Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: GRVT against Phemex+0.213%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on Phemex Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.602%−$60 · spread now +0.213%, 7d avg −0.020%

Together, before fees−0.621%+ Points / potential airdropGRVT: Active · farm board−$62 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: GRVT is 0.232% dearer against Phemex than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	141.12	0.0100	pay 0.0100% / 8h	7h 39m	$3.9M	$3.6M	50x
Short	GRVT AAVE_USDT_Perp	141.42	0.0100	get 0.0100% / 8h	7h 39m	$452K	$3.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.213%Rate

Funding earned: $0
Price spread: +0.213% → −0.020%: $23.23
Slippage, 4 orders: −$21.64
Fee Phemex: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$19.41
Costs to cover: 0.426%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; GRVT: 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, 4 min ago	2.47 bp	13.0 bp −$13	18.4 bp −$184	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	0.35 bp	10.0 bp −$10	21.5 bp −$215	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
Deribit AAVE_USDC-PERPETUAL	−0.0033%	1h	141.14	+0.014%	$213K	$392K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.21	+0.064%	$102K	$6K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.17	+0.035%	$52K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.15	+0.021%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.948%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.10	−0.016%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0088%	8h	141.10	−0.014%	$17K	$8K	10x	as long as short
01 Exchange AAVEUSD	+0.0096%	1h	141.28	+0.113%	$10K	$2K	5x	as long as short
Phoenix AAVE	+0.0096%	1h	141.54	+0.298%	$4K	$99K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.16	+0.030%	$13K	$4K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AAVE-PERP	+0.0100%	1h	141.19	+0.048%	$826K	$402K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.27	+0.106%	$77.1M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.18	+0.043%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.23	+0.076%	$329K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.12	0.000%	$63.4M	$191.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.11	−0.007%	$60.8M	$69.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.13	+0.007%	$16.6M	$64.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.34	+0.156%	$94K	$224K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.50	+0.266%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.17	+0.035%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.12	0.000%	$22.8M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.15	+0.021%	$10.2M	$9.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.12	0.000%	$28.7M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.12	0.000%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.16	+0.030%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.25	+0.089%	$109K	$282K	20x	as long as short
GRVT AAVE_USDT_Perpshort	+0.0100%	8h	141.42	+0.213%	$452K	$3.5M	10x
ApeX Omni AAVEUSDT	+0.0100%	1h	141.33	+0.149%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.28	+0.113%	$134K	$474K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.10	−0.011%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.11	−0.007%	$5K	$299K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.30	+0.125%	$665K	$5.3M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	141.12	long leg	$3.9M	$3.6M	50x
Extended AAVE-USD	+0.0104%	1h	141.07	−0.033%	$907K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.15	+0.019%	$119K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0175%	1h	141.36	+0.170%	$384K	$732K	10x	as long as short
Lighter AAVE	+0.0184%	1h	141.33	+0.150%	$4.5M	$2.5M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	141.22	+0.071%	$753K	$2.7M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.12	0.000%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	141.28	+0.112%	$171K	$299K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0249%	1h	141.21	+0.061%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.15	+0.019%	$110K	—	100x	as long as short