Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.022%

Price spread now: BloFin against Arcus−0.092%95s7-day average −0.023% · 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—prices read too far apart to compare

costs, in and out, $10k−$330.329% of the position

Long on Arcus Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.103%+$10 on $10k

Price spread, last 4 days (all we have)+0.597%+$60 · spread now −0.092%, 7d avg −0.023%

Together, before fees+0.700%+$70 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.070% cheaper against Arcus than usual: you would sell low and buy high (spread −0.092% now, against its 7-day average of −0.023%). If the spread goes back, that is −$7 on $10k: about 47 hours of funding at the current rate (+$4 a day). The two prices were read 95 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	Arcus AAVE-USD	140.75	0.0100	pay 0.0013% / 1h	29m 40s	$94K	$228K	10x
Short	BloFin AAVE-USDT	140.62	0.0220	get 0.0220% / 8h	7h 29m	$3.2M	$3.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Arcus. 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 ArcusbpFee BloFinbpOrdersPrice spread, now −0.092%Rate

Funding earned: $25.2
Price spread: −0.092% → −0.023%: −$6.98
Slippage, 4 orders: −$16.44
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$14.73
Costs to cover: 0.329%
Break-even: 11.1 days

Slippage from Arcus: live order book, 4 min ago; BloFin: live order book, 4 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 Arcus live order book, 4 min ago	1.06 bp	7.3 bp −$7	18.3 bp −$183	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	0.35 bp	8.3 bp −$8	14.2 bp −$142	36.6 bp −$3,658	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	−0.0176%	1h	140.66	−0.064%	$211K	$393K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	140.70	−0.035%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	140.66	−0.064%	$56K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	140.73	−0.016%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.693%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.64	−0.076%	—	—	20x	as long as short
SoDEX AAVE-USD	+0.0087%	1h	140.74	−0.007%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	+0.0088%	1h	140.62	−0.092%	$10K	$2K	5x	as long as short
Orderly PERP_AAVE_USDC	+0.0089%	8h	140.64	−0.078%	$17K	$8K	10x	as long as short
Phoenix AAVE	+0.0096%	1h	140.68	−0.050%	$4K	$99K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	140.70	−0.037%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	140.57	−0.124%	$834K	$408K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	140.87	+0.085%	$76.9M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.77	+0.015%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.75	−0.003%	$343K	$409K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.71	−0.028%	$63.2M	$192.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	140.64	−0.078%	$60.6M	$69.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	140.64	−0.078%	$16.5M	$64.4M	50x	as long as short
Arcus AAVE-USDlong	+0.0100%	1h	140.75	long leg	$94K	$228K	10x
Bulk AAVE-USD	+0.0100%	1h	141.17	+0.296%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.75	0.000%	$8.2M	$16.3M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.65	−0.071%	$22.5M	$24.2M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.75	0.000%	$10.1M	$9.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.61	−0.099%	$28.5M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	140.67	−0.057%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	140.62	−0.091%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	140.75	0.000%	$108K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.16	+0.291%	$451K	$3.5M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.78	+0.021%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.72	−0.021%	$133K	$474K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.53	−0.160%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	140.70	−0.038%	$662K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	140.72	−0.021%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.56	−0.132%	$906K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.71	−0.029%	$119K	$146	10x	as long as short
Lighter AAVE	+0.0136%	1h	140.92	+0.122%	$4.5M	$2.5M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0168%	1h	140.87	+0.085%	$384K	$736K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	140.72	−0.021%	$749K	$2.7M	50x	as long as short
BloFin AAVE-USDTshort	+0.0220%	8h	140.62	−0.092%	$3.2M	$3.5M	100x
RISEx AAVE/USDC	+0.0223%	1h	140.65	−0.069%	$171K	$300K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0250%	1h	140.73	−0.014%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	140.73	−0.012%	$110K	—	100x	as long as short