Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0003%/8h= −0.3% APRpaid last 24h +0.001%

Price spread now: RISEx against KuCoin+0.046%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$450.448% of the position

Long on KuCoin Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.046%, 7d avg −0.005%

Together, before fees−0.133%−$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: RISEx is 0.051% dearer against KuCoin than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AAVEUSDTM	143.15	0.0100	pay 0.0100% / 8h	2h 03m	$9.9M	$8.7M	75x
Short	RISEx AAVE/USDC	143.22	0.0097	get 0.0012% / 1h	3m 34s	$178K	$247K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$0.53
Price spread: +0.046% → −0.005%: $5.08
Slippage, 4 orders: −$26.79
Fee KuCoin: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$40.24
Costs to cover: 0.448%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; RISEx: live order book, 20 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, 5 min ago	1.04 bp	12.7 bp −$13	36.6 bp −$366	doesn't fit	doesn't fit
Sell RISEx live order book, 20 min ago	2.28 bp	5.3 bp −$5	8.9 bp −$89	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
Deribit AAVE_USDC-PERPETUAL	−0.0378%	1h	143.20	+0.035%	$251K	$489K	50x	as long as short
SoDEX AAVE-USD	−0.0148%	1h	143.14	−0.007%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0104%	1h	143.10	−0.035%	$10K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.10	+0.664%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.32	+0.120%	$102K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.68	+0.370%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.25	+0.073%	$69K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	143.29	+0.100%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.324%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.17	+0.013%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0045%	8h	143.12	−0.021%	$30.6M	$26.5M	200x	as long as short
Binance AAVEUSDT	+0.0046%	8h	143.17	+0.014%	$65.1M	$185.3M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	143.17	+0.014%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0052%	8h	143.16	+0.007%	$17.3M	$65.8M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0058%	1h	143.62	+0.328%	$134K	$229K	50x	as long as short
Gate AAVE_USDT	+0.0060%	8h	143.13	−0.014%	$7.7M	$16.0M	75x	as long as short
Bulk AAVE-USD	+0.0073%	1h	143.97	+0.576%	$60K	$3K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	143.60	+0.315%	$449K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	143.34	+0.130%	$4.6M	$1.7M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	143.19	+0.028%	$121K	$146	10x	as long as short
RISEx AAVE/USDCshort	+0.0097%	1h	143.22	+0.046%	$178K	$247K	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	143.18	+0.023%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.09	−0.038%	$792K	$438K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.20	+0.035%	$78.6M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.25	+0.072%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.14	−0.010%	$326K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.17	+0.014%	$60.8M	$65.7M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.19	+0.028%	$50K	$274K	10x	as long as short
KuCoin AAVEUSDTMlong	+0.0100%	8h	143.15	long leg	$9.9M	$8.7M	75x
Bitget AAVEUSDT	+0.0100%	8h	143.16	+0.007%	$29.8M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.14	−0.007%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.25	+0.070%	$379K	$709K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.38	+0.160%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.50	+0.241%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.24	+0.063%	$125K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.15	−0.003%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.25	+0.071%	$712K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.23	+0.056%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.10	−0.032%	$919K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0166%	8h	143.30	+0.105%	$3.4M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	143.44	+0.203%	$769K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.26	+0.075%	$123K	—	100x	as long as short