Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.019%

Price spread now: edgeX against Phoenix+0.109%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

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

Long on Phoenix Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

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

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and edgeX is 0.109% dearer against Phoenix than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AAVE	145.11	−0.0044	get 0.0005% / 1h	48m 32s	$4K	$101K	10x
Short	edgeX AAVEUSDC	145.27	0.0100	get 0.0050% / 4h	2h 48m	$100K	$312K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.109%Rate

Funding earned: $30.21
Price spread: +0.109% → 0.000%: $10.91
Slippage, 4 orders: −$28.09
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$2.98
Costs to cover: 0.441%
Break-even: 7.7 days

Slippage from Phoenix: live order book, 4 min ago; edgeX: 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, 4 min ago	0.69 bp	13.8 bp −$14	54.2 bp −$542	doesn't fit	doesn't fit
Sell edgeX live order book, 39 min ago	3.72 bp	8.3 bp −$8	11.9 bp −$119	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	−0.0301%	1h	145.20	+0.062%	$250K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0161%	1h	145.24	+0.090%	$5K	$311K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.22	+0.076%	$11K	$2K	5x	as long as short
Phoenix AAVElong	−0.0044%	1h	145.11	long leg	$4K	$101K	10x
dYdX AAVE-USD	0.0000%	1h	145.30	+0.133%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.26	+0.103%	$74K	$1.6M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.28	+0.116%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	145.38	+0.185%	$3.5M	$2.0M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0019%	1h	145.02	−0.062%	$135K	$229K	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.616%	$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	145.22	+0.079%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	145.23	+0.083%	$17.7M	$65.7M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0058%	8h	145.15	+0.028%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0064%	8h	145.34	+0.159%	$7.8M	$15.6M	75x	as long as short
Nado AAVE-PERP	+0.0065%	1h	145.24	+0.086%	$806K	$445K	10x	as long as short
MEXC AAVE_USDT	+0.0079%	8h	145.32	+0.145%	$32.3M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0079%	8h	145.24	+0.089%	$66.0M	$181.8M	75x	as long as short
Lighter AAVE	+0.0096%	1h	145.50	+0.272%	$4.7M	$1.6M	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	145.30	+0.130%	$181K	$242K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.33	+0.153%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.47	+0.248%	$81.3M	$32.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.39	+0.193%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.36	+0.173%	$331K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.28	+0.117%	$61.9M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.29	+0.124%	$51K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.14	+0.019%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.35	+0.165%	$10.3M	$8.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.34	+0.159%	$30.3M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.33	+0.152%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.40	+0.200%	$382K	$703K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.98	−0.093%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDCshort	+0.0100%	4h	145.27	+0.109%	$100K	$312K	20x
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.95	−0.112%	$459K	$4.1M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.26	+0.103%	$127K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.17	+0.044%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.37	+0.180%	$738K	$4.8M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.24	+0.090%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.30	+0.129%	$936K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	145.23	+0.083%	$123K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0200%	8h	145.11	0.000%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	145.40	+0.200%	$782K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	145.26	+0.104%	$125K	—	100x	as long as short