Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.009%

Price spread now: Binance against dYdX−0.019%49s7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$193as 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−$2052.054% of the position

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$13 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now −0.019%, 7d avg −0.008%

Together, before fees+0.133%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 49 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	dYdX AAVE-USD	144.24	0	get 0.0000% / 1h	30m 57s	$103K	$4K	10x
Short	Binance AAVEUSDT	144.21	0.0052	get 0.0052% / 8h	6h 30m	$65.0M	$184.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.019%Rate

Funding earned: $11.01
Price spread: −0.019% → −0.008%: −$1.1
Slippage, 4 orders: −$185.35
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$195.44
Costs to cover: 2.054%
Break-even: 131.2 days

Slippage from dYdX: live order book, 38 min ago; Binance: live order book, 12 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, 38 min ago	67.94 bp	113.3 bp −$113	114.3 bp −$1,143	307.1 bp −$30.7K	783.6 bp −$391.8K
Sell Binance live order book, 12 min ago	0.35 bp	6.8 bp −$7	14.8 bp −$148	45.4 bp −$4,536	149.5 bp −$74.8K

AAVE on 41 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	−0.0056%	1h	144.25	+0.008%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.32	+0.055%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USDlong	0.0000%	1h	144.24	long leg	$103K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	144.18	−0.041%	$65K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.20	−0.027%	$250K	$362K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.27	+0.023%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.01	−0.158%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.046%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.21	−0.020%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.19	−0.032%	—	—	20x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0051%	8h	144.24	+0.001%	$27.0M	$24.8M	200x	as long as short
Binance AAVEUSDTshort	+0.0052%	8h	144.21	−0.019%	$65.0M	$184.8M	75x
OKX AAVE-USDT-SWAP	+0.0070%	8h	144.18	−0.041%	$17.4M	$65.5M	50x	as long as short
Gate AAVE_USDT	+0.0088%	8h	144.21	−0.020%	$7.7M	$15.1M	75x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.30	+0.039%	$186K	$230K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.42	+0.127%	$4.6M	$1.5M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.22	−0.015%	$122K	$146	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.17	−0.047%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.14	−0.068%	$802K	$425K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.32	+0.057%	$78.2M	$35.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.24	−0.002%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.19	−0.034%	$329K	$436K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.20	−0.027%	$61.7M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.25	+0.008%	$45K	$192K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.50	−0.514%	$58K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.28	+0.029%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.21	−0.020%	$30.0M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.23	−0.006%	—	$44.2M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.33	+0.063%	$324K	$746K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.14	−0.066%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.91	−0.229%	$104K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.87	−0.253%	$452K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.98	−0.179%	$134K	$230K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.26	+0.015%	$124K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.22	−0.016%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.19	−0.034%	$5K	$298K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.53	+0.206%	$700K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.17	−0.047%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.20	−0.028%	$917K	$1.7M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0237% / S −0.0360%	1h	144.25	+0.009%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.38	+0.098%	$773K	$2.8M	50x	as long as short