AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0010%/8h= +1.1% APRnext payment +$0.01 per $10,000 · paid last 24h +0.013%

Price spread now: Backpack against RISEx−0.204%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on RISEx Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.041%+$4 on $10k

Price spread, last 4 days (all we have)+0.246%+$25 · spread now −0.204%, 7d avg +0.017%

Together, before fees+0.287%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.220% cheaper against RISEx than usual: you would sell low and buy high (spread −0.204% now, against its 7-day average of +0.017%). If the spread goes back, that is −$22 on $10k: about 2 months of funding at the current rate ($0 a day). At the pace of the last 3 days (+0.041% in total) that is about 18 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx AAVE/USDC	148.00	0.0090	pay 0.0011% / 1h	29m 03s	$188K	$242K	10x
Short	Backpack AAVE_USDC_PERP	147.70	0.0100	get 0.0013% / 1h	29m 03s	$350K	$595K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against RISEx. 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 RISExbpFee BackpackbpOrdersPrice spread, now −0.204%Rate

Funding earned: $2.13
Price spread: −0.204% → +0.017%: −$22.03
Slippage, 4 orders: −$8.62
Fee RISEx: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$44.52
Costs to cover: 0.246%
Break-even: 153.2 days

Slippage from RISEx: live order book, 19 min ago; Backpack: live order book, 20 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 RISEx live order book, 19 min ago	1.23 bp	4.2 bp −$4	9.7 bp −$97	doesn't fit	doesn't fit
Sell Backpack live order book, 20 min ago	0.34 bp	7.2 bp −$7	180.4 bp −$1,804	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	−0.4145%	1h	147.24	−0.515%	$214K	$379K	50x	as long as short
SoDEX AAVE-USD	−0.0102%	1h	147.76	−0.163%	$5K	$294K	10x	as long as short
Kraken Futures PF_AAVEUSD	−0.0060%	1h	147.92	−0.058%	$3.5M	$2.0M	50x	as long as short
Phoenix AAVE	−0.0039%	1h	148.27	+0.181%	$4K	$95K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	148.01	+0.006%	$106K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	148.07	+0.046%	$76K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	147.87	−0.088%	$72K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−7.460%	$422	$51K	12x	as long as short
OKX AAVE-USDT-SWAP	+0.0037%	8h	147.62	−0.258%	$18.4M	$65.9M	50x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	147.77	−0.153%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_AAVE_USDC	+0.0065%	8h	147.74	−0.177%	$19K	$12K	10x	as long as short
Nado AAVE-PERP	+0.0069%	1h	147.73	−0.183%	$833K	$437K	10x	as long as short
MEXC AAVE_USDT	+0.0085%	8h	147.61	−0.265%	$33.3M	$25.2M	200x	as long as short
Binance AAVEUSDT	+0.0086%	8h	147.64	−0.242%	$67.0M	$177.0M	75x	as long as short
01 Exchange AAVEUSD	+0.0088%	1h	148.04	+0.026%	$11K	$2K	5x	as long as short
RISEx AAVE/USDClong	+0.0090%	1h	148.00	long leg	$188K	$242K	10x
Gate AAVE_USDT	+0.0094%	8h	147.64	−0.244%	$7.9M	$14.8M	75x	as long as short
Lighter AAVE	+0.0096%	1h	147.98	−0.012%	$4.8M	$1.7M	10x	as long as short
Variational Omni AAVE	+0.0097%	8h	147.93	−0.046%	$3.9M	$1.3M	—	as long as short
GRVT AAVE_USDT_Perp	+0.0098%	8h	147.38	−0.420%	$464K	$3.9M	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	147.72	−0.190%	$62K	$3K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	147.94	−0.042%	$14K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	147.86	−0.097%	$1.4M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	148.03	+0.017%	$346K	$481K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	147.68	−0.217%	$62.5M	$63.3M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	147.99	−0.008%	$52K	$337K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	147.65	−0.238%	$10.4M	$8.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	147.55	−0.305%	$30.4M	$17.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	147.57	−0.292%	—	$43.2M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	147.70	−0.204%	$350K	$595K	10x
edgeX AAVEUSDC	+0.0100%	4h	147.99	−0.006%	$101K	$312K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	147.30	−0.474%	$137K	$235K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	147.90	−0.069%	$131K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	147.72	−0.187%	$2K	$1.2M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	148.18	+0.119%	$754K	$4.8M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	147.71	−0.197%	$4.2M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	147.74	−0.176%	$956K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	147.86	−0.096%	$125K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0206%	8h	147.63	−0.251%	$3.5M	$5.4M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0208%	1h	147.99	−0.008%	$800K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0451%	1h	147.87	−0.092%	$130K	—	100x	as long as short
Hyperliquid AAVE	+0.0563%	1h	147.85	−0.102%	$84.6M	$30.8M	10x	as long as short