Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0011%/8h= −1.3% APRpaid last 24h −0.016%

Price spread now: Phoenix against KuCoin+0.320%63s7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Phoenix is 0.320% dearer against KuCoin than usual: you sell high and buy low (spread +0.320% now, against zero (this spread has no 7-day history yet)): +$32 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 3 months. The two prices were read 63 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	143.96	0.0100	pay 0.0100% / 8h	5h 14m	$10.7M	$9.2M	75x
Short	Phoenix AAVE	144.42	0.0089	get 0.0011% / 1h	14m 21s	$5K	$98K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.320%Rate

Funding earned: −$2.4
Price spread: +0.320% → 0.000%: $31.95
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $10.55
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 4 min ago; Phoenix: 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	1.04 bp	15.5 bp −$15	35.3 bp −$353	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	−0.0048%	1h	143.91	−0.035%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.98	+0.014%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.04	+0.056%	$59K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.08	+0.083%	$228K	$389K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.87	−0.062%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.862%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.79	−0.118%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	144.08	+0.083%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0054%	1h	143.91	−0.031%	$831K	$433K	10x	as long as short
Phoenix AAVEshort	+0.0089%	1h	144.42	+0.320%	$5K	$98K	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	144.13	+0.117%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.96	−0.003%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.96	0.000%	$77.9M	$35.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.95	−0.007%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.94	−0.014%	$328K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.88	−0.054%	$64.4M	$182.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.84	−0.083%	$61.4M	$64.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.83	−0.090%	$17.2M	$63.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.95	−0.007%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.07	+0.079%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.92	−0.028%	$7.9M	$15.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.86	−0.069%	$26.1M	$23.7M	200x	as long as short
KuCoin AAVEUSDTMlong	+0.0100%	8h	143.96	long leg	$10.7M	$9.2M	75x
Bitget AAVEUSDT	+0.0100%	8h	143.80	−0.111%	$30.2M	$17.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.84	−0.083%	—	$43.8M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.10	+0.097%	$321K	$692K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.28	+0.220%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.34	+0.266%	$104K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.39	+0.299%	$461K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.40	+0.306%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.87	−0.063%	$128K	$422K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.05	+0.063%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.07	+0.076%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.48	+0.361%	$696K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.13	+0.118%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.88	−0.058%	$918K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.10	+0.097%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.98	+0.015%	$187K	$235K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	144.05	+0.063%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	144.11	+0.101%	$125K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0267%	1h	144.15	+0.132%	$3.5M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	144.32	+0.250%	$785K	$2.8M	50x	as long as short