Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0123%/8h= −13.5% APRpaid last 24h −0.003%

Price spread now: SunX against RISEx−0.042%7-day average −0.014% · 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−$144as in the Price arb table

costs, in and out, $10k−$1411.406% of the position

Long on RISEx Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.042%+$4 on $10k

Price spread, last 4 days (all we have)+0.442%+$44 · spread now −0.042%, 7d avg −0.014%

Together, before fees+0.484%+$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and SunX is 0.029% cheaper against RISEx than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.014%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx AAVE/USDC	141.58	0.0223	pay 0.0028% / 1h	50m 48s	$178K	$296K	10x
Short	SunX AAVE-USDT	141.52	0.0100	get 0.0100% / 8h	7h 50m	$2K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$25.88
Price spread: −0.042% → −0.014%: −$2.88
Slippage, 4 orders: −$126.62
Fee RISEx: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: −$169.38
Costs to cover: 1.406%
Break-even: never at this rate

Slippage from RISEx: live order book, 47 min ago; SunX: live order book, 3 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, 47 min ago	1.06 bp	4.1 bp −$4	8.9 bp −$89	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	44.88 bp	67.0 bp −$67	doesn't fit	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
dYdX AAVE-USD	0.0000%	1h	141.55	−0.021%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.57	−0.010%	$46K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.59	+0.004%	$213K	$392K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.59	+0.003%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.266%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.53	−0.036%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0086%	8h	141.56	−0.017%	$17K	$8K	10x	as long as short
Phoenix AAVE	+0.0096%	1h	141.40	−0.130%	$4K	$99K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.39	−0.138%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.48	−0.073%	$827K	$400K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid AAVE	+0.0100%	1h	141.71	+0.089%	$77.4M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.61	+0.017%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.43	−0.110%	$329K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.58	−0.006%	$63.6M	$192.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.52	−0.045%	$61.0M	$69.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.52	−0.045%	$16.6M	$64.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.63	+0.033%	$92K	$221K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.56	−0.014%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.60	+0.011%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.56	−0.017%	$22.9M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.57	−0.010%	$10.3M	$9.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.53	−0.038%	$28.8M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.54	−0.031%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.52	−0.044%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.24	−0.240%	$109K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.30	−0.203%	$452K	$3.5M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.25	−0.236%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.62	+0.025%	$134K	$484K	10x	as long as short
SunX AAVE-USDTshort	+0.0100%	8h	141.52	−0.042%	$2K	$1.3M	20x
SoDEX AAVE-USD	+0.0100%	1h	141.56	−0.017%	$5K	$298K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.67	+0.058%	$667K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.52	−0.045%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.50	−0.056%	$909K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.59	+0.006%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	141.62	+0.025%	$10K	$2K	5x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	141.46	−0.088%	$753K	$2.7M	50x	as long as short
Lighter AAVE	+0.0216%	1h	141.77	+0.130%	$4.5M	$2.5M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0217%	1h	141.68	+0.068%	$385K	$732K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.57	−0.010%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDClong	+0.0223%	1h	141.58	long leg	$178K	$296K	10x
Kraken Futures PF_AAVEUSD	+0.0248%	1h	141.65	+0.044%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.58	+0.001%	$110K	—	100x	as long as short