Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.4782%/8h= +523.7% APRpaid last 24h +0.290%

Price spread now: Binance against Deribit+0.331%7-day average +0.026% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.428%+$43 on $10k

Price spread, last 3 days (all we have)−0.862%−$86 · spread now +0.331%, 7d avg +0.026%

Together, before fees−0.434%−$43 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$143 a day on $10k at the current rate, and Binance is 0.305% dearer against Deribit than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of +0.026%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.428% in total (about 22.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	144.85	−0.4696	get 0.0587% / 1h	57m 29s	$231K	$462K	50x
Short	Binance AAVEUSDT	145.33	0.0086	get 0.0086% / 8h	2h 57m	$66.0M	$180.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.331%Rate

Funding earned: $1,004.27
Price spread: +0.331% → +0.026%: $30.51
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: $1,017.78
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Deribit: live order book, 26 min ago; Binance: live order book, 16 min ago. Net counts fees only.

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 Deribit live order book, 26 min ago	14.23 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	0.34 bp	6.4 bp −$6	15.7 bp −$157	47.4 bp −$4,736	167.5 bp −$83.7K

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-PERPETUALlong	−0.4696%	1h	144.85	long leg	$231K	$462K	50x
SoDEX AAVE-USD	−0.0298%	1h	145.42	+0.394%	$5K	$308K	10x	as long as short
01 Exchange AAVEUSD	−0.0176%	1h	145.32	+0.324%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0039%	1h	145.99	+0.787%	$4K	$95K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.36	+0.351%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.56	+0.490%	$69K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.69	+0.576%	$71K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	145.58	+0.501%	$3.5M	$2.0M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.447%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.27	+0.292%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX AAVE-USDT-SWAP	+0.0055%	8h	145.35	+0.345%	$17.8M	$65.4M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0061%	8h	145.55	+0.483%	$18K	$12K	10x	as long as short
ApeX Omni AAVEUSDT	+0.0076%	1h	145.72	+0.601%	$135K	$229K	50x	as long as short
Gate AAVE_USDT	+0.0080%	8h	145.32	+0.324%	$7.8M	$15.4M	75x	as long as short
MEXC AAVE_USDT	+0.0086%	8h	145.24	+0.269%	$32.6M	$25.9M	200x	as long as short
Binance AAVEUSDTshort	+0.0086%	8h	145.33	+0.331%	$66.0M	$180.8M	75x
Lighter AAVE	+0.0096%	1h	145.55	+0.484%	$4.7M	$1.6M	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	145.39	+0.373%	$181K	$242K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.26	+0.286%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.31	+0.321%	$815K	$440K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.48	+0.435%	$81.4M	$32.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.32	+0.324%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.36	+0.355%	$331K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.38	+0.366%	$62.1M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.37	+0.359%	$51K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.24	+0.963%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.35	+0.345%	$10.1M	$8.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.29	+0.304%	$29.7M	$17.6M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.34	+0.338%	—	$44.3M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.44	+0.407%	$345K	$684K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.44	+1.096%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.76	+0.626%	$101K	$311K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.69	+0.578%	$461K	$4.1M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.39	+0.373%	$127K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.54	+0.474%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.73	+0.606%	$743K	$4.8M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.47	+0.428%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.30	+0.312%	$941K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	145.58	+0.504%	$123K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0208%	8h	145.63	+0.538%	$3.6M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	145.72	+0.601%	$782K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0274% / S −0.0485%	1h	145.66	+0.559%	$135K	—	100x	as long as short