Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.022%

Price spread now: dYdX against KuCoin−0.036%47s7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$197as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1861.863% of the position

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)+0.086%+$9 · spread now −0.036%, 7d avg +0.016%

Together, before fees−0.025%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.052% cheaper against KuCoin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.016%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AAVEUSDTM	145.83	0.0100	pay 0.0100% / 8h	7h 37m	$10.0M	$8.8M	75x
Short	dYdX AAVE-USD	145.78	0	get 0.0000% / 1h	37m 47s	$104K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$21
Price spread: −0.036% → +0.016%: −$5.2
Slippage, 4 orders: −$164.3
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$212.5
Costs to cover: 1.863%
Break-even: never at this rate

Slippage from KuCoin: live order book, 11 min ago; dYdX: live order book, 36 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, 11 min ago	1.03 bp	16.9 bp −$17	43.8 bp −$438	doesn't fit	doesn't fit
Sell dYdX live order book, 36 min ago	67.60 bp	78.8 bp −$79	198.6 bp −$1,986	210.6 bp −$21.1K	221.1 bp −$110.5K

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
Kraken Futures PF_AAVEUSD	−0.0185%	1h	145.89	+0.043%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.71	−0.082%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0095%	1h	145.81	−0.014%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	145.85	+0.014%	$254K	$373K	50x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	145.78	−0.036%	$104K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	145.98	+0.103%	$77K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.21	+0.261%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.86	+0.023%	$71K	—	150x	as long as short
Binance AAVEUSDT	+0.0022%	8h	145.90	+0.048%	$66.1M	$186.2M	75x	as long as short
MEXC AAVE_USDT	+0.0023%	8h	145.87	+0.027%	$29.2M	$25.8M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.082%	$422	$51K	12x	as long as short
Gate AAVE_USDT	+0.0037%	8h	145.90	+0.048%	$7.9M	$15.2M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.77	−0.043%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0048%	8h	145.79	−0.027%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0060%	8h	145.79	−0.027%	$4.1M	$3.8M	50x	as long as short
Bybit AAVEUSDT	+0.0062%	8h	145.92	+0.062%	$62.4M	$65.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	145.94	+0.075%	$17.9M	$67.1M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0069%	1h	145.93	+0.069%	$136K	$230K	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.83	−0.001%	$123K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0094%	8h	145.78	−0.034%	$3.5M	$4.0M	100x	as long as short
Lighter AAVE	+0.0096%	1h	146.01	+0.125%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.86	+0.024%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.70	−0.086%	$797K	$446K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.05	+0.151%	$79.7M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.97	+0.096%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.78	−0.037%	$333K	$503K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.84	+0.007%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.72	−0.075%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTMlong	+0.0100%	8h	145.83	long leg	$10.0M	$8.8M	75x
Bitget AAVEUSDT	+0.0100%	8h	145.90	+0.048%	$30.3M	$18.1M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.87	+0.027%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.02	+0.130%	$346K	$733K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.08	+0.173%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.02	+0.127%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.12	+0.197%	$462K	$3.9M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.87	+0.027%	$128K	$427K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.78	−0.031%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.12	+0.201%	$698K	$5.1M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.82	−0.004%	$932K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.88	+0.031%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.85	+0.011%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	145.86	+0.021%	$784K	$3.1M	50x	as long as short