AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0570%/8h= −62.4% APRnext payment −$0.71 per $10,000 · paid last 24h −0.305%

Price spread now: Deribit against GMX−0.006%7-day average −0.067% · you buy dearer than you sell

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

Long on GMX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.230%−$23 on $10k

Price spread, last 3 days (all we have)−0.024%−$2 · spread now −0.006%, 7d avg −0.067%

Together, before fees−0.254%−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.061% dearer against GMX than usual: you sell high and buy low (spread −0.006% now, against its 7-day average of −0.067%): +$6 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 3 days (−0.230% in total) that is about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AAVE/USD [AAVE-USDC]	144.40	L +0.0266% / S −0.0438%	pay 0.0033% / 1h	34m 39s	$124K	—	100x
Short	Deribit AAVE_USDC-PERPETUAL	144.39	−0.0304	pay 0.0038% / 1h	34m 39s	$248K	$483K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$119.7
Price spread: −0.006% → −0.067%: $6.12
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$132.58
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Deribit: live order book, 49 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 Deribit live order book, 49 min ago	14.23 bp	17.7 bp −$18	doesn't fit	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
Deribit AAVE_USDC-PERPETUALshort	−0.0304%	1h	144.39	−0.006%	$248K	$483K	50x
SoDEX AAVE-USD	−0.0194%	1h	144.34	−0.041%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.42	+0.015%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.13	−0.186%	$4K	$101K	10x	as long as short
ApeX Omni AAVEUSDT	−0.0026%	1h	144.08	−0.221%	$134K	$229K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.40	+0.004%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.45	+0.036%	$71K	$1.6M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.41	+0.004%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.51	+0.074%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.151%	$422	$51K	12x	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	144.34	−0.042%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0052%	8h	144.48	+0.056%	$17.5M	$65.7M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0055%	8h	144.32	−0.054%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0055%	8h	144.45	+0.036%	$7.7M	$15.8M	75x	as long as short
Binance AAVEUSDT	+0.0067%	8h	144.43	+0.022%	$65.7M	$183.1M	75x	as long as short
MEXC AAVE_USDT	+0.0068%	8h	144.43	+0.022%	$31.8M	$26.1M	200x	as long as short
GRVT AAVE_USDT_Perp	+0.0093%	8h	144.12	−0.196%	$450K	$4.0M	10x	as long as short
Nado AAVE-PERP	+0.0093%	1h	144.34	−0.037%	$801K	$437K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.61	+0.148%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.40	+0.001%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.49	+0.061%	$180K	$241K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.46	+0.045%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.47	+0.049%	$80.2M	$32.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.41	+0.010%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.43	+0.024%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.49	+0.063%	$61.5M	$65.5M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.44	+0.029%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.61	+0.149%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.49	+0.063%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.43	+0.022%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.47	+0.049%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.56	+0.112%	$378K	$702K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.08	−0.221%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.12	−0.195%	$100K	$313K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.40	+0.001%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.34	−0.037%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.46	+0.042%	$725K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.43	+0.022%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.43	+0.024%	$928K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0188%	8h	144.32	−0.054%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.36	−0.027%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]long	L +0.0266% / S −0.0438%	1h	144.40	long leg	$124K	—	100x