AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0024%/8h= −2.6% APRnext payment −$0.24 per $10,000 · paid last 24h −0.018%

Price spread now: Binance against Phemex−0.073%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$530.526% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 3 days (all we have)−0.199%−$20 · spread now −0.073%, 7d avg −0.006%

Together, before fees−0.263%−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.067% cheaper against Phemex than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.006%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	145.04	0.0100	pay 0.0100% / 8h	2h 45m	$4.1M	$3.8M	50x
Short	Binance AAVEUSDT	144.93	0.0076	get 0.0076% / 8h	2h 45m	$65.9M	$181.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.073%Rate

Funding earned: −$4.95
Price spread: −0.073% → −0.006%: −$6.7
Slippage, 4 orders: −$30.63
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$64.29
Costs to cover: 0.526%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Binance: live order book, 13 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, 3 min ago	5.85 bp	17.1 bp −$17	25.8 bp −$258	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.34 bp	7.6 bp −$8	14.1 bp −$141	41.5 bp −$4,155	148.5 bp −$74.2K

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	−0.0370%	1h	145.01	−0.021%	$250K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0186%	1h	144.95	−0.062%	$5K	$311K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.08	+0.028%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	145.11	+0.048%	$4K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.04	+0.002%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.20	+0.110%	$74K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.10	+0.042%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	145.16	+0.081%	$3.5M	$2.0M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0019%	1h	145.02	−0.014%	$135K	$229K	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.571%	$422	$51K	12x	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	145.06	+0.011%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	144.95	−0.062%	$17.6M	$65.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0057%	8h	145.01	−0.021%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0062%	8h	144.99	−0.034%	$7.7M	$15.6M	75x	as long as short
Binance AAVEUSDTshort	+0.0076%	8h	144.93	−0.073%	$65.9M	$181.8M	75x
Nado AAVE-PERP	+0.0077%	1h	145.08	+0.026%	$805K	$444K	10x	as long as short
MEXC AAVE_USDT	+0.0078%	8h	144.93	−0.076%	$32.1M	$26.1M	200x	as long as short
Lighter AAVE	+0.0096%	1h	145.14	+0.072%	$4.7M	$1.6M	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	145.02	−0.015%	$180K	$242K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.96	−0.055%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.12	+0.058%	$81.1M	$32.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.07	+0.021%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.98	−0.040%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.00	−0.028%	$61.7M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.97	−0.048%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.14	+0.067%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.98	−0.041%	$10.1M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.95	−0.062%	$30.2M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.96	−0.055%	—	$44.3M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.05	+0.007%	$381K	$703K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.98	−0.044%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.18	+0.097%	$101K	$313K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.21	+0.117%	$461K	$4.1M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.12	+0.055%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.96	−0.059%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.36	+0.223%	$738K	$4.8M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	145.04	long leg	$4.1M	$3.8M	50x
Extended AAVE-USD	+0.0104%	1h	144.93	−0.077%	$936K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	145.03	−0.008%	$122K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0199%	8h	145.12	+0.055%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	145.44	+0.276%	$782K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	145.10	+0.044%	$125K	—	100x	as long as short