Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0105%/8h= +11.5% APRpaid last 24h +0.037%

Price spread now: Binance against SoDEX−0.076%7-day average +0.019% · 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−$34as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on SoDEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.052%+$5 on $10k

Price spread, last 3 days (all we have)−0.106%−$11 · spread now −0.076%, 7d avg +0.019%

Together, before fees−0.055%−$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.095% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of +0.019%). If the spread goes back, that is −$10 on $10k: about 3.0 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX AAVE-USD	145.03	−0.0070	get 0.0009% / 1h	37m 41s	$5K	$298K	10x
Short	Binance AAVEUSDT	144.92	0.0035	get 0.0035% / 8h	1h 37m	$65.9M	$185.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SoDEX. 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 SoDEXbpFee BinancebpOrdersPrice spread, now −0.076%Rate

Funding earned: $22
Price spread: −0.076% → +0.019%: −$9.5
Slippage, 4 orders: −$6.05
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$11.55
Costs to cover: 0.240%
Break-even: 10.7 days

Slippage from SoDEX: live order book, 46 min ago; Binance: live order book, 6 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, 46 min ago	0.35 bp	5.0 bp −$5	10.2 bp −$102	94.9 bp −$9,494	doesn't fit
Sell Binance live order book, 6 min ago	0.35 bp	8.4 bp −$8	15.2 bp −$152	42.2 bp −$4,222	162.1 bp −$81.0K

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
01 Exchange AAVEUSD	−0.0176%	1h	145.10	+0.048%	$11K	$2K	5x	as long as short
SoDEX AAVE-USDlong	−0.0070%	1h	145.03	long leg	$5K	$298K	10x
Phoenix AAVE	−0.0045%	1h	144.79	−0.165%	$5K	$100K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.01	−0.012%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.12	+0.062%	$67K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	145.21	+0.124%	$255K	$480K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.22	+0.133%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.564%	$422	$51K	12x	as long as short
Binance AAVEUSDTshort	+0.0035%	8h	144.92	−0.076%	$65.9M	$185.6M	75x
MEXC AAVE_USDT	+0.0035%	8h	144.97	−0.041%	$31.1M	$25.7M	200x	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	145.12	+0.061%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.93	−0.069%	$180K	$246K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	144.86	−0.117%	$17.6M	$66.7M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	145.15	+0.083%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.10	+0.049%	$3.5M	$2.1M	50x	as long as short
Gate AAVE_USDT	+0.0060%	8h	144.94	−0.062%	$7.8M	$15.8M	75x	as long as short
Bulk AAVE-USD	+0.0080%	1h	144.69	−0.237%	$61K	$3K	10x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.07	+0.027%	$123K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	144.65	−0.262%	$462K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.08	+0.037%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.89	−0.093%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.03	−0.003%	$803K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.06	+0.021%	$79.7M	$34.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.09	+0.039%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.94	−0.061%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.89	−0.097%	$61.5M	$65.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.88	−0.103%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.94	−0.062%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.98	−0.034%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.94	−0.062%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.20	+0.117%	$381K	$713K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.69	−0.236%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.63	−0.276%	$103K	$314K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.72	−0.214%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.20	+0.117%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.17	+0.099%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.22	+0.133%	$696K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.01	−0.014%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.83	−0.141%	$929K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0139%	8h	144.86	−0.117%	$3.4M	$4.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.22	+0.133%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.26	+0.159%	$783K	$3.0M	50x	as long as short