AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0440%/8h= −48.2% APRnext payment −$0.55 per $10,000 · paid last 24h −0.356%

Price spread now: Deribit against Coinbase International−0.123%7-day average −0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$460.456% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.647%−$65 on $10k

Price spread, last 3 days (all we have)+0.204%+$20 · spread now −0.123%, 7d avg −0.089%

Together, before fees−0.443%−$44 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Deribit is 0.034% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.089%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AAVE-PERP-INTX	146.33	0.0280	pay 0.0035% / 1h	30m 25s	$788K	$3.0M	50x
Short	Deribit AAVE_USDC-PERPETUAL	146.15	−0.0160	pay 0.0020% / 1h	30m 25s	$255K	$394K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$92.4
Price spread: −0.123% → −0.089%: −$3.42
Slippage, 4 orders: −$28.57
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$141.39
Costs to cover: 0.456%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Deribit: live order book, 44 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, 3 min ago	5.47 bp	11.4 bp −$11	15.2 bp −$152	doesn't fit	doesn't fit
Sell Deribit live order book, 44 min ago	5.17 bp	8.7 bp −$9	doesn't fit	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
Deribit AAVE_USDC-PERPETUALshort	−0.0160%	1h	146.15	−0.123%	$255K	$394K	50x
SoDEX AAVE-USD	−0.0076%	1h	146.12	−0.144%	$5K	$305K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	146.34	+0.007%	$5K	$99K	10x	as long as short
01 Exchange AAVEUSD	−0.0008%	1h	146.13	−0.137%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.13	−0.135%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.15	−0.123%	$85K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.24	−0.058%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.15	−0.126%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.403%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0040%	8h	146.10	−0.157%	$30.4M	$25.8M	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	+0.0040%	8h	146.07	−0.178%	$66.6M	$185.9M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.07	−0.176%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	146.07	−0.178%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0073%	8h	146.06	−0.185%	$18.0M	$67.7M	50x	as long as short
Gate AAVE_USDT	+0.0078%	8h	146.11	−0.150%	$7.9M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.15	−0.121%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.29	−0.028%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.05	−0.189%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.09	−0.161%	$804K	$442K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.28	−0.037%	$80.7M	$34.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.15	−0.124%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.10	−0.157%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.09	−0.164%	$62.3M	$65.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.09	−0.164%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.07	−0.178%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.09	−0.164%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.02	−0.212%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.08	−0.171%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.25	−0.055%	$348K	$745K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.17	−0.111%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.18	−0.102%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.26	−0.050%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.19	−0.096%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.14	−0.130%	$128K	$456K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.11	−0.149%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.21	−0.081%	$698K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.19	−0.096%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.02	−0.215%	$935K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.14	−0.129%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0161%	8h	146.20	−0.089%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.14	−0.132%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0280%	1h	146.33	long leg	$788K	$3.0M	50x