0.025%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.51	−0.520%	$9.9M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.76	−0.349%	$30.3M	$18.2M	75x	as long as short
BingX AAVE-USDTshort	+0.0100%	8h	145.75	−0.356%	—	$44.1M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.90	−0.253%	$346K	$744K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.93	−0.230%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.13	−0.095%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.16	−0.073%	$461K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.12	−0.103%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.24	−0.021%	$128K	$454K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.17	−0.066%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.09	−0.120%	$691K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.99	−0.191%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.71	−0.385%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.25	−0.014%	$185K	$247K	10x	as long as short
BloFin AAVE-USDT	+0.0130%	8h	145.93	−0.232%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.17	−0.067%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0280%	1h	146.27	long leg	$789K	$3.0M	50x