AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0133%/8h= −14.6% APRnext payment −$0.17 per $10,000 · paid last 24h −0.010%

Price spread now: Backpack against GMX−0.015%7-day average −0.030% · you buy dearer than you sell

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

Long on GMX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.143%+$14 on $10k

Price spread, last 3 days (all we have)−0.110%−$11 · spread now −0.015%, 7d avg −0.030%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.143%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AAVE/USD [AAVE-USDC]	146.55	L +0.0233% / S −0.0363%	pay 0.0029% / 1h	21m 15s	$128K	—	100x
Short	Backpack AAVE_USDC_PERP	146.53	0.0100	get 0.0013% / 1h	21m 15s	$334K	$737K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against GMX. 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 GMXbpFee BackpackbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$27.96
Price spread: −0.015% → −0.030%: $1.55
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$48.41
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Backpack: live order book, 53 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 GMX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 53 min ago	0.34 bp	7.5 bp −$8	426.9 bp −$4,269	doesn't fit	doesn't fit

GMX: 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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.62	+0.045%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0152%	1h	146.42	−0.090%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0091%	1h	146.54	−0.008%	$255K	$369K	50x	as long as short
SoDEX AAVE-USD	−0.0090%	1h	146.50	−0.035%	$5K	$305K	10x	as long as short
Phemex AAVEUSDT	−0.0018%	8h	146.52	−0.021%	$4.2M	$3.8M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.58	+0.020%	$105K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.51	−0.028%	$78K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.78	+0.156%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.55	−0.002%	$71K	—	150x	as long as short
Binance AAVEUSDT	+0.0021%	8h	146.49	−0.044%	$66.4M	$183.6M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0021%	8h	146.42	−0.090%	$29.1M	$25.8M	200x	as long as short
Gate AAVE_USDT	+0.0028%	8h	146.44	−0.076%	$7.9M	$15.3M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.545%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.45	−0.071%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	146.46	−0.062%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.39	−0.110%	$18.0M	$66.5M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0072%	1h	146.58	+0.020%	$136K	$231K	50x	as long as short
Bybit AAVEUSDT	+0.0080%	8h	146.42	−0.090%	$62.7M	$65.0M	75x	as long as short
BloFin AAVE-USDT	+0.0084%	8h	146.49	−0.042%	$3.5M	$3.5M	100x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.77	+0.150%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.71	+0.110%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.44	−0.077%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.45	−0.066%	$801K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.52	−0.021%	$79.9M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.48	−0.050%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.49	−0.042%	$334K	$502K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.49	−0.042%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.36	−0.133%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.46	−0.062%	$10.4M	$8.8M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.41	−0.096%	$30.4M	$17.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.42	−0.090%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	146.53	−0.015%	$334K	$737K	10x
Variational Omni AAVE	+0.0100%	8h	146.44	−0.075%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.55	+0.001%	$106K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.62	+0.047%	$464K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.54	−0.008%	$127K	$415K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.49	−0.039%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.60	+0.037%	$713K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.44	−0.079%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.53	−0.012%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]long	L +0.0233% / S −0.0363%	1h	146.55	long leg	$128K	—	100x
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.88	+0.224%	$788K	$2.9M	50x	as long as short