AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0046%/8h= +5.0% APRnext payment +$0.06 per $10,000 · paid last 24h +0.066%

Price spread now: Backpack against Kraken Futures+0.012%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$400.398% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.171%+$17 on $10k

Price spread, last 3 days (all we have)−0.404%−$40 · spread now +0.012%, 7d avg −0.013%

Together, before fees−0.233%−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Backpack is 0.025% dearer against Kraken Futures than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AAVEUSD	143.97	0.0054	pay 0.0007% / 1h	50m 14s	$3.4M	$2.1M	50x
Short	Backpack AAVE_USDC_PERP	143.99	0.0100	get 0.0013% / 1h	50m 14s	$380K	$709K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kraken Futures. 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 Kraken FuturesbpFee BackpackbpOrdersPrice spread, now +0.012%Rate

Funding earned: $9.57
Price spread: +0.012% → −0.013%: $2.49
Slippage, 4 orders: −$19.8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$27.75
Costs to cover: 0.398%
Break-even: 27.3 days

Slippage from Kraken Futures: live order book, 4 min ago; Backpack: live order book, 34 min ago.

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 Kraken Futures live order book, 4 min ago	2.78 bp	14.2 bp −$14	27.0 bp −$270	doesn't fit	doesn't fit
Sell Backpack live order book, 34 min ago	0.35 bp	6.6 bp −$7	84.5 bp −$845	doesn't fit	doesn't fit

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	−0.0200%	1h	143.91	−0.044%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0167%	1h	143.88	−0.065%	$253K	$480K	50x	as long as short
SoDEX AAVE-USD	−0.0150%	1h	143.85	−0.086%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0045%	1h	144.00	+0.018%	$5K	$100K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.00	+0.022%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.95	−0.016%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.92	−0.039%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.871%	$422	$51K	12x	as long as short
Binance AAVEUSDT	+0.0035%	8h	143.88	−0.065%	$65.3M	$185.4M	75x	as long as short
MEXC AAVE_USDT	+0.0037%	8h	143.86	−0.079%	$31.0M	$25.7M	200x	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	143.87	−0.075%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.01	+0.024%	$179K	$246K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0047%	8h	143.87	−0.072%	$17.3M	$66.0M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	143.81	−0.113%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0054%	1h	143.97	long leg	$3.4M	$2.1M	50x
Bulk AAVE-USD	+0.0056%	1h	143.94	−0.023%	$60K	$3K	10x	as long as short
Gate AAVE_USDT	+0.0063%	8h	143.89	−0.058%	$7.8M	$15.8M	75x	as long as short
GRVT AAVE_USDT_Perp	+0.0087%	8h	144.20	+0.160%	$452K	$3.9M	10x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	143.87	−0.070%	$122K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.08	+0.074%	$4.6M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.99	+0.015%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.92	−0.034%	$797K	$438K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.00	+0.018%	$79.0M	$33.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.89	−0.058%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.02	+0.034%	$328K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.87	−0.072%	$61.1M	$65.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.98	+0.005%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.91	−0.044%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.86	−0.079%	$30.0M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.88	−0.065%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	143.99	+0.012%	$380K	$709K	10x
Variational Omni AAVE	+0.0100%	8h	143.92	−0.035%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.99	+0.008%	$102K	$314K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.09	+0.081%	$134K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.98	+0.005%	$126K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.88	−0.068%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.09	+0.082%	$716K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.85	−0.086%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.81	−0.112%	$924K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0148%	8h	143.86	−0.079%	$3.4M	$5.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.94	−0.026%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	143.80	−0.120%	$772K	$3.0M	50x	as long as short