Funding you earn now, next payment 22:00 UTC+0.0313%/8h= +34.3% APRnext payment +$0.39 per $10,000 · paid last 24h +0.056%
Price spread now: Backpack against SoDEX+0.111%7-day average +0.030% · 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−$18as in the Price arb table
costs, in and out, $10k−$260.260% of the position
Funding, last 3 days (all we have)+0.080%+$8 on $10k
+Price spread, last 3 days (all we have)−0.399%−$40 · spread now +0.111%, 7d avg +0.030%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Backpack is 0.081% dearer against SoDEX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.030%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.080% in total (about 9.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.39 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX AAVE-USD | 144.00 | −0.0213 | get 0.0027% / 1h | 38m 36s | $5K | $302K | 10x |
| Short | Backpack AAVE_USDC_PERP | 144.16 | 0.0100 | get 0.0013% / 1h | 38m 36s | $378K | $703K | 10x |
SoDEX AAVE-USD
Backpack AAVE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against SoDEX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $65.81
- Price spread: +0.111% → +0.030%
- $8.14
- Slippage, 4 orders
- −$8.03
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $47.92
- Costs to cover
- 0.260%
- Break-even
- 1.9 days
Slippage from SoDEX: live order book, 50 min ago; Backpack: live order book, 50 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 SoDEX live order book, 50 min ago | 0.34 bp | 5.4 bp −$5 | 9.9 bp −$99 | 94.6 bp −$9,461 | doesn't fit |
| Sell Backpack live order book, 50 min ago | 0.68 bp | 8.5 bp −$9 | 94.6 bp −$946 | 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 | −0.0305% | 1h | 143.98 | −0.014% | $248K | $483K | 50x | as long as short |
| SoDEX AAVE-USDlong | −0.0213% | 1h | 144.00 | long leg | $5K | $302K | 10x | |
| 01 Exchange AAVEUSD | −0.0136% | 1h | 144.07 | +0.049% | $11K | $2K | 5x | as long as short |
| Phoenix AAVE | −0.0044% | 1h | 144.78 | +0.542% | $4K | $101K | 10x | as long as short |
| dYdX AAVE-USD | 0.0000% | 1h | 144.12 | +0.081% | $103K | $5K | 10x | as long as short |
| Kalshi KXAAVEPERP | 0.0000% | 8h | 144.05 | +0.035% | $70K | $1.6M | 3.4x | as long as short |
| ApeX Omni AAVEUSDT | +0.0001% | 1h | 144.66 | +0.458% | $134K | $229K | 50x | as long as short |
| gTrade (Gains Network) AAVE/USD | L +0.0005% / S −0.0004% | 1h | 144.13 | +0.087% | $70K | — | 150x | as long as short |
| Kraken Futures PF_AAVEUSD | +0.0012% | 1h | 144.20 | +0.136% | $3.4M | $2.1M | 50x | as long as short |
| Injective AAVE/USDC PERP | +0.0033% | 1h | 136.96 | −4.889% | $422 | $51K | 12x | as long as short |
Deribit AAVE_USDC-PERPETUAL
01 Exchange AAVEUSD
Phoenix AAVE
dYdX AAVE-USD
Kalshi KXAAVEPERP
ApeX Omni AAVEUSDT
gTrade (Gains Network) AAVE/USD
Kraken Futures PF_AAVEUSD
Injective AAVE/USDC PERPShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya AAVERUSDPERP | +0.0044% | 1h | 144.05 | +0.033% | — | — | 20x | as long as short |
| OKX AAVE-USDT-SWAP | +0.0049% | 8h | 144.13 | +0.090% | $17.5M | $65.5M | 50x | as long as short |
| Gate AAVE_USDT | +0.0052% | 8h | 144.04 | +0.028% | $7.7M | $15.7M | 75x | as long as short |
| Orderly PERP_AAVE_USDC | +0.0056% | 8h | 143.95 | −0.035% | $18K | $12K | 10x | as long as short |
