Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0133%/8h= −14.6% APRpaid last 24h −0.024%

Price spread now: Bitget against GMX−0.062%7-day average −0.064% · you buy dearer than you sell

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

Long on GMX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.134%+$13 on $10k

Price spread, last 3 days (all we have)−0.087%−$9 · spread now −0.062%, 7d avg −0.064%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.064%, 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 +0.134%, 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]	146.34	L +0.0233% / S −0.0363%	pay 0.0029% / 1h	19m 48s	$128K	—	100x
Short	Bitget AAVEUSDT	146.25	0.0100	get 0.0100% / 8h	7h 19m	$30.3M	$17.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$27.96
Price spread: −0.062% → −0.064%: $0.23
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$51.73
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: 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 GMX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 4 min ago	0.34 bp	10.2 bp −$10	12.0 bp −$120	25.3 bp −$2,531	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	146.37	+0.019%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0160%	1h	146.30	−0.028%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0092%	1h	146.25	−0.062%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0092%	1h	146.27	−0.049%	$255K	$369K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.28	−0.045%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.34	−0.001%	$78K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.78	+0.300%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.35	+0.005%	$71K	—	150x	as long as short
Gate AAVE_USDT	+0.0007%	8h	146.19	−0.103%	$7.9M	$15.3M	75x	as long as short
Phemex AAVEUSDT	+0.0009%	8h	146.36	+0.013%	$4.2M	$3.8M	50x	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	+0.0020%	8h	146.27	−0.049%	$29.0M	$25.8M	200x	as long as short
Binance AAVEUSDT	+0.0021%	8h	146.13	−0.146%	$66.2M	$183.5M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.410%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.23	−0.077%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	146.27	−0.049%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.12	−0.151%	$17.9M	$66.3M	50x	as long as short
Bybit AAVEUSDT	+0.0068%	8h	146.08	−0.178%	$62.6M	$65.0M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0072%	1h	146.58	+0.163%	$136K	$231K	50x	as long as short
BloFin AAVE-USDT	+0.0084%	8h	146.49	+0.102%	$3.5M	$3.5M	100x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.74	+0.273%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.36	+0.014%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.20	−0.094%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.24	−0.069%	$800K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.26	−0.055%	$79.7M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.34	−0.001%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.28	−0.039%	$334K	$502K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.30	−0.028%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.36	+0.010%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.29	−0.035%	$10.4M	$8.9M	75x	as long as short
Bitget AAVEUSDTshort	+0.0100%	8h	146.25	−0.062%	$30.3M	$17.9M	75x
BingX AAVE-USDC	+0.0100%	8h	146.20	−0.096%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.26	−0.055%	$334K	$737K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.44	+0.068%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.55	+0.145%	$106K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.62	+0.191%	$464K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.33	−0.008%	$127K	$415K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.29	−0.032%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.46	+0.081%	$712K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.17	−0.119%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.33	−0.004%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]long	L +0.0233% / S −0.0363%	1h	146.34	long leg	$128K	—	100x
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.44	+0.068%	$785K	$2.9M	50x	as long as short