Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0209%/8h= +22.9% APRpaid last 24h +0.075%

Price spread now: Coinbase International against OKX+0.035%7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.266%+$27 on $10k

Price spread, last 3 days (all we have)+0.070%+$7 · spread now +0.035%, 7d avg +0.090%

Together, before fees+0.335%+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.056% cheaper against OKX than usual: you would sell low and buy high (spread +0.035% now, against its 7-day average of +0.090%). If the spread goes back, that is −$6 on $10k: about 21 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AAVE-USDT-SWAP	144.05	0.0087	pay 0.0087% / 8h	6h 06m	$17.3M	$64.4M	50x
Short	Coinbase International AAVE-PERP-INTX	144.10	0.0296	get 0.0037% / 1h	6m 19s	$774K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.035%Rate

Funding earned: $43.91
Price spread: +0.035% → +0.090%: −$5.57
Slippage, 4 orders: −$24.28
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$5.94
Costs to cover: 0.443%
Break-even: 7.9 days

Slippage from OKX: live order book, 2 min ago; Coinbase International: live order book, 3 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 OKX live order book, 2 min ago	0.35 bp	7.7 bp −$8	13.6 bp −$136	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	4.52 bp	13.9 bp −$14	17.2 bp −$172	doesn't fit	doesn't fit

AAVE on 41 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	−0.0034%	1h	144.19	+0.097%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0032%	1h	144.03	−0.014%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.04	−0.005%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.94	−0.076%	$70K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.10	+0.035%	$245K	$370K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.07	+0.011%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	143.77	−0.194%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.922%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.02	−0.020%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.09	+0.028%	$18K	$10K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0081%	8h	144.10	+0.035%	$26.6M	$25.0M	200x	as long as short
Binance AAVEUSDT	+0.0083%	8h	144.10	+0.037%	$65.0M	$183.3M	75x	as long as short
OKX AAVE-USDT-SWAPlong	+0.0087%	8h	144.05	long leg	$17.3M	$64.4M	50x
RISEx AAVE/USDC	+0.0089%	1h	144.07	+0.016%	$199K	$229K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.30	+0.174%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.95	−0.068%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.00	−0.035%	$801K	$419K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.14	+0.065%	$78.0M	$35.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.05	−0.001%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.07	+0.011%	$328K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.11	+0.042%	$61.7M	$64.5M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.06	+0.007%	$45K	$181K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.06	+0.007%	$7.8M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.13	+0.056%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.08	+0.021%	$30.0M	$17.6M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.05	0.000%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.05	0.000%	$321K	$721K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.96	−0.063%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.60	−0.311%	$103K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.60	−0.312%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.67	−0.264%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.07	+0.014%	$126K	$421K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.97	−0.052%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.09	+0.028%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.40	+0.242%	$699K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.12	+0.049%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.09	+0.031%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.06	+0.007%	$917K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.11	+0.039%	$122K	$146	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0394%	1h	144.05	+0.001%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXshort	+0.0296%	1h	144.10	+0.035%	$774K	$2.8M	50x