Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0134%/8h= +14.7% APRpaid last 24h +0.054%

Price spread now: BingX against Kraken Futures−0.057%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$600.600% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 3 days (all we have)−0.166%−$17 · spread now −0.057%, 7d avg −0.042%

Together, before fees−0.023%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.042%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AAVEUSD	144.67	−0.0034	get 0.0004% / 1h	27m 56s	$3.5M	$2.0M	50x
Short	BingX AAVE-USDC	144.59	0.0100	get 0.0100% / 8h	6h 27m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.057%Rate

Funding earned: $28.17
Price spread: −0.057% → −0.042%: −$1.49
Slippage, 4 orders: −$39.98
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$33.3
Costs to cover: 0.600%
Break-even: 15.3 days

Slippage from Kraken Futures: live order book, 1 min ago; BingX: live order book, 3 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, 1 min ago	7.27 bp	15.6 bp −$16	22.1 bp −$221	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	0.69 bp	15.0 bp −$15	37.8 bp −$378	243.5 bp −$24.3K	676.5 bp −$338.3K

AAVE on 41 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	−0.0056%	1h	144.43	−0.168%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSDlong	−0.0034%	1h	144.67	long leg	$3.5M	$2.0M	50x
dYdX AAVE-USD	0.0000%	1h	144.37	−0.212%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.21	−0.320%	$70K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.59	−0.057%	$251K	$362K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.54	−0.094%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.55	−0.085%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.331%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.54	−0.092%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.40	−0.190%	—	—	20x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0053%	8h	144.54	−0.092%	$26.9M	$24.9M	200x	as long as short
Binance AAVEUSDT	+0.0055%	8h	144.61	−0.044%	$65.3M	$184.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0072%	8h	144.51	−0.112%	$17.4M	$65.5M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.48	−0.131%	$189K	$231K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.77	+0.068%	$4.7M	$1.5M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.60	−0.053%	$122K	$146	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.42	−0.175%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.39	−0.192%	$803K	$425K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.70	+0.019%	$78.4M	$35.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.57	−0.069%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.41	−0.181%	$329K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.54	−0.092%	$61.9M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.45	−0.154%	$45K	$181K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.50	−0.813%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.59	−0.057%	$7.8M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.59	−0.057%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.55	−0.085%	$30.1M	$18.0M	75x	as long as short
BingX AAVE-USDCshort	+0.0100%	8h	144.59	−0.057%	—	$6.5M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.71	+0.026%	$323K	$747K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.14	−0.366%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.20	−0.330%	$104K	$319K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.87	−0.552%	$452K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.20	−0.327%	$134K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.48	−0.133%	$125K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.44	−0.163%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.55	−0.085%	$5K	$298K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.59	−0.054%	$701K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.60	−0.050%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.50	−0.121%	$917K	$1.7M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0238% / S −0.0364%	1h	144.51	−0.110%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.56	−0.078%	$775K	$2.8M	50x	as long as short