Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h −0.065%

Price spread now: Bybit against Coinbase International−0.090%7-day average −0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.263%−$26 on $10k

Price spread, last 4 days (all we have)−0.292%−$29 · spread now −0.090%, 7d avg −0.089%

Together, before fees−0.555%−$56 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.089%, so right now this pair is about funding alone: −$7 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	143.72	0.0336	pay 0.0042% / 1h	44m 40s	$778K	$2.8M	50x
Short	Bybit AAVEUSDT	143.59	0.0100	get 0.0100% / 8h	5h 44m	$61.4M	$64.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$49.56
Price spread: −0.090% → −0.089%: −$0.13
Slippage, 4 orders: −$23.29
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$93.97
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Bybit: 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	4.19 bp	14.6 bp −$15	18.4 bp −$184	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.35 bp	7.6 bp −$8	17.0 bp −$170	65.3 bp −$6,529	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	−0.0064%	1h	143.56	−0.111%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.55	−0.120%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.47	−0.174%	$59K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.62	−0.070%	$238K	$376K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.54	−0.128%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.704%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	143.57	−0.104%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.58	−0.097%	—	—	20x	as long as short
Phoenix AAVE	+0.0089%	1h	143.48	−0.167%	$5K	$98K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0096%	8h	143.54	−0.125%	$17.2M	$63.4M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	143.75	+0.023%	$4.6M	$1.5M	10x	as long as short
MEXC AAVE_USDT	+0.0098%	8h	143.50	−0.153%	$26.0M	$23.5M	200x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.55	−0.116%	$64.4M	$183.3M	75x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.55	−0.117%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.50	−0.150%	$833K	$431K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.63	−0.063%	$77.7M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.57	−0.101%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.59	−0.092%	$327K	$433K	10x	as long as short
Bybit AAVEUSDTshort	+0.0100%	8h	143.59	−0.090%	$61.4M	$64.3M	75x
Arcus AAVE-USD	+0.0100%	1h	143.60	−0.083%	$44K	$181K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.56	−0.114%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.55	−0.118%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.61	−0.077%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.56	−0.111%	$30.1M	$17.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.56	−0.111%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.78	+0.042%	$320K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.37	−0.244%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.01	−0.491%	$103K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.97	−0.519%	$448K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.30	−0.292%	$133K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.60	−0.083%	$125K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.59	−0.088%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.61	−0.077%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.84	+0.084%	$696K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.62	−0.070%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.57	−0.104%	$913K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.63	−0.066%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.61	−0.074%	$196K	$231K	10x	as long as short
BloFin AAVE-USDT	+0.0219%	8h	143.52	−0.139%	—	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	143.54	−0.128%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0267%	1h	143.70	−0.017%	$3.5M	$2.0M	50x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0336%	1h	143.72	long leg	$778K	$2.8M	50x