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= +15.7% APRpaid last 24h +0.019%

Price spread now: Paradex against Phoenix−0.029%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Paradex is 0.029% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.029% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 16 hours 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	144.43	−0.0044	get 0.0005% / 1h	32m 50s	$4K	$101K	10x
Short	Paradex AAVE-USD-PERP	144.39	0.0100	get 0.0100% / 8h	2h 32m	$14K	$4K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.029%Rate

Funding earned: $30.2
Price spread: −0.029% → 0.000%: −$2.88
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $16.32
Costs to cover: 0.110%
Break-even: 3.2 days

Slippage unknown: Phoenix: live order book, 20 min ago; Paradex: 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 Phoenix live order book, 20 min ago	0.69 bp	13.8 bp −$14	54.2 bp −$542	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	144.37	−0.042%	$248K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0199%	1h	144.26	−0.118%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.34	−0.062%	$11K	$2K	5x	as long as short
Phoenix AAVElong	−0.0044%	1h	144.43	long leg	$4K	$101K	10x
ApeX Omni AAVEUSDT	−0.0026%	1h	144.08	−0.242%	$134K	$229K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.40	−0.018%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.35	−0.055%	$71K	$1.6M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.45	+0.017%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.41	−0.016%	$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	144.35	−0.056%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0051%	8h	144.39	−0.028%	$17.5M	$65.7M	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	+0.0056%	8h	144.34	−0.062%	$7.7M	$15.8M	75x	as long as short
MEXC AAVE_USDT	+0.0067%	8h	144.25	−0.125%	$31.6M	$26.2M	200x	as long as short
Binance AAVEUSDT	+0.0067%	8h	144.33	−0.069%	$65.7M	$183.3M	75x	as long as short
Nado AAVE-PERP	+0.0091%	1h	144.35	−0.052%	$801K	$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	144.60	+0.120%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.38	−0.032%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.41	−0.012%	$180K	$241K	10x	as long as short
Paradex AAVE-USD-PERPshort	+0.0100%	8h	144.39	−0.029%	$14K	$4K	20x
Hyperliquid AAVE	+0.0100%	1h	144.50	+0.048%	$80.2M	$33.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.23	−0.138%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.40	−0.020%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.39	−0.028%	$61.5M	$65.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.36	−0.048%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.61	+0.128%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.30	−0.090%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.37	−0.042%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.33	−0.069%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.33	−0.069%	$377K	$702K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.08	−0.242%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.26	−0.117%	$100K	$313K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.43	0.000%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.33	−0.067%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.39	−0.026%	$724K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.32	−0.076%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.23	−0.140%	$928K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0187%	8h	144.33	−0.069%	$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	+0.018%	$124K	—	100x	as long as short