Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0178%/8h= −19.5% APRpaid last 24h −0.057%

Price spread now: GRVT against Coinbase International−0.128%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.227%−$23 on $10k

Price spread, last 3 days (all we have)+0.038%+$4 · spread now −0.128%, 7d avg −0.061%

Together, before fees−0.189%+ Points / potential airdropGRVT: Active · farm board−$19 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 GRVT is 0.066% cheaper against Coinbase International than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.061%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AAVE-PERP-INTX	144.97	0.0272	pay 0.0034% / 1h	23m 15s	$787K	$3.0M	50x
Short	GRVT AAVE_USDT_Perp	144.79	0.0094	get 0.0094% / 8h	1h 23m	$457K	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.128%Rate

Funding earned: −$37.38
Price spread: −0.128% → −0.061%: −$6.64
Slippage, 4 orders: −$20.07
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$83.09
Costs to cover: 0.391%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; GRVT: live order book, 6 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, 1 min ago	2.76 bp	12.5 bp −$12	16.3 bp −$163	doesn't fit	doesn't fit
Sell GRVT live order book, 6 min ago	0.34 bp	9.2 bp −$9	19.1 bp −$191	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	−0.0144%	1h	144.86	−0.076%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0045%	1h	144.98	+0.007%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0042%	1h	144.84	−0.090%	$5K	$298K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0026%	1h	144.87	−0.069%	$254K	$480K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.87	−0.072%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.68	−0.200%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.88	−0.060%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.525%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0034%	8h	144.84	−0.090%	$30.8M	$25.8M	200x	as long as short
Binance AAVEUSDT	+0.0035%	8h	144.84	−0.090%	$66.0M	$185.5M	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	144.78	−0.133%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.89	−0.056%	$180K	$244K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	144.83	−0.097%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0052%	8h	144.83	−0.097%	$17.5M	$66.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	144.96	−0.008%	$3.5M	$2.1M	50x	as long as short
Gate AAVE_USDT	+0.0059%	8h	144.81	−0.110%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.87	−0.072%	$122K	$146	10x	as long as short
GRVT AAVE_USDT_Perpshort	+0.0094%	8h	144.79	−0.128%	$457K	$3.8M	10x
Lighter AAVE	+0.0096%	1h	145.03	+0.041%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.69	−0.194%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.84	−0.086%	$801K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.95	−0.014%	$79.7M	$33.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.90	−0.045%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.77	−0.138%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.83	−0.097%	$61.5M	$65.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.84	−0.090%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.27	−0.485%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.83	−0.097%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.84	−0.090%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.81	−0.110%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.98	+0.007%	$381K	$710K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.67	−0.209%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.72	−0.173%	$103K	$315K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.77	−0.138%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.90	−0.048%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.74	−0.156%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.86	−0.079%	$694K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.86	−0.076%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.81	−0.112%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0141%	8h	144.87	−0.069%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	144.88	−0.065%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0272%	1h	144.97	long leg	$787K	$3.0M	50x