Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0147%/8h= −16.1% APRpaid last 24h +0.047%

Price spread now: GRVT against Kraken Futures−0.135%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$470.471% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now −0.135%, 7d avg −0.040%

Together, before fees+0.109%+ Points / potential airdropGRVT: Active · farm board+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and GRVT is 0.095% cheaper against Kraken Futures than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.040%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.117%, 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	Kraken Futures PF_AAVEUSD	143.22	0.0247	pay 0.0031% / 1h	59m 11s	$3.4M	$2.1M	50x
Short	GRVT AAVE_USDT_Perp	143.03	0.0100	get 0.0100% / 8h	3h 59m	$460K	$3.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.135%Rate

Funding earned: −$30.94
Price spread: −0.135% → −0.040%: −$9.49
Slippage, 4 orders: −$28.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$87.56
Costs to cover: 0.471%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; GRVT: live order book, 5 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, 5 min ago	3.84 bp	12.6 bp −$13	20.3 bp −$203	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	0.35 bp	12.6 bp −$13	27.7 bp −$277	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
SoDEX AAVE-USD	−0.0195%	1h	143.15	−0.049%	$5K	$302K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0169%	1h	143.15	−0.049%	$220K	$401K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.37	+0.102%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.28	+0.042%	$56K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.23	+0.007%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.371%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.24	+0.015%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	143.20	−0.014%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	143.24	+0.014%	$4K	$102K	10x	as long as short
Phemex AAVEUSDT	+0.0069%	8h	143.19	−0.021%	$4.0M	$3.7M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	143.27	+0.035%	$4.6M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.46	+0.168%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.32	+0.073%	$843K	$442K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.41	+0.133%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.42	+0.139%	$328K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.18	−0.028%	$63.9M	$187.1M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.16	−0.042%	$61.5M	$67.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.13	−0.063%	$17.1M	$64.2M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.51	+0.202%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.53	−0.482%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.24	+0.014%	$8.1M	$15.8M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.20	−0.014%	$25.0M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.18	−0.028%	$10.6M	$9.3M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.16	−0.042%	$29.1M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.23	+0.007%	—	$43.8M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.32	+0.069%	$336K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.26	+0.028%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.20	−0.012%	$103K	$280K	20x	as long as short
GRVT AAVE_USDT_Perpshort	+0.0100%	8h	143.03	−0.135%	$460K	$3.7M	10x
ApeX Omni AAVEUSDT	+0.0100%	1h	143.03	−0.133%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.39	+0.118%	$137K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.22	−0.002%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.59	+0.256%	$691K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.13	−0.063%	$902K	$1.7M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	143.45	+0.160%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.21	−0.004%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.47	+0.174%	$183K	$249K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.17	−0.035%	$3.3M	$3.6M	100x	as long as short
Hyperliquid AAVE	+0.0239%	1h	143.42	+0.139%	$78.5M	$36.5M	10x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0247%	1h	143.22	long leg	$3.4M	$2.1M	50x
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.24	+0.016%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.50	+0.195%	$796K	$2.8M	50x	as long as short