Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Backpack against Paradex+0.156%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.156% dearer against Paradex than usual: you sell high and buy low, +$16 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex AAVE-USD-PERP	144.25	0.0100	pay 0.0100% / 8h	2h 14m	$13K	$4K	20x
Short	Backpack AAVE_USDC_PERP	144.48	0.0100	get 0.0013% / 1h	14m 38s	$380K	$707K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Paradex. 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 ParadexbpFee BackpackbpOrdersPrice spread, now +0.156%Rate

Funding earned: $0
Price spread: +0.156% → 0.000%: $15.64
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: $1.64
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Backpack: live order book, 9 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Backpack live order book, 9 min ago	0.35 bp	6.6 bp −$7	84.5 bp −$845	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0165%	1h	144.37	+0.080%	$254K	$494K	50x	as long as short
SoDEX AAVE-USD	−0.0161%	1h	144.33	+0.052%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0112%	1h	144.29	+0.025%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.27	+0.011%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.28	+0.020%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.24	−0.010%	$71K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.37	+0.082%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.48	+0.154%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.057%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.30	+0.030%	—	—	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	+0.0049%	8h	144.25	−0.003%	$31.3M	$26.3M	200x	as long as short
Binance AAVEUSDT	+0.0050%	8h	144.26	+0.005%	$65.7M	$184.8M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	144.32	+0.045%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0053%	8h	144.25	−0.003%	$17.4M	$66.1M	50x	as long as short
Gate AAVE_USDT	+0.0057%	8h	144.30	+0.032%	$7.8M	$15.9M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0061%	1h	144.10	−0.107%	$134K	$230K	50x	as long as short
GRVT AAVE_USDT_Perp	+0.0086%	8h	144.18	−0.049%	$451K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.48	+0.156%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.37	+0.077%	$122K	$146	10x	as long as short
Nado AAVE-PERP	+0.0096%	1h	144.22	−0.024%	$800K	$436K	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.30	+0.029%	$179K	$245K	10x	as long as short
Paradex AAVE-USD-PERPlong	+0.0100%	8h	144.25	long leg	$13K	$4K	20x
Hyperliquid AAVE	+0.0100%	1h	144.45	+0.136%	$80.3M	$33.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.32	+0.046%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.31	+0.039%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.30	+0.032%	$61.4M	$65.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.27	+0.011%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.37	+0.080%	$10.2M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.30	+0.032%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.29	+0.025%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	144.48	+0.156%	$380K	$707K	10x
Variational Omni AAVE	+0.0100%	8h	144.27	+0.010%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.15	−0.069%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.40	+0.101%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.32	+0.043%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.43	+0.120%	$718K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.29	+0.025%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.33	+0.056%	$61K	$3K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.21	−0.028%	$924K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0169%	8h	144.30	+0.032%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.51	+0.177%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.37	+0.079%	$124K	—	100x	as long as short