Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0192%/8h= +21.0% APRpaid last 24h +0.301%

Price spread now: Bitget against Deribit−0.014%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$430.431% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.461%+$46 on $10k

Price spread, last 3 days (all we have)−0.131%−$13 · spread now −0.014%, 7d avg +0.002%

Together, before fees+0.331%+$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	146.27	−0.0092	get 0.0011% / 1h	20m 22s	$255K	$369K	50x
Short	Bitget AAVEUSDT	146.25	0.0100	get 0.0100% / 8h	7h 20m	$30.3M	$17.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.014%Rate

Funding earned: $40.32
Price spread: −0.014% → +0.002%: −$1.56
Slippage, 4 orders: −$24.14
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$4.38
Costs to cover: 0.431%
Break-even: 7.8 days

Slippage from Deribit: live order book, 49 min ago; Bitget: live order book, 4 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 Deribit live order book, 49 min ago	4.12 bp	13.0 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.34 bp	10.2 bp −$10	12.0 bp −$120	25.3 bp −$2,531	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.37	+0.068%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0160%	1h	146.30	+0.021%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0092%	1h	146.25	−0.014%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUALlong	−0.0092%	1h	146.27	long leg	$255K	$369K	50x
dYdX AAVE-USD	0.0000%	1h	146.41	+0.094%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.51	+0.164%	$78K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.78	+0.349%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.35	+0.054%	$71K	—	150x	as long as short
Gate AAVE_USDT	+0.0007%	8h	146.30	+0.021%	$7.9M	$15.3M	75x	as long as short
Phemex AAVEUSDT	+0.0009%	8h	146.36	+0.062%	$4.2M	$3.8M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0020%	8h	146.28	+0.007%	$29.0M	$25.8M	200x	as long as short
Binance AAVEUSDT	+0.0021%	8h	146.27	+0.001%	$66.3M	$183.4M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.365%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.23	−0.029%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	146.27	0.000%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.27	0.000%	$18.0M	$66.3M	50x	as long as short
Bybit AAVEUSDT	+0.0071%	8h	146.28	+0.007%	$62.6M	$65.0M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0072%	1h	146.58	+0.212%	$136K	$231K	50x	as long as short
BloFin AAVE-USDT	+0.0084%	8h	146.49	+0.150%	$3.5M	$3.5M	100x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.74	+0.322%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.39	+0.083%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.20	−0.045%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.24	−0.021%	$800K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.38	+0.075%	$79.8M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.36	+0.064%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.28	+0.010%	$334K	$502K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.30	+0.021%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.36	+0.059%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.29	+0.014%	$10.4M	$8.9M	75x	as long as short
Bitget AAVEUSDTshort	+0.0100%	8h	146.25	−0.014%	$30.3M	$17.9M	75x
BingX AAVE-USDC	+0.0100%	8h	146.28	+0.007%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.53	+0.178%	$334K	$737K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.44	+0.117%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.55	+0.194%	$106K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.62	+0.240%	$464K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.33	+0.041%	$127K	$415K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.29	+0.016%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.46	+0.129%	$712K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.21	−0.040%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.33	+0.044%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0233% / S −0.0363%	1h	146.34	+0.049%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.44	+0.116%	$785K	$2.9M	50x	as long as short