Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.300%

Price spread now: BloFin against Deribit+0.176%57s7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs+$26as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.376% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.635%+$63 on $10k

Price spread, last 4 days (all we have)−0.161%−$16 · spread now +0.176%, 7d avg +0.016%

Together, before fees+0.474%+$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.159% dearer against Deribit than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.016%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	142.24	0	get 0.0000% / 1h	51m 27s	$223K	$396K	50x
Short	BloFin AAVE-USDT	142.49	0.0220	get 0.0220% / 8h	4h 51m	$3.4M	$3.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.176%Rate

Funding earned: $46.2
Price spread: +0.176% → +0.016%: $15.93
Slippage, 4 orders: −$18.58
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $24.55
Costs to cover: 0.376%
Break-even: 3.3 days

Slippage from Deribit: live order book, 2 min ago; BloFin: 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 Deribit live order book, 2 min ago	5.26 bp	11.5 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	1.05 bp	7.9 bp −$8	14.4 bp −$144	30.2 bp −$3,018	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	−0.0152%	1h	142.09	−0.105%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0050%	1h	142.17	−0.049%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.14	−0.074%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.28	+0.028%	$53K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALlong	0.0000%	1h	142.24	long leg	$223K	$396K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.14	−0.068%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.712%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.10	−0.101%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	142.19	−0.035%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	142.67	+0.302%	$4K	$102K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AAVE-PERP	+0.0071%	1h	142.09	−0.102%	$832K	$438K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.13	−0.078%	$4.5M	$1.7M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.12	−0.081%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.25	+0.007%	$76.9M	$35.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.16	−0.056%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.09	−0.103%	$323K	$434K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.18	−0.042%	$63.7M	$183.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.14	−0.070%	$61.0M	$65.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.15	−0.063%	$17.0M	$63.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.14	−0.070%	$44K	$179K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.09	−0.105%	$7.9M	$15.4M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.13	−0.077%	$25.3M	$23.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.14	−0.070%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.05	−0.134%	$29.0M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.11	−0.091%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.27	+0.021%	$346K	$705K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.65	+0.289%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.49	+0.177%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.52	+0.197%	$450K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.48	+0.169%	$132K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.16	−0.056%	$122K	$383K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.27	+0.024%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.46	+0.154%	$685K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.24	0.000%	$4.0M	$3.7M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.68	+0.307%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.05	−0.132%	$903K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.24	0.000%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.18	−0.040%	$177K	$241K	10x	as long as short
BloFin AAVE-USDTshort	+0.0220%	8h	142.49	+0.176%	$3.4M	$3.5M	100x
GMX AAVE/USD [AAVE-USDC]	L +0.0261% / S −0.0408%	1h	142.30	+0.042%	$121K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0325%	1h	142.22	−0.012%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.82	+0.408%	$774K	$2.8M	50x	as long as short