Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0224%/8h= +24.5% APRpaid last 24h −0.020%

Price spread now: Kraken Futures against OKX+0.043%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$470.469% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$5 on $10k

Price spread, last 4 days (all we have)+0.259%+$26 · spread now +0.043%, 7d avg +0.055%

Together, before fees+0.214%+$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.055%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.045% in total (about -2.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AAVE-USDT-SWAP	142.92	0.0100	pay 0.0100% / 8h	4h 24m	$17.1M	$64.2M	50x
Short	Kraken Futures PF_AAVEUSD	142.98	0.0324	get 0.0040% / 1h	24m 51s	$3.4M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.043%Rate

Funding earned: $46.96
Price spread: +0.043% → +0.055%: −$1.23
Slippage, 4 orders: −$26.94
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1.21
Costs to cover: 0.469%
Break-even: 7.2 days

Slippage from OKX: live order book, 4 min ago; Kraken Futures: live order book, 4 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, 4 min ago	0.35 bp	7.6 bp −$8	16.3 bp −$163	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	5.26 bp	13.5 bp −$13	18.9 bp −$189	140.3 bp −$14.0K	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
01 Exchange AAVEUSD	−0.0152%	1h	142.76	−0.112%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.89	−0.019%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.92	0.000%	$46K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.89	−0.021%	$219K	$401K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.87	−0.034%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0010%	1h	142.77	−0.105%	$841K	$446K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.170%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.85	−0.049%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0048%	8h	142.86	−0.042%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	143.03	+0.077%	$4K	$102K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	142.97	+0.031%	$4.5M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.66	−0.182%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.02	+0.070%	$77.0M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.89	−0.018%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.71	−0.148%	$327K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.86	−0.042%	$63.9M	$186.4M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.80	−0.084%	$61.1M	$67.1M	75x	as long as short
OKX AAVE-USDT-SWAPlong	+0.0100%	8h	142.92	long leg	$17.1M	$64.2M	50x
Arcus AAVE-USD	+0.0100%	1h	142.87	−0.035%	$64K	$205K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.50	−0.997%	$57K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.92	0.000%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.90	−0.014%	$25.2M	$23.8M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.90	−0.014%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.81	−0.077%	$29.0M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.88	−0.028%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.91	−0.007%	$336K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.60	−0.225%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.62	−0.213%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.67	−0.176%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.71	−0.147%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.92	0.000%	$125K	$386K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.82	−0.067%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.88	−0.028%	$5K	$292K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.95	+0.024%	$688K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.77	−0.105%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.85	−0.051%	$896K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.90	−0.014%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.85	−0.047%	$178K	$242K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.80	−0.084%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.87	−0.033%	$112K	—	100x	as long as short
Kraken Futures PF_AAVEUSDshort	+0.0324%	1h	142.98	+0.043%	$3.4M	$2.1M	50x
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.95	+0.021%	$793K	$2.8M	50x	as long as short