Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0152%/8h= −16.7% APRpaid last 24h −0.046%

Price spread now: Binance against GMX+0.208%7-day average −0.040% · you sell dearer than you buy

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.102%+$10 on $10k

Price spread, last 4 days (all we have)−0.553%−$55 · spread now +0.208%, 7d avg −0.040%

Together, before fees−0.451%−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.247% dearer against GMX than usual: you sell high and buy low (spread +0.208% now, against its 7-day average of −0.040%): +$25 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 5.4 days. Mind the row above: over the last 3 days funding on this pair paid +0.102%, 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]	142.68	L +0.0252% / S −0.0362%	pay 0.0032% / 1h	3m 41s	$111K	—	100x
Short	Binance AAVEUSDT	142.98	0.0100	get 0.0100% / 8h	4h 03m	$63.8M	$186.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BinancebpOrdersPrice spread, now +0.208%Rate

Funding earned: −$32.01
Price spread: +0.208% → −0.040%: $24.72
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$29.29
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Binance: live order book, 10 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 Binance live order book, 10 min ago	0.35 bp	8.4 bp −$8	14.6 bp −$146	46.6 bp −$4,664	148.9 bp −$74.4K

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
01 Exchange AAVEUSD	−0.0136%	1h	142.60	−0.058%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.90	+0.150%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.64	−0.030%	$56K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.69	+0.005%	$219K	$401K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.68	−0.001%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0012%	1h	142.56	−0.086%	$839K	$449K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.011%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.65	−0.025%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	142.65	−0.023%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	143.01	+0.230%	$4K	$102K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX AAVE-USD	+0.0074%	1h	142.68	−0.002%	$5K	$302K	10x	as long as short
Lighter AAVE	+0.0096%	1h	143.08	+0.281%	$4.5M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.58	−0.069%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.13	+0.314%	$77.9M	$36.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.91	+0.160%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.58	−0.072%	$326K	$447K	10x	as long as short
Binance AAVEUSDTshort	+0.0100%	8h	142.98	+0.208%	$63.8M	$186.9M	75x
Bybit AAVEUSDT	+0.0100%	8h	142.94	+0.181%	$61.4M	$67.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.97	+0.202%	$17.1M	$64.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.69	+0.005%	$64K	$204K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.53	−0.107%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.93	+0.174%	$8.1M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.90	+0.152%	$25.0M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.90	+0.152%	$10.5M	$9.3M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.89	+0.145%	$29.1M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.89	+0.145%	—	$43.8M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.91	+0.159%	$335K	$721K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.73	+0.033%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.88	+0.138%	$103K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.87	+0.134%	$460K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.90	+0.152%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.72	+0.026%	$124K	$386K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.56	−0.087%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	+0.099%	$687K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.72	+0.026%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.81	+0.089%	$898K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.69	+0.008%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.66	−0.018%	$178K	$245K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.55	−0.093%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]long	L +0.0252% / S −0.0362%	1h	142.68	long leg	$111K	—	100x
Kraken Futures PF_AAVEUSD	+0.0324%	1h	142.85	+0.117%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.92	+0.167%	$793K	$2.8M	50x	as long as short