Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0123%/8h= +13.5% APRpaid last 24h +0.316%

Price spread now: SunX against Deribit−0.020%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1531.530% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.518%+$52 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now −0.020%, 7d avg +0.013%

Together, before fees+0.480%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.033% cheaper against Deribit than usual: you would sell low and buy high (spread −0.020% now, against its 7-day average of +0.013%). If the spread goes back, that is −$3 on $10k: about 22 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.518% in total) that is about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	146.36	−0.0023	get 0.0003% / 1h	54m 52s	$256K	$412K	50x
Short	SunX AAVE-USDT	146.33	0.0100	get 0.0100% / 8h	54m 52s	$2K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $25.83
Price spread: −0.020% → +0.013%: −$3.31
Slippage, 4 orders: −$138.01
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$130.49
Costs to cover: 1.530%
Break-even: 42.4 days

Slippage from Deribit: live order book, 19 min ago; SunX: live order book, 9 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, 19 min ago	5.17 bp	11.4 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	44.91 bp	68.0 bp −$68	doesn't fit	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
Phoenix AAVE	−0.0045%	1h	146.30	−0.041%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUALlong	−0.0023%	1h	146.36	long leg	$256K	$412K	50x
dYdX AAVE-USD	0.0000%	1h	146.42	+0.040%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.38	+0.014%	$85K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.45	+0.063%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.39	+0.020%	$71K	—	150x	as long as short
01 Exchange AAVEUSD	+0.0008%	1h	146.43	+0.048%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	+0.0020%	1h	146.34	−0.014%	$5K	$298K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.423%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0042%	8h	146.32	−0.027%	$30.6M	$25.5M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0042%	8h	146.32	−0.028%	$66.7M	$185.1M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.34	−0.016%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	146.33	−0.020%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0067%	8h	146.29	−0.048%	$17.9M	$67.6M	50x	as long as short
Gate AAVE_USDT	+0.0076%	8h	146.35	−0.007%	$7.9M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.35	−0.010%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.56	+0.136%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.39	+0.022%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.28	−0.055%	$809K	$438K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.40	+0.030%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.35	−0.008%	$334K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.32	−0.027%	$62.4M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.39	+0.020%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.389%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.34	−0.014%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.37	+0.007%	$30.6M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.32	−0.027%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	146.32	−0.031%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.12	−0.163%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.17	−0.130%	$463K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.22	−0.096%	$136K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.45	+0.061%	$128K	$466K	10x	as long as short
SunX AAVE-USDTshort	+0.0100%	8h	146.33	−0.020%	$2K	$1.3M	20x
HTX AAVE-USDT	+0.0100%	8h	146.46	+0.065%	$701K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.29	−0.048%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.32	−0.029%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.43	+0.046%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0162%	8h	146.37	+0.007%	$3.5M	$4.0M	100x	as long as short
Hyperliquid AAVE	+0.0242%	1h	146.52	+0.109%	$80.9M	$34.2M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.40	+0.026%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.43	+0.048%	$795K	$3.0M	50x	as long as short
Backpack AAVE_USDC_PERP	+0.0337%	1h	146.44	+0.055%	$354K	$733K	10x	as long as short