Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h −0.022%

Price spread now: Bybit against RISEx−0.155%55s7-day average −0.018% · 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—prices read too far apart to compare

costs, in and out, $10k−$260.255% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.194%+$19 · spread now −0.155%, 7d avg −0.018%

Together, before fees+0.190%+$19 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: Bybit is 0.137% cheaper against RISEx than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.018%. The two prices were read 55 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	RISEx AAVE/USDC	146.43	0.0106	pay 0.0013% / 1h	54m 47s	$186K	$246K	10x
Short	Bybit AAVEUSDT	146.20	0.0100	get 0.0100% / 8h	54m 47s	$62.4M	$66.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$1.25
Price spread: −0.155% → −0.018%: −$13.72
Slippage, 4 orders: −$8.53
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$40.49
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from RISEx: live order book, 23 min ago; Bybit: 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 RISEx live order book, 23 min ago	1.31 bp	4.3 bp −$4	7.8 bp −$78	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.34 bp	7.2 bp −$7	13.7 bp −$137	68.9 bp −$6,893	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
Phoenix AAVE	−0.0045%	1h	146.30	−0.087%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0023%	1h	146.36	−0.046%	$256K	$412K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.27	−0.107%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.38	−0.032%	$85K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.45	+0.017%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.39	−0.025%	$71K	—	150x	as long as short
01 Exchange AAVEUSD	+0.0008%	1h	146.43	+0.002%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	+0.0020%	1h	146.34	−0.059%	$5K	$298K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.465%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0042%	8h	146.32	−0.073%	$30.6M	$25.5M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0043%	8h	146.24	−0.131%	$66.6M	$185.0M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.34	−0.062%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	146.33	−0.066%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0069%	8h	146.20	−0.155%	$17.9M	$67.5M	50x	as long as short
Gate AAVE_USDT	+0.0076%	8h	146.35	−0.053%	$7.9M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.35	−0.056%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.43	+0.002%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.39	−0.024%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.28	−0.100%	$809K	$438K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.41	−0.012%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.35	−0.054%	$334K	$504K	10x	as long as short
Bybit AAVEUSDTshort	+0.0100%	8h	146.20	−0.155%	$62.4M	$66.0M	75x
Arcus AAVE-USD	+0.0100%	1h	146.39	−0.025%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.435%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.34	−0.059%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.30	−0.087%	$30.6M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.32	−0.073%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	146.32	−0.076%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.12	−0.209%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.17	−0.176%	$463K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.22	−0.141%	$136K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.45	+0.016%	$128K	$466K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.33	−0.066%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.46	+0.019%	$701K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.29	−0.094%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.32	−0.075%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDClong	+0.0106%	1h	146.43	long leg	$186K	$246K	10x
BloFin AAVE-USDT	+0.0162%	8h	146.37	−0.039%	$3.5M	$4.0M	100x	as long as short
Hyperliquid AAVE	+0.0229%	1h	146.52	+0.064%	$80.9M	$34.2M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.40	−0.020%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.43	+0.002%	$795K	$3.0M	50x	as long as short
Backpack AAVE_USDC_PERP	+0.0337%	1h	146.44	+0.009%	$354K	$733K	10x	as long as short