Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.002%

Price spread now: Phemex against Extended−0.028%7-day average +0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 3 days (all we have)+0.233%+$23 · spread now −0.028%, 7d avg +0.074%

Together, before fees+0.235%+ Points / potential airdropExtended: Active · farm board+$23 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: Phemex is 0.101% cheaper against Extended than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended AAVE-USD	144.68	0.0104	pay 0.0013% / 1h	43m 06s	$924K	$1.8M	50x
Short	Phemex AAVEUSDT	144.64	0.0100	get 0.0100% / 8h	1h 43m	$4.1M	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$0.84
Price spread: −0.028% → +0.074%: −$10.14
Slippage, 4 orders: −$20.99
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$48.98
Costs to cover: 0.380%
Break-even: never at this rate

Slippage from Extended: live order book, just now; Phemex: live order book, 6 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 Extended live order book, just now	2.42 bp	6.0 bp −$6	19.4 bp −$194	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	1.74 bp	12.8 bp −$13	20.2 bp −$202	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	−0.0184%	1h	144.61	−0.048%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0068%	1h	144.67	−0.007%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0045%	1h	144.56	−0.083%	$5K	$100K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0026%	1h	144.71	+0.021%	$254K	$480K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.60	−0.058%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.60	−0.055%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.73	+0.036%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.336%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0035%	8h	144.75	+0.048%	$31.1M	$25.7M	200x	as long as short
Binance AAVEUSDT	+0.0035%	8h	144.69	+0.009%	$65.7M	$185.3M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	144.69	+0.006%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.68	+0.002%	$180K	$246K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0048%	8h	144.70	+0.014%	$17.4M	$66.4M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.65	−0.021%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	144.80	+0.085%	$3.5M	$2.1M	50x	as long as short
Bulk AAVE-USD	+0.0056%	1h	143.94	−0.511%	$60K	$3K	10x	as long as short
Gate AAVE_USDT	+0.0073%	8h	144.74	+0.041%	$7.8M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.69	+0.007%	$122K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0088%	8h	144.30	−0.263%	$451K	$3.8M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.90	+0.149%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.65	−0.021%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.72	+0.024%	$801K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.84	+0.111%	$79.4M	$33.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.75	+0.050%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.60	−0.054%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.72	+0.028%	$61.5M	$65.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.64	−0.028%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.71	+0.021%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.68	0.000%	$30.2M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.71	+0.021%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.82	+0.097%	$382K	$709K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.94	−0.511%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.22	−0.318%	$102K	$316K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.27	−0.283%	$134K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.81	+0.090%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.60	−0.053%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.06	+0.261%	$719K	$4.9M	75x	as long as short
Phemex AAVEUSDTshort	+0.0100%	8h	144.64	−0.028%	$4.1M	$3.8M	50x
Extended AAVE-USDlong	+0.0104%	1h	144.68	long leg	$924K	$1.8M	50x
BloFin AAVE-USDT	+0.0141%	8h	144.60	−0.055%	$3.4M	$4.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	144.72	+0.025%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	143.80	−0.608%	$772K	$3.0M	50x	as long as short