Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.314%

Price spread now: Deribit against SunX+0.120%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$205as in the Funding arb table

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1531.534% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.520%−$52 on $10k

Price spread, last 3 days (all we have)−0.092%−$9 · spread now +0.120%, 7d avg −0.012%

Together, before fees−0.613%−$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.133% dearer against SunX than usual: you sell high and buy low (spread +0.120% now, against its 7-day average of −0.012%): +$13 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.4 days. At the pace of the last 7 days (−0.520% in total) that is about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AAVE-USDT	146.12	0.0100	pay 0.0100% / 8h	7h 42m	$1K	$1.3M	20x
Short	Deribit AAVE_USDC-PERPETUAL	146.30	0	get 0.0000% / 1h	42m 47s	$255K	$373K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.120%Rate

Funding earned: −$21
Price spread: +0.120% → −0.012%: $13.26
Slippage, 4 orders: −$138.39
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$161.13
Costs to cover: 1.534%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; Deribit: live order book, 26 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, 11 min ago	44.92 bp	66.0 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 26 min ago	4.12 bp	7.6 bp −$8	14.6 bp −$146	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
Phemex AAVEUSDT	−0.0256%	8h	146.24	+0.079%	$4.2M	$3.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.32	+0.132%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0128%	1h	146.15	+0.018%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0061%	1h	146.21	+0.059%	$5K	$305K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.19	+0.044%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.21	+0.059%	$79K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	145.81	−0.215%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUALshort	0.0000%	1h	146.30	+0.120%	$255K	$373K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.28	+0.106%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0023%	8h	146.14	+0.011%	$29.3M	$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
Binance AAVEUSDT	+0.0024%	8h	146.07	−0.035%	$66.2M	$187.2M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.271%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.13	+0.003%	—	—	20x	as long as short
ApeX Omni AAVEUSDT	+0.0049%	1h	145.80	−0.222%	$136K	$230K	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	146.21	+0.059%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0064%	8h	146.04	−0.057%	$18.0M	$67.3M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.25	+0.087%	$124K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0093%	8h	145.86	−0.181%	$457K	$3.9M	10x	as long as short
BloFin AAVE-USDT	+0.0095%	8h	146.22	+0.066%	$3.5M	$4.1M	100x	as long as short
Lighter AAVE	+0.0096%	1h	146.43	+0.211%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.20	+0.050%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.19	+0.049%	$799K	$448K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.24	+0.079%	$79.8M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.22	+0.068%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.21	+0.057%	$334K	$503K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.08	−0.030%	$62.4M	$65.7M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.14	+0.011%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.05	−0.051%	$61K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	146.12	−0.003%	$7.9M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.10	−0.016%	$10.1M	$8.8M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.15	+0.018%	$30.3M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.05	−0.051%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.28	+0.107%	$347K	$734K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.63	−0.336%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.74	−0.261%	$105K	$318K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.21	+0.059%	$128K	$445K	10x	as long as short
SunX AAVE-USDTlong	+0.0100%	8h	146.12	long leg	$1K	$1.3M	20x
HTX AAVE-USDT	+0.0100%	8h	146.46	+0.227%	$699K	$5.1M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.05	−0.048%	$935K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.18	+0.037%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	146.28	+0.104%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.08	−0.030%	$786K	$3.1M	50x	as long as short