Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.027%

Price spread now: Phemex against gTrade (Gains Network)−0.028%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phemex is 0.028% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 24 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) AAVE/USD	144.01	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	34m 36s	$80K	—	150x
Short	Phemex AAVEUSDT	143.97	0.0100	get 0.0100% / 8h	5h 34m	$4.1M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhemexbpOrdersPrice spread, now −0.028%Rate

Funding earned: $19.96
Price spread: −0.028% → 0.000%: −$2.85
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$4.89
Costs to cover: 0.220%
Break-even: 8.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 4 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	3.84 bp	13.8 bp −$14	18.9 bp −$189	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0064%	1h	143.75	−0.181%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.69	−0.226%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.74	−0.188%	$60K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.99	−0.015%	$228K	$389K	50x	as long as short
gTrade (Gains Network) AAVE/USDlong	L +0.0005% / S −0.0004%	1h	144.01	long leg	$80K	—	150x
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.896%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	143.98	−0.022%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.98	−0.021%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0061%	1h	143.92	−0.060%	$833K	$433K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	143.28	−0.508%	$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	143.86	−0.104%	$4.6M	$1.5M	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0099%	8h	143.67	−0.237%	$17.2M	$63.5M	50x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.68	−0.230%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.80	−0.147%	$77.8M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.01	+0.002%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.69	−0.226%	$327K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.68	−0.230%	$64.3M	$182.8M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.70	−0.216%	$61.4M	$64.2M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.77	−0.167%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.90	−0.077%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.75	−0.181%	$7.9M	$15.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.67	−0.237%	$25.9M	$23.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.73	−0.195%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.67	−0.237%	$30.1M	$17.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.69	−0.223%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.08	+0.048%	$321K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.76	−0.176%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.20	−0.564%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.25	−0.530%	$455K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.27	−0.515%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.01	−0.001%	$126K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.98	−0.021%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.99	−0.015%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.10	+0.059%	$696K	$5.2M	75x	as long as short
Phemex AAVEUSDTshort	+0.0100%	8h	143.97	−0.028%	$4.1M	$3.7M	50x
Extended AAVE-USD	+0.0104%	1h	143.64	−0.259%	$913K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.00	−0.010%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.79	−0.151%	$188K	$235K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	144.00	−0.008%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	144.01	−0.002%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0267%	1h	144.05	+0.030%	$3.5M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	143.47	−0.376%	$776K	$2.8M	50x	as long as short