Funding you earn now, next payment 03:00 UTC−0.0271%/8h= −29.6% APRnext payment −$0.34 per $10,000 · paid last 24h +0.028%
Price spread now: Phoenix against Kraken Futures+0.266%7-day average +0.022% · you sell dearer than you buy
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$560.559% of the position
Funding, last 7 days+0.112%+$11 on $10k
+Price spread, last 4 days (all we have)−0.389%−$39 · spread now +0.266%, 7d avg +0.022%
=The price spread pays, funding is against you. Phoenix is 0.244% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.266% now, against its 7-day average of +0.022%): +$24 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 3.0 days. Mind the row above: over the last 7 days funding on this pair paid +0.112%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.112% in total (about 5.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.34 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_AAVEUSD | 141.65 | 0.0327 | pay 0.0041% / 1h | 49m 12s | $3.4M | $2.1M | 50x |
| Short | Phoenix AAVE | 142.03 | 0.0056 | get 0.0007% / 1h | 49m 12s | $4K | $102K | 10x |
Kraken Futures PF_AAVEUSD
Phoenix AAVEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$56.84
- Price spread: +0.266% → +0.022%
- $24.45
- Slippage, 4 orders
- −$38.88
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$88.27
- Costs to cover
- 0.559%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; Phoenix: live order book, just now.
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 | 4.91 bp | 13.4 bp −$13 | 24.5 bp −$245 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, just now | 3.53 bp | 14.3 bp −$14 | 47.0 bp −$470 | 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 | −0.0160% | 1h | 141.83 | +0.125% | $10K | $2K | 5x | as long as short |
| Deribit AAVE_USDC-PERPETUAL | −0.0103% | 1h | 141.70 | +0.033% | $223K | $396K | 50x | as long as short |
| SoDEX AAVE-USD | −0.0082% | 1h | 141.58 | −0.052% | $5K | $298K | 10x | as long as short |
| dYdX AAVE-USD | 0.0000% | 1h | 142.07 | +0.298% | $101K | $4K | 10x | as long as short |
| Kalshi KXAAVEPERP | 0.0000% | 8h | 141.69 | +0.026% | $53K | $1.5M | 3.4x | as long as short |
| gTrade (Gains Network) AAVE/USD | L +0.0005% / S −0.0004% | 1h | 141.67 | +0.013% | $79K | — | 150x | as long as short |
| Injective AAVE/USDC PERP | +0.0033% | 1h | 136.96 | −3.313% | $422 | $51K | 12x | as long as short |
| Reya AAVERUSDPERP | +0.0044% | 1h | 141.84 | +0.133% | — | — | 20x | as long as short |
| Orderly PERP_AAVE_USDC | +0.0046% | 8h | 141.69 | +0.026% | $18K | $10K | 10x | as long as short |
| Phoenix AAVEshort | +0.0056% | 1h | 142.03 | +0.266% | $4K | $102K | 10x |
01 Exchange AAVEUSD
Deribit AAVE_USDC-PERPETUAL
SoDEX AAVE-USD
dYdX AAVE-USD
Kalshi KXAAVEPERP
gTrade (Gains Network) AAVE/USD
Injective AAVE/USDC PERP
Reya AAVERUSDPERP
Orderly PERP_AAVE_USDCShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado AAVE-PERP | +0.0066% | 1h | 141.97 | +0.227% | $832K | $438K | 10x | as long as short |
| Lighter AAVE | +0.0096% | 1h | 141.63 | −0.018% | $4.5M | $1.8M | 10x | as long as short |
| Paradex AAVE-USD-PERP | +0.0100% | 8h | 142.01 | +0.255% | $13K | $4K | 20x | as long as short |
| Hyperliquid AAVE | +0.0100% | 1h | 141.74 | +0.061% | $76.5M | $35.2M | 10x | as long as short |
