Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0252%/8h= +27.5% APRpaid last 24h +0.045%

Price spread now: BingX against SoDEX+0.035%7-day average +0.006% · 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−$19as in the Price arb table

costs, in and out, $10k−$210.215% of the position

Long on SoDEX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.068%+$7 on $10k

Price spread, last 3 days (all we have)−0.312%−$31 · spread now +0.035%, 7d avg +0.006%

Together, before fees−0.244%−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and BingX is 0.029% dearer against SoDEX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.006%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.068% in total (about 8.1% a year). A funding rate is set anew for every payment. 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	143.44	−0.0152	get 0.0019% / 1h	2m 10s	$5K	$299K	10x
Short	BingX AAVE-USDT	143.49	0.0100	get 0.0100% / 8h	2h 02m	—	$43.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.035%Rate

Funding earned: $52.83
Price spread: +0.035% → +0.006%: $2.88
Slippage, 4 orders: −$3.46
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: $34.25
Costs to cover: 0.215%
Break-even: 2.5 days

Slippage from SoDEX: live order book, 21 min ago; BingX: live order book, 7 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, 21 min ago	0.35 bp	5.0 bp −$5	10.2 bp −$102	94.9 bp −$9,494	doesn't fit
Sell BingX live order book, 7 min ago	0.69 bp	5.7 bp −$6	8.4 bp −$84	20.2 bp −$2,016	44.7 bp −$22.4K

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	−0.0377%	1h	143.53	+0.063%	$252K	$489K	50x	as long as short
SoDEX AAVE-USDlong	−0.0152%	1h	143.44	long leg	$5K	$299K	10x
01 Exchange AAVEUSD	−0.0112%	1h	143.27	−0.119%	$10K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	143.24	−0.139%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.32	−0.083%	$102K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.38	−0.042%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.57	+0.091%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	143.56	+0.082%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.518%	$422	$51K	12x	as long as short
Binance AAVEUSDT	+0.0044%	8h	143.48	+0.029%	$65.2M	$185.4M	75x	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	143.37	−0.051%	—	—	20x	as long as short
MEXC AAVE_USDT	+0.0045%	8h	143.46	+0.014%	$30.6M	$26.5M	200x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	143.47	+0.021%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0053%	8h	143.47	+0.021%	$17.3M	$65.9M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0058%	1h	143.62	+0.125%	$134K	$229K	50x	as long as short
Gate AAVE_USDT	+0.0063%	8h	143.49	+0.035%	$7.7M	$16.0M	75x	as long as short
Bulk AAVE-USD	+0.0073%	1h	143.97	+0.373%	$60K	$3K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	143.60	+0.112%	$449K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	143.64	+0.142%	$4.6M	$1.7M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	143.51	+0.045%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	143.39	−0.037%	$178K	$247K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.31	−0.087%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.31	−0.094%	$793K	$438K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.56	+0.084%	$78.8M	$33.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.51	+0.049%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.34	−0.071%	$326K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.51	+0.049%	$61.0M	$65.7M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.34	−0.070%	$50K	$274K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.49	+0.035%	$9.9M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.44	0.000%	$29.9M	$18.2M	75x	as long as short
BingX AAVE-USDTshort	+0.0100%	8h	143.49	+0.035%	—	$43.9M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.61	+0.119%	$379K	$711K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.38	−0.043%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.50	+0.039%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.41	−0.021%	$125K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.30	−0.095%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.62	+0.126%	$714K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.52	+0.056%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.43	−0.007%	$919K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0166%	8h	143.17	−0.188%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	143.68	+0.167%	$771K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.55	+0.076%	$123K	—	100x	as long as short