| Binance AAVEUSDT | +0.0070% | 8h | 144.04 | +0.029% | $65.5M | $183.0M | 75x | as long as short |
| MEXC AAVE_USDT | +0.0070% | 8h | 144.06 | +0.042% | $31.8M | $26.1M | 200x | as long as short |
| GRVT AAVE_USDT_Perp | +0.0095% | 8h | 144.67 | +0.466% | $459K | $4.0M | 10x | as long as short |
| Lighter AAVE | +0.0096% | 1h | 144.21 | +0.142% | $4.6M | $1.6M | 10x | as long as short |
| Aevo AAVE-PERP | +0.0096% | 1h | 144.05 | +0.031% | $122K | $146 | 10x | as long as short |
| RISEx AAVE/USDC | +0.0097% | 1h | 144.11 | +0.075% | $179K | $242K | 10x | as long as short |
| Paradex AAVE-USD-PERP | +0.0100% | 8h | 144.08 | +0.058% | $13K | $4K | 20x | as long as short |
| Nado AAVE-PERP | +0.0100% | 1h | 144.04 | +0.026% | $799K | $443K | 10x | as long as short |
| Hyperliquid AAVE | +0.0100% | 1h | 144.24 | +0.167% | $80.4M | $32.7M | 10x | as long as short |
| Aster AAVEUSDT | +0.0100% | 8h | 144.08 | +0.058% | $1.3M | $1.2M | 50x | as long as short |
| Pacifica AAVE | +0.0100% | 1h | 144.11 | +0.076% | $328K | $505K | 10x | as long as short |
| Bybit AAVEUSDT | +0.0100% | 8h | 144.10 | +0.069% | $61.3M | $65.4M | 75x | as long as short |
| Arcus AAVE-USD | +0.0100% | 1h | 144.08 | +0.056% | $50K | $274K | 10x | as long as short |
| Bulk AAVE-USD | +0.0100% | 1h | 144.61 | +0.427% | $61K | $3K | 10x | as long as short |
| KuCoin AAVEUSDTM | +0.0100% | 8h | 144.14 | +0.097% | $10.3M | $8.6M | 75x | as long as short |
| Bitget AAVEUSDT | +0.0100% | 8h | 144.09 | +0.063% | $30.0M | $18.2M | 75x | as long as short |
| BingX AAVE-USDT | +0.0100% | 8h | 144.07 | +0.049% | — | $44.0M | — | as long as short |
| Backpack AAVE_USDC_PERPshort | +0.0100% | 1h | 144.16 | +0.111% | $378K | $703K | 10x | |
| Variational Omni AAVE | +0.0100% | 8h | 144.70 | +0.483% | $3.8M | $1.3M | — | as long as short |
| edgeX AAVEUSDC | +0.0100% | 4h | 144.64 | +0.447% | $100K | $312K | 20x | as long as short |
| Polymarket Perps AAVE-USD | +0.0100% | 1h | 144.11 | +0.076% | $126K | $468K | 10x | as long as short |
| SunX AAVE-USDT | +0.0100% | 8h | 143.99 | −0.009% | $1K | $1.3M | 20x | as long as short |
| HTX AAVE-USDT | +0.0100% | 8h | 144.50 | +0.349% | $732K | $4.9M | 75x | as long as short |
| Phemex AAVEUSDT | +0.0100% | 8h | 144.06 | +0.042% | $4.1M | $3.8M | 50x | as long as short |
| Extended AAVE-USD | +0.0104% | 1h | 144.07 | +0.046% | $929K | $1.8M | 50x | as long as short |
| BloFin AAVE-USDT | +0.0191% | 8h | 144.02 | +0.014% | $3.5M | $5.3M | 100x | as long as short |
| Coinbase International AAVE-PERP-INTX | +0.0248% | 1h | 144.19 | +0.132% | $776K | $3.0M | 50x | as long as short |
| GMX AAVE/USD [AAVE-USDC] | L +0.0266% / S −0.0438% | 1h | 144.12 | +0.083% | $124K | — | 100x | as long as short |
Reya AAVERUSDPERP
OKX AAVE-USDT-SWAP
Gate AAVE_USDT
Orderly PERP_AAVE_USDC
Binance AAVEUSDT
MEXC AAVE_USDT
GRVT AAVE_USDT_Perp
Lighter AAVE
Aevo AAVE-PERP
RISEx AAVE/USDC
Paradex AAVE-USD-PERP
Nado AAVE-PERP
Hyperliquid AAVE
Aster AAVEUSDT
Pacifica AAVE
Bybit AAVEUSDT
Arcus AAVE-USD
Bulk AAVE-USD
KuCoin AAVEUSDTM
Bitget AAVEUSDT
BingX AAVE-USDT
Variational Omni AAVE
edgeX AAVEUSDC
Polymarket Perps AAVE-USD
SunX AAVE-USDT
HTX AAVE-USDT
Phemex AAVEUSDT
Extended AAVE-USD
BloFin AAVE-USDT
Coinbase International AAVE-PERP-INTX
GMX AAVE/USD [AAVE-USDC]