Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0057%/8h= −6.2% APRpaid last 24h +0.018%

Price spread now: dYdX against OKX+0.091%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$360as in the Funding arb table

Net, price: spread back to 7d avg − costs−$347as in the Price arb table

costs, in and out, $10k−$3533.529% of the position

Long on OKX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$7 on $10k

Price spread, last 4 days (all we have)−0.036%−$4 · spread now +0.091%, 7d avg +0.035%

Together, before fees−0.111%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.055% dearer against OKX than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of +0.035%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AAVE-USDT-SWAP	144.99	0.0057	pay 0.0057% / 8h	1h 10m	$17.6M	$66.9M	50x
Short	dYdX AAVE-USD	145.12	0	get 0.0000% / 1h	10m 30s	$104K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$11.97
Price spread: +0.091% → +0.035%: $5.53
Slippage, 4 orders: −$332.94
Fee OKX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$359.38
Costs to cover: 3.529%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; dYdX: live order book, 8 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, 3 min ago	0.34 bp	9.5 bp −$9	14.4 bp −$144	doesn't fit	doesn't fit
Sell dYdX live order book, 8 min ago	158.47 bp	171.6 bp −$172	178.5 bp −$1,785	205.7 bp −$20.6K	437.8 bp −$218.9K

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	145.01	+0.014%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0045%	1h	145.09	+0.069%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0035%	1h	145.11	+0.083%	$5K	$298K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0026%	1h	145.13	+0.097%	$255K	$465K	50x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	145.12	+0.091%	$104K	$5K	10x
Kalshi KXAAVEPERP	0.0000%	8h	145.11	+0.083%	$66K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.09	+0.070%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.538%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0036%	8h	145.00	+0.007%	$30.8M	$25.9M	200x	as long as short
Binance AAVEUSDT	+0.0037%	8h	145.03	+0.028%	$66.1M	$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	144.94	−0.034%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.07	+0.055%	$180K	$245K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.11	+0.083%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.22	+0.161%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAPlong	+0.0057%	8h	144.99	long leg	$17.6M	$66.9M	50x
Gate AAVE_USDT	+0.0066%	8h	145.03	+0.028%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.16	+0.121%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.29	+0.210%	$4.7M	$1.6M	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0099%	8h	145.02	+0.022%	$458K	$3.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.99	+0.001%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.99	0.000%	$802K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.14	+0.106%	$79.8M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.09	+0.071%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.09	+0.068%	$331K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.04	+0.034%	$61.6M	$65.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.03	+0.028%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.13	+0.094%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.00	+0.007%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.03	+0.028%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.04	+0.034%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.23	+0.166%	$347K	$723K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.10	+0.074%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.01	+0.016%	$104K	$315K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.10	+0.076%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.08	+0.062%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.04	+0.037%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.22	+0.156%	$695K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.14	+0.103%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.97	−0.014%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0147%	8h	145.13	+0.097%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.04	+0.037%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.06	+0.048%	$787K	$3.0M	50x	as long as short