| Aster AAVEUSDT | +0.0100% | 8h | 141.83 | +0.127% | $1.2M | $1.3M | 50x | as long as short |
| Pacifica AAVE | +0.0100% | 1h | 141.99 | +0.239% | $323K | $433K | 10x | as long as short |
| Binance AAVEUSDT | +0.0100% | 8h | 141.65 | −0.002% | $63.5M | $184.7M | 75x | as long as short |
| Bybit AAVEUSDT | +0.0100% | 8h | 141.63 | −0.016% | $60.6M | $66.1M | 75x | as long as short |
| OKX AAVE-USDT-SWAP | +0.0100% | 8h | 141.65 | −0.002% | $17.0M | $63.4M | 50x | as long as short |
| Arcus AAVE-USD | +0.0100% | 1h | 141.95 | +0.210% | $44K | $183K | 10x | as long as short |
| Gate AAVE_USDT | +0.0100% | 8h | 141.67 | +0.012% | $7.9M | $15.5M | 75x | as long as short |
| MEXC AAVE_USDT | +0.0100% | 8h | 141.63 | −0.016% | $25.1M | $23.6M | 200x | as long as short |
| KuCoin AAVEUSDTM | +0.0100% | 8h | 141.62 | −0.023% | $10.5M | $9.2M | 75x | as long as short |
| Bitget AAVEUSDT | +0.0100% | 8h | 141.55 | −0.073% | $28.9M | $18.2M | 75x | as long as short |
| BingX AAVE-USDT | +0.0100% | 8h | 141.64 | −0.009% | — | $44.0M | — | as long as short |
| Backpack AAVE_USDC_PERP | +0.0100% | 1h | 141.72 | +0.047% | $336K | $712K | 10x | as long as short |
| Variational Omni AAVE | +0.0100% | 8h | 142.06 | +0.287% | $3.7M | $1.3M | — | as long as short |
| edgeX AAVEUSDC | +0.0100% | 4h | 142.49 | +0.592% | $103K | $278K | 20x | as long as short |
| GRVT AAVE_USDT_Perp | +0.0100% | 8h | 142.52 | +0.612% | $450K | $3.7M | 10x | as long as short |
| ApeX Omni AAVEUSDT | +0.0100% | 1h | 142.05 | +0.280% | $132K | $219K | 50x | as long as short |
| Polymarket Perps AAVE-USD | +0.0100% | 1h | 141.92 | +0.188% | $122K | $384K | 10x | as long as short |
| SunX AAVE-USDT | +0.0100% | 8h | 141.59 | −0.047% | $2K | $1.3M | 20x | as long as short |
| HTX AAVE-USDT | +0.0100% | 8h | 142.09 | +0.309% | $684K | $5.2M | 75x | as long as short |
| Phemex AAVEUSDT | +0.0100% | 8h | 141.60 | −0.038% | $4.0M | $3.7M | 50x | as long as short |
| Bulk AAVE-USD | +0.0100% | 1h | 142.68 | +0.723% | $58K | $2K | 10x | as long as short |
| Extended AAVE-USD | +0.0104% | 1h | 141.61 | −0.027% | $895K | $1.7M | 50x | as long as short |
| Aevo AAVE-PERP | +0.0104% | 1h | 141.51 | −0.098% | $120K | $146 | 10x | as long as short |
| RISEx AAVE/USDC | +0.0136% | 1h | 141.93 | +0.192% | $177K | $241K | 10x | as long as short |
| BloFin AAVE-USDT | +0.0220% | 8h | 141.55 | −0.073% | $3.3M | $3.5M | 100x | as long as short |
| GMX AAVE/USD [AAVE-USDC] | L +0.0261% / S −0.0408% | 1h | 141.89 | +0.168% | $120K | — | 100x | as long as short |
| Kraken Futures PF_AAVEUSDlong | +0.0327% | 1h | 141.65 | long leg | $3.4M | $2.1M | 50x | |
| Coinbase International AAVE-PERP-INTX | +0.0336% | 1h | 141.73 | +0.054% | $767K | $2.8M | 50x | as long as short |
Nado AAVE-PERP
Lighter AAVE
Paradex AAVE-USD-PERP
Hyperliquid AAVE
Aster AAVEUSDT
Pacifica AAVE
Binance AAVEUSDT
Bybit AAVEUSDT
OKX AAVE-USDT-SWAP
Arcus AAVE-USD
Gate AAVE_USDT
MEXC AAVE_USDT
KuCoin AAVEUSDTM
Bitget AAVEUSDT
BingX AAVE-USDT
Backpack AAVE_USDC_PERP
Variational Omni AAVE
edgeX AAVEUSDC
GRVT AAVE_USDT_Perp
ApeX Omni AAVEUSDT
Polymarket Perps AAVE-USD
SunX AAVE-USDT
HTX AAVE-USDT
Phemex AAVEUSDT
Bulk AAVE-USD
Extended AAVE-USD
Aevo AAVE-PERP
RISEx AAVE/USDC
BloFin AAVE-USDT
GMX AAVE/USD [AAVE-USDC]
Coinbase International AAVE-PERP-INTX