Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.056%

Price spread now: Bitget against Kraken Futures−0.200%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

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

costs, in and out, $10k−$450.453% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.123%+$12 on $10k

Price spread, last 3 days (all we have)−0.102%−$10 · spread now −0.200%, 7d avg −0.046%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.154% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.200% now, against its 7-day average of −0.046%). If the spread goes back, that is −$15 on $10k: about 5.9 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AAVEUSD	145.43	0.0012	pay 0.0002% / 1h	47m 48s	$3.5M	$2.0M	50x
Short	Bitget AAVEUSDT	145.14	0.0100	get 0.0100% / 8h	2h 47m	$30.3M	$18.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.200%Rate

Funding earned: $18.43
Price spread: −0.200% → −0.046%: −$15.4
Slippage, 4 orders: −$23.29
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$42.26
Costs to cover: 0.453%
Break-even: 23.1 days

Slippage from Kraken Futures: live order book, 1 min ago; Bitget: live order book, 1 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	5.50 bp	15.4 bp −$15	25.8 bp −$258	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	1.03 bp	9.4 bp −$9	14.1 bp −$141	45.2 bp −$4,522	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
Deribit AAVE_USDC-PERPETUAL	−0.0369%	1h	145.25	−0.125%	$250K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0158%	1h	145.25	−0.125%	$5K	$311K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.22	−0.145%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	145.11	−0.221%	$4K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.30	−0.089%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.28	−0.104%	$74K	$1.6M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.32	−0.077%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0012%	1h	145.43	long leg	$3.5M	$2.0M	50x
ApeX Omni AAVEUSDT	+0.0019%	1h	145.02	−0.283%	$135K	$229K	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.825%	$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	145.24	−0.131%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	145.12	−0.214%	$17.7M	$65.7M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0058%	8h	145.24	−0.132%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0064%	8h	145.15	−0.194%	$7.8M	$15.6M	75x	as long as short
Nado AAVE-PERP	+0.0065%	1h	145.24	−0.135%	$806K	$445K	10x	as long as short
MEXC AAVE_USDT	+0.0079%	8h	145.17	−0.180%	$32.3M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0079%	8h	145.10	−0.226%	$66.0M	$181.8M	75x	as long as short
Lighter AAVE	+0.0096%	1h	145.43	−0.002%	$4.7M	$1.6M	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	145.30	−0.091%	$181K	$242K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.33	−0.068%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.29	−0.096%	$81.2M	$32.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.32	−0.078%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.36	−0.048%	$331K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.16	−0.187%	$61.8M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.29	−0.097%	$51K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.14	−0.202%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.18	−0.173%	$10.3M	$8.5M	75x	as long as short
Bitget AAVEUSDTshort	+0.0100%	8h	145.14	−0.200%	$30.3M	$18.2M	75x
BingX AAVE-USDC	+0.0100%	8h	145.13	−0.207%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.33	−0.070%	$381K	$703K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.98	−0.313%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.27	−0.112%	$100K	$312K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.95	−0.332%	$459K	$4.1M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.30	−0.090%	$127K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.18	−0.170%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.45	+0.015%	$738K	$4.8M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.24	−0.132%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.11	−0.221%	$936K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	145.29	−0.097%	$123K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0200%	8h	145.11	−0.221%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	145.44	+0.006%	$782K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	145.32	−0.078%	$125K	—	100x	as long as short