Funding you earn now, next payment 22:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.039%
Price spread now: Phemex against Coinbase International+0.584%7-day average −0.055% · you sell dearer than you buy
Net, funding: paid 7d − costs−$65as in the Funding arb table
Net, price: spread back to 7d avg − costs+$14as in the Price arb table
costs, in and out, $10k−$500.502% of the position
Funding, last 7 days−0.144%−$14 on $10k
+Price spread, last 3 days (all we have)−0.534%−$53 · spread now +0.584%, 7d avg −0.055%
=The price spread pays, funding is against you. Phemex is 0.639% dearer against Coinbase International than usual: you sell high and buy low (spread +0.584% now, against its 7-day average of −0.055%): +$64 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 12 days. At the pace of the last 7 days (−0.144% in total) that is about 31 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International AAVE-PERP-INTX | 143.80 | 0.0272 | pay 0.0034% / 1h | 43m 14s | $772K | $3.0M | 50x |
| Short | Phemex AAVEUSDT | 144.64 | 0.0100 | get 0.0100% / 8h | 1h 43m | $4.1M | $3.8M | 50x |
Coinbase International AAVE-PERP-INTX
Phemex AAVEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$36.12
- Price spread: +0.584% → −0.055%
- $63.87
- Slippage, 4 orders
- −$28.21
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$22.47
- Costs to cover
- 0.502%
- Break-even
- from the start
Slippage from Coinbase International: live order book, 1 min ago; Phemex: 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 | 4.49 bp | 11.4 bp −$11 | 16.0 bp −$160 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 6 min ago | 1.74 bp | 12.8 bp −$13 | 20.2 bp −$202 | 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 | −0.0184% | 1h | 144.61 | +0.563% | $11K | $2K | 5x | as long as short |
| SoDEX AAVE-USD | −0.0068% | 1h | 144.67 | +0.605% | $5K | $298K | 10x | as long as short |
| Phoenix AAVE | −0.0045% | 1h | 144.56 | +0.529% | $5K | $100K | 10x | as long as short |
| Deribit AAVE_USDC-PERPETUAL | −0.0026% | 1h | 144.71 | +0.633% | $254K | $480K | 50x | as long as short |
| dYdX AAVE-USD | 0.0000% | 1h | 144.60 | +0.554% | $103K | $5K | 10x | as long as short |
| Kalshi KXAAVEPERP | 0.0000% | 8h | 144.60 | +0.556% | $67K | $1.5M | 3.4x | as long as short |
| gTrade (Gains Network) AAVE/USD | L +0.0005% / S −0.0004% | 1h | 144.73 | +0.648% | $70K | — | 150x | as long as short |
| Injective AAVE/USDC PERP | +0.0033% | 1h | 136.96 | −4.757% | $422 | $51K | 12x | as long as short |
| MEXC AAVE_USDT | +0.0035% | 8h | 144.75 | +0.661% | $31.1M | $25.7M | 200x | as long as short |
| Binance AAVEUSDT | +0.0035% | 8h | 144.71 | +0.633% | $65.7M | $185.3M | 75x | as long as short |
01 Exchange AAVEUSD
SoDEX AAVE-USD
Phoenix AAVE
Deribit AAVE_USDC-PERPETUAL
dYdX AAVE-USD
Kalshi KXAAVEPERP
gTrade (Gains Network) AAVE/USD
Injective AAVE/USDC PERP
MEXC AAVE_USDT
Binance AAVEUSDTShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya AAVERUSDPERP | +0.0044% | 1h | 144.69 | +0.618% | — | — | 20x | as long as short |
| RISEx AAVE/USDC | +0.0046% | 1h | 144.68 | +0.614% | $180K | $246K | 10x | as long as short |
| OKX AAVE-USDT-SWAP | +0.0048% | 8h | 144.70 | +0.626% | $17.4M | $66.4M | 50x | as long as short |
| Orderly PERP_AAVE_USDC | +0.0050% | 8h | 144.65 | +0.591% | $18K | $12K | 10x | as long as short |
