Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0167%/8h= −18.3% APRpaid last 24h +0.001%

Price spread now: SunX against GMX−0.054%7-day average −0.054% · you buy dearer than you sell

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

Long on GMX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.144%+$14 on $10k

Price spread, last 3 days (all we have)−0.024%−$2 · spread now −0.054%, 7d avg −0.054%

Together, before fees+0.120%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.054%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.144%, 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]	146.31	L +0.0267% / S −0.0438%	pay 0.0033% / 1h	54m 17s	$126K	—	100x
Short	SunX AAVE-USDT	146.23	0.0100	get 0.0100% / 8h	54m 17s	$2K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$35.12
Price spread: −0.054% → −0.054%: −$0.07
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$55.19
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; SunX: 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 SunX live order book, 10 min ago	44.91 bp	68.0 bp −$68	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
Phoenix AAVE	−0.0045%	1h	146.30	−0.007%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0023%	1h	146.38	+0.048%	$256K	$412K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.27	−0.028%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.28	−0.021%	$83K	$1.5M	3.4x	as long as short
SoDEX AAVE-USD	+0.0001%	1h	146.34	+0.020%	$5K	$298K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.49	+0.120%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.41	+0.070%	$71K	—	150x	as long as short
01 Exchange AAVEUSD	+0.0008%	1h	146.30	−0.007%	$11K	$2K	5x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.391%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0042%	8h	146.33	+0.013%	$30.6M	$25.5M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0043%	8h	146.36	+0.032%	$66.7M	$185.1M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.21	−0.071%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	146.35	+0.027%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0069%	8h	146.30	−0.007%	$17.9M	$67.6M	50x	as long as short
Gate AAVE_USDT	+0.0074%	8h	146.31	0.000%	$7.9M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.38	+0.048%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.57	+0.175%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.24	−0.049%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.18	−0.092%	$809K	$438K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.32	+0.010%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.29	−0.014%	$334K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.33	+0.013%	$62.4M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.26	−0.034%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.356%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.36	+0.034%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.36	+0.034%	$30.6M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.34	+0.020%	—	$44.0M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	146.32	+0.003%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.12	−0.129%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.17	−0.096%	$463K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.22	−0.062%	$136K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.29	−0.014%	$128K	$466K	10x	as long as short
SunX AAVE-USDTshort	+0.0100%	8h	146.23	−0.054%	$2K	$1.3M	20x
HTX AAVE-USDT	+0.0100%	8h	146.44	+0.086%	$701K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.32	+0.007%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.33	+0.012%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.31	−0.003%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0162%	8h	146.37	+0.041%	$3.5M	$4.0M	100x	as long as short
Hyperliquid AAVE	+0.0222%	1h	146.43	+0.082%	$80.8M	$34.2M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]long	L +0.0267% / S −0.0438%	1h	146.31	long leg	$126K	—	100x
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.43	+0.082%	$795K	$3.0M	50x	as long as short
Backpack AAVE_USDC_PERP	+0.0337%	1h	146.44	+0.089%	$354K	$733K	10x	as long as short