Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.014%

Price spread now: Gate against Phemex+0.028%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$570.567% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 3 days (all we have)−0.136%−$14 · spread now +0.028%, 7d avg −0.016%

Together, before fees−0.216%−$22 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: Gate is 0.044% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	143.62	0.0100	pay 0.0100% / 8h	6h 08m	$4.1M	$3.8M	50x
Short	Gate AAVE_USDT	143.66	0.0100	get 0.0100% / 8h	6h 08m	$7.8M	$15.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → −0.016%: $4.43
Slippage, 4 orders: −$29.71
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$52.29
Costs to cover: 0.567%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Gate: live order book, 5 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	2.08 bp	11.3 bp −$11	19.6 bp −$196	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	3.82 bp	15.1 bp −$15	28.8 bp −$288	45.1 bp −$4,513	50.7 bp −$25.3K

AAVE on 41 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	−0.0034%	1h	143.70	+0.058%	$3.4M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0032%	1h	143.76	+0.097%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.66	+0.025%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.53	−0.063%	$70K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.62	0.000%	$244K	$369K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.64	+0.017%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	143.77	+0.104%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.637%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.80	+0.122%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	143.64	+0.014%	$18K	$10K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0079%	8h	143.71	+0.063%	$26.5M	$24.9M	200x	as long as short
Binance AAVEUSDT	+0.0080%	8h	143.79	+0.118%	$64.9M	$184.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0085%	8h	143.79	+0.118%	$17.2M	$64.4M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	143.80	+0.124%	$199K	$229K	10x	as long as short
Lighter AAVE	+0.0096%	1h	143.89	+0.186%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.69	+0.047%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.70	+0.056%	$799K	$420K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.78	+0.111%	$77.8M	$35.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.67	+0.034%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.72	+0.067%	$328K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.82	+0.139%	$61.5M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.77	+0.104%	$44K	$181K	10x	as long as short
Gate AAVE_USDTshort	+0.0100%	8h	143.66	+0.028%	$7.8M	$15.2M	75x
KuCoin AAVEUSDTM	+0.0100%	8h	143.71	+0.063%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.79	+0.118%	$29.9M	$17.6M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.68	+0.042%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.67	+0.035%	$320K	$742K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.96	+0.237%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.97	+0.247%	$104K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.00	+0.264%	$450K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.04	+0.292%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.82	+0.139%	$124K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.63	+0.005%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.62	0.000%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.91	+0.205%	$697K	$5.2M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	143.62	long leg	$4.1M	$3.8M	50x
Bulk AAVE-USD	+0.0100%	1h	144.09	+0.331%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.65	+0.024%	$917K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.62	+0.003%	$121K	$146	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0250% / S −0.0390%	1h	143.63	+0.007%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.76	+0.794%	$778K	$2.8M	50x	as long as short