Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h −0.004%

Price spread now: RISEx against Phemex+0.174%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$440.441% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.043%−$4 on $10k

Price spread, last 4 days (all we have)−0.348%−$35 · spread now +0.174%, 7d avg −0.013%

Together, before fees−0.391%−$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and RISEx is 0.187% dearer against Phemex than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	143.81	0.0036	pay 0.0036% / 8h	3h 51m	$4.0M	$3.7M	50x
Short	RISEx AAVE/USDC	144.06	0.0132	get 0.0016% / 1h	51m 58s	$186K	$250K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.174%Rate

Funding earned: $20.06
Price spread: +0.174% → −0.013%: $18.7
Slippage, 4 orders: −$26.07
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$5.31
Costs to cover: 0.441%
Break-even: 8.9 days

Slippage from Phemex: live order book, 2 min ago; RISEx: live order book, 1 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, 2 min ago	3.82 bp	13.7 bp −$14	22.5 bp −$225	doesn't fit	doesn't fit
Sell RISEx live order book, 1 min ago	0.69 bp	3.7 bp −$4	10.3 bp −$103	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
dYdX AAVE-USD	0.0000%	1h	143.99	+0.127%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.95	+0.097%	$54K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.88	+0.049%	$220K	$402K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.93	+0.085%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.763%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.71	−0.070%	$4K	$106K	10x	as long as short
Phemex AAVEUSDTlong	+0.0036%	8h	143.81	long leg	$4.0M	$3.7M	50x
Nado AAVE-PERP	+0.0043%	1h	143.95	+0.101%	$847K	$398K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.92	+0.074%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	143.87	+0.042%	$18K	$10K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	144.06	+0.174%	$4.6M	$2.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.01	+0.142%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.04	+0.159%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.99	+0.129%	$329K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.90	+0.062%	$64.4M	$188.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.89	+0.056%	$61.9M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.87	+0.042%	$17.2M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.11	+0.209%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.81	0.000%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.95	+0.097%	$8.2M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.98	+0.118%	$25.0M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.04	+0.160%	$10.6M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.95	+0.097%	$29.3M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.89	+0.056%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.38	−0.299%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.71	−0.071%	$104K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.54	−0.189%	$462K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.75	−0.042%	$134K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.03	+0.153%	$128K	$443K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.91	+0.066%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.90	+0.063%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.01	+0.140%	$693K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.91	+0.073%	$911K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.95	+0.095%	$122K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	144.08	+0.188%	$11K	$2K	5x	as long as short
RISEx AAVE/USDCshort	+0.0132%	1h	144.06	+0.174%	$186K	$250K	10x
Backpack AAVE_USDC_PERP	+0.0195%	1h	144.10	+0.202%	$338K	$720K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	144.01	+0.139%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0246%	1h	143.97	+0.113%	$3.5M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.93	+0.085%	$113K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	144.18	+0.257%	$791K	$2.8M	50x	as long as short
Hyperliquid AAVE	+0.0414%	1h	144.20	+0.271%	$79.3M	$36.7M	10x	as long as short