Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.016%

Price spread now: KuCoin against dYdX−0.127%47s7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$363as 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−$3723.717% of the position

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 4 days (all we have)+0.090%+$9 · spread now −0.127%, 7d avg −0.015%

Together, before fees+0.181%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.112% cheaper against dYdX than usual: you would sell low and buy high (spread −0.127% now, against its 7-day average of −0.015%). If the spread goes back, that is −$11 on $10k: about 3.7 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.091% in total) that is about 8.6 days. The two prices were read 47 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	146.55	0	get 0.0000% / 1h	49m 53s	$105K	$5K	10x
Short	KuCoin AAVEUSDTM	146.36	0.0100	get 0.0100% / 8h	49m 53s	$10.0M	$8.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.127%Rate

Funding earned: $21
Price spread: −0.127% → −0.015%: −$11.23
Slippage, 4 orders: −$349.71
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$361.94
Costs to cover: 3.717%
Break-even: 127.6 days

Slippage from dYdX: live order book, 29 min ago; KuCoin: live order book, 8 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, 29 min ago	158.47 bp	165.3 bp −$165	165.5 bp −$1,655	165.5 bp −$16.6K	265.7 bp −$132.9K
Sell KuCoin live order book, 8 min ago	1.03 bp	17.5 bp −$17	32.0 bp −$320	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
Deribit AAVE_USDC-PERPETUAL	−0.0091%	1h	146.37	−0.120%	$256K	$412K	50x	as long as short
Phoenix AAVE	−0.0027%	1h	146.35	−0.134%	$5K	$99K	10x	as long as short
SoDEX AAVE-USD	−0.0020%	1h	146.32	−0.154%	$5K	$298K	10x	as long as short
dYdX AAVE-USDlong	0.0000%	1h	146.55	long leg	$105K	$5K	10x
Kalshi KXAAVEPERP	0.0000%	8h	146.42	−0.086%	$83K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.44	−0.073%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.41	−0.091%	$71K	—	150x	as long as short
01 Exchange AAVEUSD	+0.0024%	1h	146.53	−0.011%	$11K	$2K	5x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.541%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0042%	8h	146.34	−0.141%	$31.0M	$25.6M	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	+0.0043%	8h	146.34	−0.141%	$66.7M	$185.2M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.30	−0.165%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	146.35	−0.134%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0071%	8h	146.34	−0.141%	$17.9M	$67.5M	50x	as long as short
Gate AAVE_USDT	+0.0078%	8h	146.37	−0.120%	$7.9M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.38	−0.113%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.55	+0.003%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.53	−0.010%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.44	−0.069%	$810K	$438K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.34	−0.140%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.59	+0.030%	$334K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.33	−0.147%	$62.5M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.48	−0.045%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.49	−0.036%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTMshort	+0.0100%	8h	146.36	−0.127%	$10.0M	$8.6M	75x
Bitget AAVEUSDT	+0.0100%	8h	146.37	−0.120%	$30.6M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.34	−0.141%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	146.38	−0.115%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.32	−0.151%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.39	−0.105%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.28	−0.181%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.52	−0.018%	$128K	$466K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.44	−0.072%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.62	+0.049%	$702K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.40	−0.100%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.31	−0.160%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.52	−0.016%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0163%	8h	146.40	−0.100%	$3.5M	$4.0M	100x	as long as short
Hyperliquid AAVE	+0.0182%	1h	146.55	+0.003%	$81.0M	$34.4M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0216%	1h	146.45	−0.065%	$354K	$733K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.41	−0.094%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.43	−0.079%	$795K	$3.0M	50x	as long as short