Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Backpack against edgeX+0.356%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on edgeX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 4 days (all we have)−0.597%−$60 · spread now +0.356%, 7d avg +0.027%

Together, before fees−0.607%+ Points / potential airdropedgeX: Active · farm board−$61 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.329% dearer against edgeX than usual: you sell high and buy low, +$33 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX AAVEUSDC	142.24	0.0100	pay 0.0050% / 4h	55m 38s	$102K	$277K	20x
Short	Backpack AAVE_USDC_PERP	142.75	0.0100	get 0.0013% / 1h	55m 38s	$347K	$708K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against edgeX. 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 edgeXbpFee BackpackbpOrdersPrice spread, now +0.356%Rate

Funding earned: $0
Price spread: +0.356% → +0.027%: $32.89
Slippage, 4 orders: −$15.31
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$1.43
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; Backpack: 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 edgeX live order book, 2 min ago	3.52 bp	8.7 bp −$9	26.2 bp −$262	doesn't fit	doesn't fit
Sell Backpack live order book, 3 min ago	1.40 bp	9.3 bp −$9	552.8 bp −$5,528	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	−0.0128%	1h	142.52	+0.194%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0035%	1h	142.69	+0.314%	$5K	$303K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.45	+0.147%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.31	+0.047%	$53K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.72	+0.335%	$225K	$395K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.72	+0.334%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.714%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.64	+0.280%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	142.65	+0.286%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0082%	1h	142.70	+0.321%	$836K	$441K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0089%	1h	142.93	+0.483%	$4K	$102K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.57	+0.230%	$4.5M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.45	+0.146%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.57	+0.229%	$77.1M	$35.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.48	+0.169%	$1.3M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.48	+0.163%	$324K	$434K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.49	+0.175%	$63.9M	$184.3M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.51	+0.187%	$61.1M	$65.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.55	+0.215%	$17.0M	$63.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.56	+0.222%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.99	+0.527%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.49	+0.173%	$7.9M	$15.3M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.45	+0.145%	$25.4M	$23.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.46	+0.152%	$10.6M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.43	+0.131%	$29.1M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.55	+0.215%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	142.75	+0.356%	$347K	$708K	10x
Variational Omni AAVE	+0.0100%	8h	142.65	+0.287%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDClong	+0.0100%	4h	142.24	long leg	$102K	$277K	20x
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.15	−0.066%	$449K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.67	+0.300%	$133K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.69	+0.314%	$122K	$385K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.63	+0.274%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	+0.405%	$687K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.62	+0.265%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.51	+0.186%	$906K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.72	+0.335%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.59	+0.243%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.42	+0.124%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0261% / S −0.0408%	1h	142.72	+0.332%	$121K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0324%	1h	142.72	+0.337%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.82	+0.405%	$774K	$2.8M	50x	as long as short