Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0223%/8h= −24.5% APRpaid last 24h −0.085%

Price spread now: OKX against Coinbase International−0.055%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$410.409% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.260%−$26 on $10k

Price spread, last 3 days (all we have)−0.093%−$9 · spread now −0.055%, 7d avg −0.090%

Together, before fees−0.353%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.034% dearer against Coinbase International than usual: you sell high and buy low (spread −0.055% now, against its 7-day average of −0.090%): +$3 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AAVE-PERP-INTX	144.71	0.0272	pay 0.0034% / 1h	42m 06s	$777K	$3.0M	50x
Short	OKX AAVE-USDT-SWAP	144.63	0.0049	get 0.0049% / 8h	1h 42m	$17.4M	$66.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$46.91
Price spread: −0.055% → −0.090%: $3.45
Slippage, 4 orders: −$20.86
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$84.32
Costs to cover: 0.409%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; OKX: live order book, 2 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, 2 min ago	4.49 bp	11.4 bp −$11	16.0 bp −$160	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.35 bp	7.0 bp −$7	14.0 bp −$140	36.8 bp −$3,683	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	−0.0184%	1h	144.56	−0.104%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0069%	1h	144.58	−0.090%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0045%	1h	144.56	−0.104%	$5K	$100K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0026%	1h	144.66	−0.035%	$254K	$480K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.58	−0.092%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.67	−0.028%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.67	−0.030%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.356%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0035%	8h	144.64	−0.048%	$31.1M	$25.7M	200x	as long as short
Binance AAVEUSDT	+0.0035%	8h	144.63	−0.055%	$65.7M	$185.3M	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	144.53	−0.122%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.62	−0.062%	$180K	$246K	10x	as long as short
OKX AAVE-USDT-SWAPshort	+0.0049%	8h	144.63	−0.055%	$17.4M	$66.3M	50x
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.62	−0.062%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	144.70	−0.003%	$3.5M	$2.1M	50x	as long as short
Bulk AAVE-USD	+0.0056%	1h	143.94	−0.532%	$60K	$3K	10x	as long as short
Gate AAVE_USDT	+0.0070%	8h	144.65	−0.041%	$7.8M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.64	−0.045%	$122K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0088%	8h	144.30	−0.284%	$451K	$3.8M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.84	+0.093%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.57	−0.098%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.51	−0.138%	$800K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.75	+0.028%	$79.4M	$33.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.60	−0.075%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.56	−0.106%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.63	−0.055%	$61.4M	$65.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.58	−0.090%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.63	−0.055%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.61	−0.069%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.64	−0.048%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.75	+0.028%	$382K	$710K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.94	−0.531%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.22	−0.339%	$102K	$316K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.27	−0.304%	$134K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.63	−0.055%	$126K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.58	−0.088%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.99	+0.192%	$695K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.55	−0.111%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.55	−0.111%	$924K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0141%	8h	144.60	−0.076%	$3.4M	$4.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	144.66	−0.033%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0272%	1h	144.71	long leg	$777K	$3.0M	50x