Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0286%/8h= +31.4% APRpaid last 24h +0.042%

Price spread now: Bitget against SoDEX+0.021%7-day average −0.003% · 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−$28as in the Price arb table

costs, in and out, $10k−$310.305% of the position

Long on SoDEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.065%+$7 on $10k

Price spread, last 3 days (all we have)−0.313%−$31 · spread now +0.021%, 7d avg −0.003%

Together, before fees−0.248%−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Bitget is 0.023% dearer against SoDEX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.003%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.065% in total (about 7.8% 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	144.95	−0.0186	get 0.0023% / 1h	45m 57s	$5K	$311K	10x
Short	Bitget AAVEUSDT	144.98	0.0100	get 0.0100% / 8h	2h 45m	$30.2M	$18.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.021%Rate

Funding earned: $60.14
Price spread: +0.021% → −0.003%: $2.34
Slippage, 4 orders: −$10.53
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: $31.95
Costs to cover: 0.305%
Break-even: 3.3 days

Slippage from SoDEX: live order book, 42 min ago; Bitget: 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 SoDEX live order book, 42 min ago	0.34 bp	5.4 bp −$5	9.9 bp −$99	94.6 bp −$9,461	doesn't fit
Sell Bitget live order book, 3 min ago	1.03 bp	9.4 bp −$9	14.1 bp −$141	45.2 bp −$4,522	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	−0.0370%	1h	145.01	+0.041%	$250K	$483K	50x	as long as short
SoDEX AAVE-USDlong	−0.0186%	1h	144.95	long leg	$5K	$311K	10x
01 Exchange AAVEUSD	−0.0136%	1h	145.08	+0.090%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	145.11	+0.110%	$4K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.16	+0.145%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.20	+0.172%	$74K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.10	+0.104%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	145.16	+0.143%	$3.5M	$2.0M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0019%	1h	145.02	+0.048%	$135K	$229K	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.512%	$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	145.06	+0.073%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	144.95	0.000%	$17.6M	$65.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0057%	8h	145.01	+0.041%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0062%	8h	144.99	+0.028%	$7.7M	$15.6M	75x	as long as short
Nado AAVE-PERP	+0.0077%	1h	145.08	+0.088%	$805K	$444K	10x	as long as short
Binance AAVEUSDT	+0.0078%	8h	144.98	+0.019%	$65.9M	$181.8M	75x	as long as short
MEXC AAVE_USDT	+0.0079%	8h	145.00	+0.034%	$32.2M	$26.1M	200x	as long as short
Lighter AAVE	+0.0096%	1h	145.17	+0.150%	$4.7M	$1.6M	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	145.15	+0.139%	$181K	$242K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.08	+0.088%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.12	+0.117%	$81.1M	$32.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.05	+0.066%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.10	+0.107%	$331K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.02	+0.048%	$61.7M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.10	+0.103%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.14	+0.129%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.96	+0.007%	$10.1M	$8.6M	75x	as long as short
Bitget AAVEUSDTshort	+0.0100%	8h	144.98	+0.021%	$30.2M	$18.2M	75x
BingX AAVE-USDT	+0.0100%	8h	145.00	+0.034%	—	$44.3M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.05	+0.069%	$381K	$703K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.98	+0.018%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.18	+0.159%	$101K	$313K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.21	+0.179%	$461K	$4.1M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.12	+0.117%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.96	+0.003%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.36	+0.286%	$738K	$4.8M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.04	+0.062%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.00	+0.031%	$936K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	145.03	+0.054%	$122K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0199%	8h	145.12	+0.117%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	145.44	+0.338%	$782K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	145.10	+0.106%	$125K	—	100x	as long as short