Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 13:00 UTC+0.0242%/8h= +26.5% APRpaid last 24h +0.031%

Price spread now: SunX against SoDEX−0.044%7-day average +0.006% · 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−$148as in the Price arb table

costs, in and out, $10k−$1431.430% of the position

Long on SoDEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.097%+$10 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.044%, 7d avg +0.006%

Together, before fees+0.134%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.050% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.044% now, against its 7-day average of +0.006%). If the spread goes back, that is −$5 on $10k: about 17 hours of funding at the current rate (+$7 a day). At the pace of the last 4 days (+0.097% in total) that is about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX AAVE-USD	143.06	−0.0142	get 0.0018% / 1h	24m 25s	$7K	$179K	10x
Short	SunX AAVE-USDT	143.00	0.0100	get 0.0100% / 8h	3h 24m	$2K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.044%Rate

Funding earned: $50.78
Price spread: −0.044% → +0.006%: −$5.03
Slippage, 4 orders: −$127.02
Fee SoDEX: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$97.27
Costs to cover: 1.430%
Break-even: 20.4 days

Slippage from SoDEX: live order book, 12 min ago; SunX: live order book, 2 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, 12 min ago	0.35 bp	4.9 bp −$5	9.4 bp −$94	98.9 bp −$9,889	doesn't fit
Sell SunX live order book, 2 min ago	44.86 bp	67.0 bp −$67	doesn't fit	doesn't fit	doesn't fit

AAVE on 42 exchanges

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
SoDEX AAVE-USDlong	−0.0142%	1h	143.06	long leg	$7K	$179K	10x
Phemex AAVEUSDT	−0.0094%	8h	142.94	−0.084%	$3.9M	$3.5M	50x	as long as short
01 Exchange AAVEUSD	−0.0088%	1h	143.11	+0.035%	$10K	$370	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.04	−0.014%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.05	−0.007%	$62K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.10	+0.028%	$214K	$315K	50x	as long as short
Bybit AAVEUSDT	+0.0004%	8h	143.03	−0.021%	$62.4M	$58.2M	75x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.05	−0.004%	$80K	—	150x	as long as short
Variational Omni AAVE	+0.0010%	8h	143.10	+0.031%	$3.6M	$707K	—	as long as short
Phoenix AAVE	+0.0017%	1h	143.23	+0.119%	$5K	$81K	10x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.264%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.88	−0.123%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0067%	8h	143.06	0.000%	$17K	$2K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0075%	8h	143.09	+0.021%	$16.1M	$53.1M	50x	as long as short
MEXC AAVE_USDT	+0.0088%	8h	142.98	−0.056%	$24.7M	$21.4M	200x	as long as short
Binance AAVEUSDT	+0.0088%	8h	143.01	−0.035%	$64.3M	$157.7M	75x	as long as short
Lighter AAVE	+0.0096%	1h	143.26	+0.138%	$4.7M	$2.3M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.06	+0.002%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	142.97	−0.063%	$833K	$314K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.19	+0.091%	$78.8M	$26.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.03	−0.024%	$1.2M	$1.0M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.08	+0.014%	$321K	$364K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.19	+0.091%	$95K	$209K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.02	−0.029%	$114K	$69K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.07	+0.007%	$8.3M	$13.4M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.07	+0.007%	$10.3M	$9.3M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.04	−0.014%	$29.6M	$15.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.02	−0.028%	—	$34.9M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.67	−0.274%	$110K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.80	−0.185%	$458K	$3.1M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.72	−0.238%	$153K	$233K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.06	0.000%	$131K	$377K	10x	as long as short
SunX AAVE-USDTshort	+0.0100%	8h	143.00	−0.044%	$2K	$1.1M	20x
HTX AAVE-USDT	+0.0100%	8h	143.12	+0.043%	$642K	$1.3M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.00	−0.043%	$925K	$1.4M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.10	+0.029%	$121K	—	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0128%	1h	143.19	+0.091%	$394K	$586K	10x	as long as short
RISEx AAVE/USDC	+0.0139%	1h	143.14	+0.053%	$173K	$228K	10x	as long as short
BloFin AAVE-USDT	+0.0208%	8h	142.95	−0.077%	$3.2M	$3.2M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0232%	1h	143.13	+0.049%	$764K	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0255% / S −0.0365%	1h	143.08	+0.016%	$112K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0266%	1h	143.18	+0.083%	$3.5M	$1.8M	50x	as long as short