Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: KuCoin against Phemex+0.215%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$690.691% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 3 days (all we have)−0.390%−$39 · spread now +0.215%, 7d avg −0.012%

Together, before fees−0.490%−$49 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: KuCoin is 0.227% dearer against Phemex than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	144.29	0.0100	pay 0.0100% / 8h	1h 29m	$4.1M	$3.8M	50x
Short	KuCoin AAVEUSDTM	144.60	0.0100	get 0.0100% / 8h	1h 29m	$9.9M	$8.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.215%Rate

Funding earned: $0
Price spread: +0.215% → −0.012%: $22.68
Slippage, 4 orders: −$45.1
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$46.42
Costs to cover: 0.691%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; KuCoin: live order book, 4 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	3.80 bp	20.9 bp −$21	32.8 bp −$328	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	0.69 bp	16.3 bp −$16	28.2 bp −$282	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	−0.0160%	1h	144.71	+0.291%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0096%	1h	144.38	+0.062%	$254K	$480K	50x	as long as short
SoDEX AAVE-USD	−0.0070%	1h	144.37	+0.055%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0045%	1h	144.64	+0.243%	$5K	$100K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.63	+0.237%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.38	+0.062%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.42	+0.091%	$70K	—	150x	as long as short
MEXC AAVE_USDT	+0.0031%	8h	144.71	+0.291%	$30.9M	$25.8M	200x	as long as short
Binance AAVEUSDT	+0.0032%	8h	144.65	+0.249%	$65.8M	$185.8M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.080%	$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	144.31	+0.015%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.76	+0.326%	$180K	$246K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	144.35	+0.042%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0051%	8h	144.69	+0.277%	$17.5M	$66.8M	50x	as long as short
Gate AAVE_USDT	+0.0054%	8h	144.65	+0.249%	$7.8M	$15.9M	75x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	144.48	+0.132%	$3.5M	$2.1M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.43	+0.097%	$122K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	144.70	+0.287%	$456K	$3.8M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.80	+0.351%	$4.6M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.60	+0.211%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.20	−0.059%	$798K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.70	+0.284%	$79.5M	$34.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.63	+0.236%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.66	+0.259%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.70	+0.284%	$61.4M	$65.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.72	+0.298%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.27	−0.016%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTMshort	+0.0100%	8h	144.60	+0.215%	$9.9M	$8.6M	75x
Bitget AAVEUSDT	+0.0100%	8h	144.72	+0.298%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.70	+0.284%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.48	+0.132%	$379K	$713K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.42	+0.088%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.64	+0.241%	$103K	$316K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.64	+0.243%	$134K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.35	+0.042%	$126K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.23	−0.039%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.56	+0.190%	$693K	$5.0M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	144.29	long leg	$4.1M	$3.8M	50x
Extended AAVE-USD	+0.0104%	1h	144.67	+0.261%	$931K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0126%	8h	144.27	−0.014%	$3.4M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	144.42	+0.092%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	144.47	+0.125%	$781K	$3.0M	50x	as long as short