AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.030%

Price spread now: Backpack against dYdX+0.046%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1651.652% of the position

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.199%+$20 on $10k

Price spread, last 4 days (all we have)−0.239%−$24 · spread now +0.046%, 7d avg +0.001%

Together, before fees−0.039%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Backpack is 0.045% dearer against dYdX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX AAVE-USD	144.44	0	get 0.0000% / 1h	18m 23s	$103K	$4K	10x
Short	Backpack AAVE_USDC_PERP	144.51	0.0100	get 0.0013% / 1h	18m 23s	$322K	$693K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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 dYdXbpFee BackpackbpOrdersPrice spread, now +0.046%Rate

Funding earned: $21
Price spread: +0.046% → +0.001%: $4.52
Slippage, 4 orders: −$145.16
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$139.64
Costs to cover: 1.652%
Break-even: 53.5 days

Slippage from dYdX: live order book, 45 min ago; Backpack: live order book, 45 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 dYdX live order book, 45 min ago	69.43 bp	74.4 bp −$74	74.4 bp −$744	74.4 bp −$7,443	74.4 bp −$37.2K
Sell Backpack live order book, 45 min ago	0.35 bp	7.6 bp −$8	182.9 bp −$1,829	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
01 Exchange AAVEUSD	−0.0048%	1h	144.36	−0.058%	$11K	$2K	5x	as long as short
dYdX AAVE-USDlong	0.0000%	1h	144.44	long leg	$103K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	144.36	−0.058%	$61K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.18	−0.183%	$228K	$389K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.21	−0.163%	$81K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.181%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.21	−0.159%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	144.20	−0.169%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0048%	1h	144.24	−0.139%	$833K	$433K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	144.46	+0.011%	$5K	$98K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	144.59	+0.104%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.37	−0.052%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.39	−0.040%	$78.1M	$35.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.37	−0.052%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.39	−0.036%	$329K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	144.19	−0.175%	$64.5M	$182.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.18	−0.183%	$61.5M	$64.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	144.18	−0.183%	$17.2M	$63.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.37	−0.051%	$45K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.91	−0.368%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.25	−0.134%	$7.9M	$15.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	144.27	−0.120%	$26.1M	$23.6M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.36	−0.058%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.20	−0.169%	$30.2M	$17.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.24	−0.141%	—	$43.8M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	144.51	+0.046%	$322K	$693K	10x
Variational Omni AAVE	+0.0100%	8h	144.42	−0.018%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.40	−0.029%	$104K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.31	−0.096%	$460K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.44	−0.003%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.29	−0.107%	$128K	$422K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.17	−0.190%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.22	−0.155%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.55	+0.071%	$696K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.42	−0.017%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.18	−0.181%	$918K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.22	−0.155%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	144.39	−0.039%	$188K	$235K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	144.43	−0.010%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	144.21	−0.163%	$125K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0266%	1h	144.35	−0.063%	$3.5M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	143.97	−0.328%	$783K	$2.8M	50x	as long as short