Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: ApeX Omni against Phemex−0.172%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$610.608% of the position

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 3 days (all we have)+0.042%+$4 · spread now −0.172%, 7d avg −0.001%

Together, before fees+0.049%+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.171% cheaper against Phemex than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	145.35	0.0100	pay 0.0100% / 8h	1h 09m	$4.1M	$3.8M	50x
Short	ApeX Omni AAVEUSDT	145.10	0.0100	get 0.0013% / 1h	9m 00s	$135K	$228K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now −0.172%Rate

Funding earned: $0
Price spread: −0.172% → −0.001%: −$17.11
Slippage, 4 orders: −$38.76
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$77.88
Costs to cover: 0.608%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; ApeX Omni: live order book, 7 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 Phemex live order book, 5 min ago	2.41 bp	18.1 bp −$18	28.9 bp −$289	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 7 min ago	6.90 bp	15.4 bp −$15	107.2 bp −$1,072	doesn't fit	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	−0.0128%	1h	145.27	−0.055%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0045%	1h	145.09	−0.179%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0026%	1h	145.34	−0.007%	$5K	$298K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0025%	1h	145.35	0.000%	$255K	$465K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.12	−0.157%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.40	+0.034%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.38	+0.022%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.772%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0037%	8h	145.37	+0.014%	$30.8M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0039%	8h	145.35	0.000%	$66.3M	$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	145.37	+0.011%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.27	−0.056%	$181K	$245K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.32	−0.021%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.44	+0.063%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0058%	8h	145.33	−0.014%	$17.6M	$67.0M	50x	as long as short
Gate AAVE_USDT	+0.0068%	8h	145.35	0.000%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.38	+0.017%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.55	+0.138%	$4.7M	$1.6M	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0099%	8h	145.02	−0.225%	$458K	$3.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.18	−0.119%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.32	−0.022%	$804K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.48	+0.089%	$80.0M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.40	+0.032%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.20	−0.102%	$331K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.37	+0.014%	$62.0M	$65.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.22	−0.089%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.13	−0.154%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.34	−0.007%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.40	+0.034%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.35	0.000%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.47	+0.083%	$348K	$723K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.04	−0.216%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.06	−0.201%	$104K	$315K	20x	as long as short
ApeX Omni AAVEUSDTshort	+0.0100%	1h	145.10	−0.172%	$135K	$228K	50x
Polymarket Perps AAVE-USD	+0.0100%	1h	145.43	+0.055%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.38	+0.022%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.50	+0.106%	$697K	$5.0M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	145.35	long leg	$4.1M	$3.8M	50x
Extended AAVE-USD	+0.0104%	1h	145.31	−0.027%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0154%	8h	145.38	+0.021%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.37	+0.014%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.06	−0.200%	$787K	$3.0M	50x	as long as short