Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.040%

Price spread now: Coinbase International against SunX+0.142%57s7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$146as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1581.585% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 3 days (all we have)−0.175%−$18 · spread now +0.142%, 7d avg +0.076%

Together, before fees−0.047%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Coinbase International is 0.066% dearer against SunX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.076%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AAVE-USDT	146.17	0.0100	pay 0.0100% / 8h	32m 26s	$2K	$1.3M	20x
Short	Coinbase International AAVE-PERP-INTX	146.38	0.0280	get 0.0035% / 1h	32m 26s	$789K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.142%Rate

Funding earned: $37.8
Price spread: +0.142% → +0.076%: $6.62
Slippage, 4 orders: −$140.49
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$114.08
Costs to cover: 1.585%
Break-even: 28.1 days

Slippage from SunX: live order book, 1 min ago; Coinbase International: live order book, 1 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 SunX live order book, 1 min ago	44.88 bp	66.5 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	5.47 bp	14.1 bp −$14	19.3 bp −$193	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
SoDEX AAVE-USD	−0.0066%	1h	146.27	+0.067%	$5K	$305K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	146.03	−0.097%	$5K	$99K	10x	as long as short
01 Exchange AAVEUSD	−0.0008%	1h	146.30	+0.088%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.26	+0.061%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.16	−0.008%	$84K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	146.32	+0.101%	$256K	$394K	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.36	+0.127%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.26	+0.063%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.302%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0039%	8h	146.23	+0.040%	$30.5M	$25.8M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0041%	8h	146.21	+0.024%	$66.7M	$185.9M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.17	−0.003%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	146.20	+0.019%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0073%	8h	146.20	+0.019%	$18.0M	$67.8M	50x	as long as short
Gate AAVE_USDT	+0.0080%	8h	146.25	+0.053%	$7.9M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.23	+0.040%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.50	+0.222%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.29	+0.083%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.18	+0.005%	$804K	$442K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.38	+0.142%	$80.7M	$34.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.30	+0.089%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.31	+0.093%	$334K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.24	+0.047%	$62.4M	$65.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.30	+0.088%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.88	−0.200%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.24	+0.047%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.14	−0.022%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.26	+0.060%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.39	+0.149%	$348K	$745K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.13	−0.030%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.68	−0.335%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.69	−0.329%	$461K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.11	−0.042%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.32	+0.101%	$128K	$456K	10x	as long as short
SunX AAVE-USDTlong	+0.0100%	8h	146.17	long leg	$2K	$1.3M	20x
HTX AAVE-USDT	+0.0100%	8h	146.27	+0.066%	$699K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.28	+0.074%	$4.2M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.24	+0.046%	$935K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.34	+0.117%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0157%	8h	146.26	+0.060%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.26	+0.058%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXshort	+0.0280%	1h	146.38	+0.142%	$789K	$3.0M	50x