| Kraken Futures PF_AAVEUSD | +0.0054% | 1h | 144.80 | +0.697% | $3.5M | $2.1M | 50x | as long as short |
| Bulk AAVE-USD | +0.0056% | 1h | 143.94 | +0.097% | $60K | $3K | 10x | as long as short |
| Gate AAVE_USDT | +0.0073% | 8h | 144.72 | +0.640% | $7.8M | $15.8M | 75x | as long as short |
| Aevo AAVE-PERP | +0.0088% | 1h | 144.69 | +0.619% | $122K | $146 | 10x | as long as short |
| GRVT AAVE_USDT_Perp | +0.0088% | 8h | 144.30 | +0.347% | $451K | $3.8M | 10x | as long as short |
| Lighter AAVE | +0.0096% | 1h | 144.90 | +0.761% | $4.7M | $1.6M | 10x | as long as short |
| Paradex AAVE-USD-PERP | +0.0100% | 8h | 144.65 | +0.591% | $14K | $4K | 20x | as long as short |
| Nado AAVE-PERP | +0.0100% | 1h | 144.72 | +0.636% | $801K | $437K | 10x | as long as short |
| Hyperliquid AAVE | +0.0100% | 1h | 144.84 | +0.723% | $79.4M | $33.9M | 10x | as long as short |
| Aster AAVEUSDT | +0.0100% | 8h | 144.75 | +0.658% | $1.3M | $1.2M | 50x | as long as short |
| Pacifica AAVE | +0.0100% | 1h | 144.60 | +0.557% | $329K | $505K | 10x | as long as short |
| Bybit AAVEUSDT | +0.0100% | 8h | 144.73 | +0.647% | $61.5M | $65.6M | 75x | as long as short |
| Arcus AAVE-USD | +0.0100% | 1h | 144.64 | +0.584% | $50K | $273K | 10x | as long as short |
| KuCoin AAVEUSDTM | +0.0100% | 8h | 144.71 | +0.633% | $10.0M | $8.6M | 75x | as long as short |
| Bitget AAVEUSDT | +0.0100% | 8h | 144.64 | +0.584% | $30.2M | $18.2M | 75x | as long as short |
| BingX AAVE-USDT | +0.0100% | 8h | 144.69 | +0.619% | — | $43.9M | — | as long as short |
| Backpack AAVE_USDC_PERP | +0.0100% | 1h | 144.63 | +0.577% | $381K | $709K | 10x | as long as short |
| Variational Omni AAVE | +0.0100% | 8h | 143.94 | +0.098% | $3.8M | $1.4M | — | as long as short |
| edgeX AAVEUSDC | +0.0100% | 4h | 144.22 | +0.292% | $102K | $316K | 20x | as long as short |
| ApeX Omni AAVEUSDT | +0.0100% | 1h | 144.27 | +0.327% | $134K | $229K | 50x | as long as short |
| Polymarket Perps AAVE-USD | +0.0100% | 1h | 144.81 | +0.702% | $127K | $467K | 10x | as long as short |
| SunX AAVE-USDT | +0.0100% | 8h | 144.60 | +0.558% | $1K | $1.3M | 20x | as long as short |
| HTX AAVE-USDT | +0.0100% | 8h | 145.06 | +0.875% | $719K | $4.9M | 75x | as long as short |
| Phemex AAVEUSDTshort | +0.0100% | 8h | 144.64 | +0.584% | $4.1M | $3.8M | 50x | |
| Extended AAVE-USD | +0.0104% | 1h | 144.63 | +0.578% | $924K | $1.8M | 50x | as long as short |
| BloFin AAVE-USDT | +0.0141% | 8h | 144.60 | +0.556% | $3.4M | $4.6M | 100x | as long as short |
| GMX AAVE/USD [AAVE-USDC] | L +0.0267% / S −0.0438% | 1h | 144.72 | +0.637% | $124K | — | 100x | as long as short |
| Coinbase International AAVE-PERP-INTXlong | +0.0272% | 1h | 143.80 | long leg | $772K | $3.0M | 50x |
Reya AAVERUSDPERP
RISEx AAVE/USDC
OKX AAVE-USDT-SWAP
Orderly PERP_AAVE_USDC
Kraken Futures PF_AAVEUSD
Bulk AAVE-USD
Gate AAVE_USDT
Aevo AAVE-PERP
GRVT AAVE_USDT_Perp
Lighter AAVE
Paradex AAVE-USD-PERP
Nado AAVE-PERP
Hyperliquid AAVE
Aster AAVEUSDT
Pacifica AAVE
Bybit AAVEUSDT
Arcus AAVE-USD
KuCoin AAVEUSDTM
Bitget AAVEUSDT
BingX AAVE-USDT
Backpack AAVE_USDC_PERP
Variational Omni AAVE
edgeX AAVEUSDC
ApeX Omni AAVEUSDT
Polymarket Perps AAVE-USD
SunX AAVE-USDT
HTX AAVE-USDT
Extended AAVE-USD
BloFin AAVE-USDT
GMX AAVE/USD [AAVE-USDC]