Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0131%/8h= +14.3% APRpaid last 24h +0.258%

Price spread now: OKX against Deribit−0.099%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

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

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.365%+$37 on $10k

Price spread, last 4 days (all we have)−0.226%−$23 · spread now −0.099%, 7d avg −0.004%

Together, before fees+0.140%+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.094% cheaper against Deribit than usual: you would sell low and buy high (spread −0.099% now, against its 7-day average of −0.004%). If the spread goes back, that is −$9 on $10k: about 2.4 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	142.10	−0.0031	get 0.0004% / 1h	50m 48s	$223K	$396K	50x
Short	OKX AAVE-USDT-SWAP	141.96	0.0100	get 0.0100% / 8h	4h 50m	$17.0M	$63.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.099%Rate

Funding earned: $27.51
Price spread: −0.099% → −0.004%: −$9.42
Slippage, 4 orders: −$20.58
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$19.49
Costs to cover: 0.376%
Break-even: 12.0 days

Slippage from Deribit: live order book, 3 min ago; OKX: live order book, 3 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, 3 min ago	5.26 bp	11.5 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.35 bp	8.9 bp −$9	17.6 bp −$176	57.3 bp −$5,733	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	−0.007%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0054%	1h	142.08	−0.014%	$5K	$298K	10x	as long as short
Deribit AAVE_USDC-PERPETUALlong	−0.0031%	1h	142.10	long leg	$223K	$396K	50x
dYdX AAVE-USD	0.0000%	1h	142.07	−0.018%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.99	−0.077%	$53K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.14	+0.030%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.617%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.10	−0.002%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	142.05	−0.035%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	142.67	+0.401%	$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	−0.004%	$832K	$438K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.06	−0.030%	$4.5M	$1.7M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.12	+0.017%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.32	+0.158%	$76.9M	$35.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.27	+0.123%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.09	−0.004%	$323K	$434K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.93	−0.118%	$63.6M	$184.3M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.95	−0.106%	$60.9M	$65.6M	75x	as long as short
OKX AAVE-USDT-SWAPshort	+0.0100%	8h	141.96	−0.099%	$17.0M	$63.3M	50x
Arcus AAVE-USD	+0.0100%	1h	142.14	+0.028%	$44K	$179K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.28	+0.127%	$7.9M	$15.4M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.35	+0.176%	$25.5M	$23.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.31	+0.148%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.14	+0.028%	$29.0M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.26	+0.113%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.28	+0.127%	$346K	$705K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.06	−0.028%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.49	+0.276%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.52	+0.296%	$450K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.48	+0.267%	$132K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.16	+0.042%	$122K	$383K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.07	−0.018%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.46	+0.251%	$685K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.11	+0.007%	$4.0M	$3.7M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.68	+0.406%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.25	+0.103%	$900K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.13	+0.019%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.18	+0.059%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.12	+0.014%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0261% / S −0.0408%	1h	142.14	+0.030%	$120K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0325%	1h	142.19	+0.061%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.82	+0.507%	$774K	$2.8M	50x	as long as short