Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.006%

Price spread now: Injective against KuCoin−5.642%100s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 5.642% cheaper against KuCoin than usual: you would sell low and buy high (−$564 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 100 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	145.15	0.0100	pay 0.0100% / 8h	1h 09m	$9.9M	$8.6M	75x
Short	Injective AAVE/USDC PERP	136.96	0.0033	get 0.0004% / 1h	9m 29s	$422	$51K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −5.642%Rate

Funding earned: −$14
Price spread: −5.642% → 0.000%: −$564.24
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$590.26
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 min ago; Injective: no order-book sample. Net counts fees only.

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, 4 min ago	1.03 bp	16.2 bp −$16	33.0 bp −$330	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0128%	1h	145.27	+0.083%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0045%	1h	145.09	−0.041%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0033%	1h	145.04	−0.076%	$5K	$298K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0026%	1h	145.06	−0.062%	$255K	$465K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.12	−0.020%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.10	−0.034%	$66K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.09	−0.040%	$70K	—	150x	as long as short
Injective AAVE/USDC PERPshort	+0.0033%	1h	136.96	−5.642%	$422	$51K	12x
MEXC AAVE_USDT	+0.0037%	8h	145.19	+0.028%	$30.8M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0039%	8h	145.29	+0.096%	$66.2M	$185.2M	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	145.37	+0.148%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.27	+0.082%	$181K	$245K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.02	−0.090%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.18	+0.019%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0058%	8h	145.35	+0.138%	$17.6M	$67.0M	50x	as long as short
Gate AAVE_USDT	+0.0068%	8h	145.19	+0.028%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.08	−0.050%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.36	+0.145%	$4.7M	$1.6M	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0099%	8h	145.02	−0.088%	$458K	$3.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.18	+0.018%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.32	+0.115%	$804K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.29	+0.096%	$79.8M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.22	+0.048%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.20	+0.036%	$331K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.43	+0.193%	$61.9M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.22	+0.048%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.13	−0.016%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTMlong	+0.0100%	8h	145.15	long leg	$9.9M	$8.6M	75x
Bitget AAVEUSDT	+0.0100%	8h	145.43	+0.193%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.18	+0.021%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.20	+0.034%	$347K	$723K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.04	−0.079%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.06	−0.064%	$104K	$315K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.10	−0.034%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.43	+0.193%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.98	−0.115%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.12	−0.018%	$695K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.02	−0.090%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.16	+0.004%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0147%	8h	145.13	−0.014%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.04	−0.073%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.06	−0.062%	$787K	$3.0M	50x	as long as short