Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.041%

Price spread now: Kraken Futures against Gate−0.008%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$540.537% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 3 days (all we have)+0.412%+$41 · spread now −0.008%, 7d avg +0.033%

Together, before fees+0.333%+$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Kraken Futures is 0.041% cheaper against Gate than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AAVE_USDT	145.19	0.0064	pay 0.0064% / 8h	1h 12m	$7.8M	$15.9M	75x
Short	Kraken Futures PF_AAVEUSD	145.18	0.0054	get 0.0007% / 1h	12m 36s	$3.5M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$2.1
Price spread: −0.008% → +0.033%: −$4.05
Slippage, 4 orders: −$28.73
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$59.88
Costs to cover: 0.537%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Kraken Futures: live order book, 1 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 Gate live order book, 1 min ago	1.38 bp	15.3 bp −$15	28.2 bp −$282	46.2 bp −$4,618	52.1 bp −$26.0K
Sell Kraken Futures live order book, 1 min ago	2.76 bp	14.7 bp −$15	20.8 bp −$208	105.4 bp −$10.5K	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	−0.0136%	1h	145.23	+0.028%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0045%	1h	145.09	−0.069%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0040%	1h	145.08	−0.076%	$5K	$298K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0026%	1h	145.07	−0.083%	$255K	$465K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.12	−0.049%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.11	−0.055%	$66K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.08	−0.075%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.668%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0036%	8h	145.18	−0.007%	$30.8M	$25.9M	200x	as long as short
Binance AAVEUSDT	+0.0036%	8h	145.20	+0.009%	$66.2M	$185.2M	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	144.99	−0.141%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.26	+0.050%	$181K	$244K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.02	−0.117%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSDshort	+0.0054%	1h	145.18	−0.008%	$3.5M	$2.1M	50x
OKX AAVE-USDT-SWAP	+0.0057%	8h	145.20	+0.007%	$17.6M	$66.9M	50x	as long as short
Gate AAVE_USDTlong	+0.0064%	8h	145.19	long leg	$7.8M	$15.9M	75x
Aevo AAVE-PERP	+0.0088%	1h	145.11	−0.059%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.37	+0.121%	$4.7M	$1.6M	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0097%	8h	145.01	−0.121%	$458K	$3.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.16	−0.023%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.01	−0.121%	$802K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.27	+0.055%	$79.8M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.22	+0.021%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.20	+0.008%	$331K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.20	+0.007%	$61.7M	$65.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.23	+0.028%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.07	−0.080%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.18	−0.007%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.18	−0.007%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.18	−0.007%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.20	+0.007%	$347K	$725K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.10	−0.064%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.96	−0.157%	$104K	$317K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.94	−0.172%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.08	−0.076%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.03	−0.108%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.12	−0.047%	$695K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.05	−0.096%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.16	−0.024%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0144%	8h	145.05	−0.096%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.08	−0.075%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.06	−0.090%	$787K	$3.0M	50x	as long as short