Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h −0.037%

Price spread now: OKX against RISEx+0.058%7-day average −0.018% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.058%, 7d avg −0.018%

Together, before fees−0.029%−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.076% dearer against RISEx than usual: you sell high and buy low (spread +0.058% now, against its 7-day average of −0.018%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.6 days. At the pace of the last 3 days (−0.020% in total) that is about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx AAVE/USDC	145.54	0.0107	pay 0.0013% / 1h	56m 59s	$184K	$246K	10x
Short	OKX AAVE-USDT-SWAP	145.62	0.0068	get 0.0068% / 8h	7h 56m	$17.8M	$67.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$8.17
Price spread: +0.058% → −0.018%: $7.65
Slippage, 4 orders: −$8.26
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$24.79
Costs to cover: 0.243%
Break-even: never at this rate

Slippage from RISEx: live order book, 16 min ago; OKX: live order book, 2 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, 16 min ago	0.41 bp	3.4 bp −$3	7.2 bp −$72	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.34 bp	8.6 bp −$9	16.5 bp −$165	90.5 bp −$9,046	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
Kraken Futures PF_AAVEUSD	−0.0185%	1h	145.60	+0.042%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0096%	1h	145.49	−0.031%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0027%	1h	145.79	+0.175%	$5K	$102K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.50	−0.026%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.39	−0.100%	$77K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	145.48	−0.038%	$254K	$391K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.56	+0.020%	$70K	—	150x	as long as short
MEXC AAVE_USDT	+0.0027%	8h	145.61	+0.051%	$29.4M	$25.5M	200x	as long as short
Binance AAVEUSDT	+0.0027%	8h	145.61	+0.051%	$66.1M	$188.3M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.892%	$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	145.42	−0.083%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	145.42	−0.079%	$18K	$12K	10x	as long as short
SoDEX AAVE-USD	+0.0056%	1h	145.45	−0.059%	$5K	$305K	10x	as long as short
OKX AAVE-USDT-SWAPshort	+0.0068%	8h	145.62	+0.058%	$17.8M	$67.3M	50x
Aevo AAVE-PERP	+0.0088%	1h	145.58	+0.034%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.65	+0.077%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.40	−0.091%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.35	−0.127%	$795K	$453K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.70	+0.113%	$79.6M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.57	+0.021%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.40	−0.091%	$332K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.62	+0.058%	$62.1M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.50	−0.024%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.52	−0.007%	$61K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	145.58	+0.031%	$7.8M	$15.1M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.43	−0.072%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.60	+0.044%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.59	+0.038%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.68	+0.099%	$348K	$744K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.88	+0.234%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.77	+0.160%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.91	+0.258%	$467K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.87	+0.230%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.50	−0.024%	$127K	$455K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.44	−0.068%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.51	−0.015%	$688K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.53	−0.004%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.59	+0.036%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDClong	+0.0107%	1h	145.54	long leg	$184K	$246K	10x
BloFin AAVE-USDT	+0.0108%	8h	145.45	−0.059%	$3.4M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.56	+0.017%	$127K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	145.64	+0.072%	$780K	$3.1M	50x	as long as short