Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h −0.028%

Price spread now: OKX against Aevo+0.160%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$1131.134% of the position

Long on Aevo Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 3 days (all we have)−0.290%−$29 · spread now +0.160%, 7d avg −0.033%

Together, before fees−0.414%−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.193% dearer against Aevo than usual: you sell high and buy low (spread +0.160% now, against its 7-day average of −0.033%): +$19 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 25 days. At the pace of the last 7 days (−0.124% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo AAVE-PERP	146.16	0.0088	pay 0.0011% / 1h	28m 38s	$123K	$146	10x
Short	OKX AAVE-USDT-SWAP	146.39	0.0062	get 0.0062% / 8h	7h 28m	$18.0M	$66.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Aevo. 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 AevobpFee OKXbpOrdersPrice spread, now +0.160%Rate

Funding earned: −$5.43
Price spread: +0.160% → −0.033%: $19.34
Slippage, 4 orders: −$87.4
Fee Aevo: 8 bp × 2 orders: −$16
Fee OKX: 5 bp × 2 orders: −$10
Net: −$99.5
Costs to cover: 1.134%
Break-even: never at this rate

Slippage from Aevo: live order book, 45 min ago; OKX: live order book, 5 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 Aevo live order book, 45 min ago	33.86 bp	48.4 bp −$48	279.1 bp −$2,791	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.34 bp	9.5 bp −$10	18.0 bp −$180	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.23	+0.054%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0152%	1h	146.18	+0.017%	$11K	$2K	5x	as long as short
Phemex AAVEUSDT	−0.0128%	8h	146.16	+0.003%	$4.2M	$3.8M	50x	as long as short
SoDEX AAVE-USD	−0.0108%	1h	146.14	−0.011%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0092%	1h	146.16	+0.003%	$255K	$369K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.36	+0.138%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.23	+0.051%	$78K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.31	+0.106%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.19	+0.023%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0019%	8h	146.35	+0.133%	$29.2M	$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	+0.0019%	8h	146.36	+0.140%	$66.3M	$184.0M	75x	as long as short
Gate AAVE_USDT	+0.0020%	8h	146.35	+0.133%	$7.9M	$15.2M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.292%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.11	−0.029%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0047%	8h	146.12	−0.024%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAPshort	+0.0062%	8h	146.39	+0.160%	$18.0M	$66.6M	50x
BloFin AAVE-USDT	+0.0077%	8h	146.14	−0.011%	$3.5M	$3.5M	100x	as long as short
Bybit AAVEUSDT	+0.0078%	8h	146.41	+0.174%	$62.7M	$65.0M	75x	as long as short
GRVT AAVE_USDT_Perp	+0.0087%	8h	146.23	+0.047%	$460K	$3.8M	10x	as long as short
Aevo AAVE-PERPlong	+0.0088%	1h	146.16	long leg	$123K	$146	10x
ApeX Omni AAVEUSDT	+0.0092%	1h	146.26	+0.071%	$136K	$231K	50x	as long as short
Lighter AAVE	+0.0096%	1h	146.57	+0.287%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.38	+0.154%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.18	+0.017%	$799K	$424K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.43	+0.188%	$79.9M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.39	+0.159%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.38	+0.153%	$334K	$502K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.43	+0.188%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.72	−0.298%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.43	+0.188%	$10.1M	$8.8M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.41	+0.174%	$30.4M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.43	+0.188%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.27	+0.078%	$333K	$737K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.16	+0.005%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.15	−0.003%	$105K	$319K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.24	+0.058%	$128K	$426K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.06	−0.063%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.36	+0.140%	$712K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.36	+0.142%	$937K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.24	+0.058%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0233% / S −0.0363%	1h	146.14	−0.011%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.42	+0.181%	$786K	$2.9M	50x	as long as short