AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0052%/8h= +5.7% APRnext payment +$0.06 per $10,000 · paid last 24h +0.040%

Price spread now: Coinbase International against Backpack−0.068%7-day average +0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.140%+$14 on $10k

Price spread, last 3 days (all we have)+0.146%+$15 · spread now −0.068%, 7d avg +0.052%

Together, before fees+0.286%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.120% cheaper against Backpack than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of +0.052%). If the spread goes back, that is −$12 on $10k: about 7.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	146.53	0.0228	pay 0.0029% / 1h	50m 27s	$354K	$733K	10x
Short	Coinbase International AAVE-PERP-INTX	146.43	0.0280	get 0.0035% / 1h	50m 27s	$795K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Backpack. 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 BackpackbpFee Coinbase InternationalbpOrdersPrice spread, now −0.068%Rate

Funding earned: $10.9
Price spread: −0.068% → +0.052%: −$12.04
Slippage, 4 orders: −$18.03
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$39.17
Costs to cover: 0.380%
Break-even: 32.1 days

Slippage from Backpack: live order book, 28 min ago; Coinbase International: live order book, 3 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 Backpack live order book, 28 min ago	0.34 bp	6.0 bp −$6	68.8 bp −$688	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	3.75 bp	13.6 bp −$14	17.8 bp −$178	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
Phoenix AAVE	−0.0027%	1h	146.35	−0.123%	$5K	$99K	10x	as long as short
SoDEX AAVE-USD	−0.0024%	1h	146.44	−0.061%	$5K	$298K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0023%	1h	146.46	−0.048%	$256K	$412K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.55	+0.011%	$105K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.33	−0.136%	$83K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.50	−0.022%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.49	−0.025%	$71K	—	150x	as long as short
01 Exchange AAVEUSD	+0.0024%	1h	146.53	0.000%	$11K	$2K	5x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.531%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0042%	8h	146.53	0.000%	$31.1M	$25.6M	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	+0.0043%	8h	146.49	−0.027%	$66.8M	$185.2M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.30	−0.155%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	146.44	−0.061%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0071%	8h	146.44	−0.061%	$17.9M	$67.6M	50x	as long as short
Gate AAVE_USDT	+0.0078%	8h	146.47	−0.041%	$7.9M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.48	−0.038%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.74	+0.146%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.53	+0.001%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.44	−0.058%	$810K	$438K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.53	0.000%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.59	+0.041%	$334K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.45	−0.055%	$62.5M	$66.1M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.48	−0.034%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.49	−0.025%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.54	+0.007%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.38	−0.102%	$30.6M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.48	−0.034%	—	$44.0M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	146.32	−0.147%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.32	−0.140%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.39	−0.094%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.28	−0.171%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.52	−0.007%	$128K	$466K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.37	−0.109%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.49	−0.025%	$701K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.39	−0.096%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.43	−0.067%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.52	−0.005%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0163%	8h	146.40	−0.089%	$3.5M	$4.0M	100x	as long as short
Hyperliquid AAVE	+0.0185%	1h	146.54	+0.007%	$81.0M	$34.3M	10x	as long as short
Backpack AAVE_USDC_PERPlong	+0.0228%	1h	146.53	long leg	$354K	$733K	10x
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.50	−0.023%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXshort	+0.0280%	1h	146.43	−0.068%	$795K	$3.0M	50x