Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h +0.060%

Price spread now: 01 Exchange against Phemex+0.035%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. 01 Exchange is 0.035% dearer against Phemex than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	144.43	0.0100	pay 0.0100% / 8h	2h 29m	$4.1M	$3.8M	50x
Short	01 Exchange AAVEUSD	144.48	−0.0136	pay 0.0017% / 1h	29m 50s	$11K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.035%Rate

Funding earned: −$49.56
Price spread: +0.035% → 0.000%: $3.46
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$65.1
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; 01 Exchange: no order-book sample. Net counts fees only.

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	4.50 bp	21.1 bp −$21	27.7 bp −$277	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0373%	1h	144.40	−0.021%	$249K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0189%	1h	144.37	−0.042%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSDshort	−0.0136%	1h	144.48	+0.035%	$11K	$2K	5x
Phoenix AAVE	−0.0044%	1h	144.43	0.000%	$4K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.52	+0.065%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.45	+0.014%	$71K	$1.6M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.48	+0.033%	$70K	—	150x	as long as short
ApeX Omni AAVEUSDT	+0.0006%	1h	144.42	−0.007%	$134K	$229K	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.54	+0.076%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.172%	$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	144.45	+0.017%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0051%	8h	144.52	+0.062%	$17.5M	$65.8M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0054%	8h	144.37	−0.042%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0055%	8h	144.48	+0.035%	$7.7M	$15.8M	75x	as long as short
MEXC AAVE_USDT	+0.0063%	8h	144.48	+0.035%	$31.6M	$26.3M	200x	as long as short
Binance AAVEUSDT	+0.0063%	8h	144.48	+0.032%	$65.7M	$183.6M	75x	as long as short
Nado AAVE-PERP	+0.0089%	1h	144.47	+0.029%	$802K	$436K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0094%	8h	144.35	−0.053%	$455K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.62	+0.129%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.41	−0.014%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.52	+0.063%	$180K	$241K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.48	+0.032%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.57	+0.097%	$80.2M	$33.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.47	+0.027%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.48	+0.036%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.53	+0.069%	$61.5M	$65.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.47	+0.028%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.30	−0.092%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.52	+0.062%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.48	+0.035%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.49	+0.042%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.57	+0.097%	$378K	$701K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.45	+0.013%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.32	−0.073%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.55	+0.083%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.37	−0.039%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.50	+0.046%	$722K	$4.9M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	144.43	long leg	$4.1M	$3.8M	50x
Extended AAVE-USD	+0.0104%	1h	144.47	+0.025%	$928K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0183%	8h	144.43	0.000%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.36	−0.048%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.46	+0.019%	$124K	—	100x	as long as short