Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.281%

Price spread now: Deribit against KuCoin−0.014%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

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

costs, in and out, $10k−$570.573% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.398%−$40 on $10k

Price spread, last 4 days (all we have)+0.306%+$31 · spread now −0.014%, 7d avg −0.020%

Together, before fees−0.092%−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AAVEUSDTM	143.49	0.0100	pay 0.0100% / 8h	3h 55m	$10.6M	$9.3M	75x
Short	Deribit AAVE_USDC-PERPETUAL	143.47	0	get 0.0000% / 1h	55m 47s	$220K	$401K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$21
Price spread: −0.014% → −0.020%: $0.65
Slippage, 4 orders: −$38.33
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$77.67
Costs to cover: 0.573%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Deribit: live order book, 58 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 KuCoin live order book, 3 min ago	0.35 bp	20.1 bp −$20	33.3 bp −$333	doesn't fit	doesn't fit
Sell Deribit live order book, 58 min ago	5.26 bp	9.1 bp −$9	doesn't fit	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
dYdX AAVE-USD	0.0000%	1h	143.66	+0.115%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.44	−0.035%	$55K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALshort	0.0000%	1h	143.47	−0.014%	$220K	$401K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.41	−0.059%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.551%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.26	−0.159%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	143.42	−0.049%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0051%	8h	143.47	−0.014%	$4.0M	$3.7M	50x	as long as short
Phoenix AAVE	+0.0056%	1h	143.71	+0.153%	$4K	$106K	10x	as long as short
Nado AAVE-PERP	+0.0083%	1h	143.33	−0.112%	$843K	$411K	10x	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	143.84	+0.242%	$4.6M	$2.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.59	+0.068%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.53	+0.027%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.70	+0.146%	$329K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.77	+0.195%	$64.2M	$187.6M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.80	+0.216%	$61.8M	$67.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.76	+0.188%	$17.2M	$64.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.45	−0.028%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.53	−0.669%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.50	+0.007%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.81	+0.223%	$25.1M	$23.7M	200x	as long as short
KuCoin AAVEUSDTMlong	+0.0100%	8h	143.49	long leg	$10.6M	$9.3M	75x
Bitget AAVEUSDT	+0.0100%	8h	143.51	+0.014%	$29.2M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.47	−0.014%	—	$43.8M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.38	−0.077%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.32	−0.120%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.36	−0.094%	$461K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.34	−0.105%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.35	−0.098%	$127K	$437K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.35	−0.100%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.37	−0.084%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.55	+0.042%	$690K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.45	−0.027%	$908K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.39	−0.066%	$121K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0117%	1h	143.53	+0.028%	$337K	$720K	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	143.40	−0.063%	$10K	$2K	5x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.39	−0.068%	$185K	$250K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.49	0.000%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0247%	1h	143.49	−0.001%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.40	−0.063%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.82	+0.230%	$789K	$2.8M	50x	as long as short
Hyperliquid AAVE	+0.0391%	1h	143.76	+0.188%	$79.0M	$36.7M	10x	as long as short