AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0006%/8h= −0.6% APRnext payment −$0.01 per $10,000 · paid last 24h −0.007%

Price spread now: dYdX against Phoenix+0.336%106s7-day average −0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$232as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2182.181% of the position

Long on Phoenix Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 3 days (all we have)−0.534%−$53 · spread now +0.336%, 7d avg −0.051%

Together, before fees−0.677%−$68 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: dYdX is 0.387% dearer against Phoenix than usual: you sell high and buy low, +$39 on $10k if it goes back to its 7-day average of −0.051%. The two prices were read 106 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AAVE	144.01	0.0006	pay 0.0001% / 1h	29m 35s	$5K	$98K	10x
Short	dYdX AAVE-USD	144.49	0	get 0.0000% / 1h	29m 35s	$103K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Phoenix. 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 PhoenixbpFee dYdXbpOrdersPrice spread, now +0.336%Rate

Funding earned: −$1.16
Price spread: +0.336% → −0.051%: $38.7
Slippage, 4 orders: −$201.12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$180.58
Costs to cover: 2.181%
Break-even: never at this rate

Slippage from Phoenix: live order book, 83 min ago; dYdX: live order book, 39 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 Phoenix live order book, 83 min ago	0.69 bp	13.8 bp −$14	53.9 bp −$539	doesn't fit	doesn't fit
Sell dYdX live order book, 39 min ago	67.94 bp	77.4 bp −$77	206.2 bp −$2,062	387.0 bp −$38.7K	871.7 bp −$435.9K

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
01 Exchange AAVEUSD	−0.0056%	1h	144.44	+0.299%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.61	+0.414%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	144.49	+0.336%	$103K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	144.16	+0.104%	$70K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.51	+0.347%	$251K	$362K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.45	+0.308%	$70K	—	150x	as long as short
Phoenix AAVElong	+0.0006%	1h	144.01	long leg	$5K	$98K	10x
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.895%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.50	+0.340%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.39	+0.265%	—	—	20x	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	+0.0053%	8h	144.49	+0.333%	$27.0M	$24.9M	200x	as long as short
Binance AAVEUSDT	+0.0053%	8h	144.46	+0.314%	$65.1M	$184.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0072%	8h	144.37	+0.250%	$17.4M	$65.5M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.50	+0.339%	$189K	$231K	10x	as long as short
Gate AAVE_USDT	+0.0091%	8h	144.48	+0.326%	$7.8M	$15.2M	75x	as long as short
Lighter AAVE	+0.0096%	1h	144.69	+0.470%	$4.7M	$1.5M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.50	+0.340%	$122K	$146	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.48	+0.329%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.35	+0.236%	$803K	$425K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.63	+0.431%	$78.3M	$35.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.57	+0.385%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.51	+0.348%	$329K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.39	+0.264%	$61.8M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.48	+0.326%	$45K	$181K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.50	−0.356%	$58K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.56	+0.382%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.50	+0.340%	$30.0M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.46	+0.312%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.66	+0.451%	$325K	$746K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.14	+0.092%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.20	+0.129%	$104K	$319K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.87	−0.095%	$452K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.20	+0.132%	$134K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.46	+0.312%	$125K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.50	+0.337%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.50	+0.340%	$5K	$298K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.86	+0.593%	$702K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.44	+0.299%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.36	+0.243%	$917K	$1.7M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0237% / S −0.0361%	1h	144.45	+0.307%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.51	+0.347%	$774K	$2.8M	50x	as long as short