Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.052%

Price spread now: KuCoin against Kraken Futures−0.039%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$580.583% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

Price spread, last 3 days (all we have)−0.341%−$34 · spread now −0.039%, 7d avg −0.029%

Together, before fees−0.277%−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.029%, so right now this pair is about funding alone: +$1 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	145.17	0.0054	pay 0.0007% / 1h	20m 16s	$3.5M	$2.1M	50x
Short	KuCoin AAVEUSDTM	145.11	0.0100	get 0.0100% / 8h	1h 20m	$9.9M	$8.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.039%Rate

Funding earned: $9.66
Price spread: −0.039% → −0.029%: −$0.96
Slippage, 4 orders: −$36.29
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$49.6
Costs to cover: 0.583%
Break-even: 42.9 days

Slippage from Kraken Futures: live order book, 4 min ago; KuCoin: 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, 4 min ago	3.45 bp	12.1 bp −$12	21.2 bp −$212	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.03 bp	16.6 bp −$17	34.1 bp −$341	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	−0.0144%	1h	145.15	−0.011%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0045%	1h	145.03	−0.094%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0040%	1h	145.01	−0.108%	$5K	$298K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0026%	1h	145.03	−0.094%	$255K	$465K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.18	+0.010%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.21	+0.030%	$68K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.14	−0.017%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.653%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0036%	8h	145.05	−0.080%	$30.8M	$25.9M	200x	as long as short
Binance AAVEUSDT	+0.0037%	8h	145.04	−0.087%	$66.1M	$185.5M	75x	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	145.09	−0.055%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.20	+0.022%	$181K	$244K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	144.98	−0.128%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0053%	8h	145.06	−0.073%	$17.6M	$66.8M	50x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0054%	1h	145.17	long leg	$3.5M	$2.1M	50x
Gate AAVE_USDT	+0.0064%	8h	145.10	−0.046%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.02	−0.104%	$122K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0094%	8h	144.79	−0.262%	$457K	$3.8M	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.26	+0.063%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.13	−0.024%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.13	−0.028%	$803K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.23	+0.044%	$79.8M	$33.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.16	−0.004%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.14	−0.017%	$331K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.06	−0.073%	$61.6M	$65.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.16	−0.004%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.07	−0.063%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTMshort	+0.0100%	8h	145.11	−0.039%	$9.9M	$8.6M	75x
Bitget AAVEUSDT	+0.0100%	8h	145.04	−0.087%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.08	−0.059%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.21	+0.030%	$347K	$727K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.06	−0.075%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.72	−0.308%	$103K	$315K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.77	−0.273%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.18	+0.010%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.07	−0.064%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.25	+0.057%	$696K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.13	−0.025%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.96	−0.144%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0145%	8h	145.11	−0.039%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.14	−0.019%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.06	−0.073%	$787K	$3.0M	50x	as long as short