Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.008%

Price spread now: SoDEX against OKX−0.076%7-day average +0.008% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$270.273% of the position

Long on OKX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 3 days (all we have)+0.211%+$21 · spread now −0.076%, 7d avg +0.008%

Together, before fees+0.190%+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and SoDEX is 0.084% cheaper against OKX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.008%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AAVE-USDT-SWAP	145.41	0.0066	pay 0.0066% / 8h	7h 58m	$17.8M	$67.3M	50x
Short	SoDEX AAVE-USD	145.30	−0.0020	pay 0.0003% / 1h	58m 18s	$5K	$305K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$18.07
Price spread: −0.076% → +0.008%: −$8.36
Slippage, 4 orders: −$9.25
Fee OKX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$53.68
Costs to cover: 0.273%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; SoDEX: live order book, 15 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, 6 min ago	0.34 bp	8.2 bp −$8	15.9 bp −$159	doesn't fit	doesn't fit
Sell SoDEX live order book, 15 min ago	0.34 bp	4.9 bp −$5	9.4 bp −$94	92.7 bp −$9,275	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
Kraken Futures PF_AAVEUSD	−0.0185%	1h	145.42	+0.008%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0072%	1h	145.64	+0.158%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0027%	1h	145.80	+0.268%	$5K	$98K	10x	as long as short
SoDEX AAVE-USDshort	−0.0020%	1h	145.30	−0.076%	$5K	$305K	10x
dYdX AAVE-USD	0.0000%	1h	145.51	+0.068%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.50	+0.062%	$77K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	145.39	−0.014%	$254K	$391K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.72	+0.210%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0027%	8h	145.62	+0.144%	$29.4M	$25.5M	200x	as long as short
Binance AAVEUSDT	+0.0027%	8h	145.44	+0.019%	$66.0M	$188.1M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.811%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.60	+0.134%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	145.31	−0.069%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAPlong	+0.0066%	8h	145.41	long leg	$17.8M	$67.3M	50x
Aevo AAVE-PERP	+0.0088%	1h	145.38	−0.024%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.58	+0.116%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.56	+0.100%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.57	+0.113%	$800K	$446K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.73	+0.220%	$80.1M	$35.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.64	+0.157%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.57	+0.110%	$332K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.28	−0.089%	$62.0M	$66.2M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.64	+0.158%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.52	+0.079%	$61K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	145.63	+0.151%	$7.8M	$15.1M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.60	+0.131%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.25	−0.110%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.41	0.000%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.76	+0.241%	$348K	$745K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.88	+0.320%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.86	+0.311%	$105K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.91	+0.344%	$467K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.87	+0.316%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.67	+0.179%	$128K	$455K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.30	−0.078%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.73	+0.219%	$689K	$5.1M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.27	−0.094%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.66	+0.170%	$184K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0109%	8h	145.72	+0.213%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.71	+0.207%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	145.53	+0.083%	$778K	$3.1M	50x	as long as short
Phemex AAVEUSDT	+0.0506%	8h	145.51	+0.069%	$4.1M	$3.8M	50x	as long as short