Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0133%/8h= +14.5% APRpaid last 24h 0.000%

Price spread now: GRVT against Phoenix−0.181%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$460.459% of the position

Long on Phoenix Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 3 days (all we have)+0.050%+$5 · spread now −0.181%, 7d avg −0.075%

Together, before fees+0.013%+ Points / potential airdropGRVT: Active · farm board+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.106% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.181% now, against its 7-day average of −0.075%). If the spread goes back, that is −$11 on $10k: about 2.7 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AAVE	144.56	−0.0045	get 0.0006% / 1h	40m 26s	$5K	$100K	10x
Short	GRVT AAVE_USDT_Perp	144.30	0.0088	get 0.0088% / 8h	1h 40m	$451K	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.181%Rate

Funding earned: $27.84
Price spread: −0.181% → −0.075%: −$10.57
Slippage, 4 orders: −$29.9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$28.63
Costs to cover: 0.459%
Break-even: 14.2 days

Slippage from Phoenix: live order book, 73 min ago; GRVT: 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 Phoenix live order book, 73 min ago	0.69 bp	13.8 bp −$14	54.2 bp −$542	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	0.35 bp	10.5 bp −$10	21.4 bp −$214	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	−0.0184%	1h	144.62	+0.042%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0096%	1h	144.63	+0.048%	$254K	$480K	50x	as long as short
SoDEX AAVE-USD	−0.0074%	1h	144.65	+0.062%	$5K	$298K	10x	as long as short
Phoenix AAVElong	−0.0045%	1h	144.56	long leg	$5K	$100K	10x
dYdX AAVE-USD	0.0000%	1h	144.66	+0.073%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.77	+0.145%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.69	+0.093%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.257%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0034%	8h	144.66	+0.069%	$31.1M	$25.7M	200x	as long as short
Binance AAVEUSDT	+0.0035%	8h	144.60	+0.029%	$65.7M	$185.3M	75x	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	144.67	+0.079%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.71	+0.101%	$180K	$246K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0048%	8h	144.66	+0.069%	$17.4M	$66.3M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.60	+0.028%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	144.76	+0.137%	$3.5M	$2.1M	50x	as long as short
Gate AAVE_USDT	+0.0066%	8h	144.69	+0.090%	$7.8M	$15.8M	75x	as long as short
Bulk AAVE-USD	+0.0080%	1h	144.69	+0.087%	$61K	$3K	10x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.69	+0.092%	$122K	$146	10x	as long as short
GRVT AAVE_USDT_Perpshort	+0.0088%	8h	144.30	−0.181%	$451K	$3.8M	10x
Lighter AAVE	+0.0096%	1h	144.86	+0.210%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.65	+0.061%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.64	+0.055%	$801K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.80	+0.166%	$79.4M	$33.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.68	+0.083%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.66	+0.069%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.65	+0.062%	$61.4M	$65.5M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.66	+0.069%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.68	+0.083%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.62	+0.042%	$30.2M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.63	+0.048%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.77	+0.145%	$382K	$710K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.94	−0.428%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.57	+0.009%	$103K	$314K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.27	−0.201%	$134K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.76	+0.138%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.68	+0.085%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.84	+0.193%	$694K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.64	+0.055%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.61	+0.032%	$924K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0138%	8h	144.69	+0.090%	$3.4M	$4.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	144.68	+0.080%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	144.71	+0.104%	$777K	$3.0M	50x	as long as short