Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h 0.000%

Price spread now: Paradex against Backpack−0.077%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.077% cheaper against Backpack than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	145.21	0.0100	pay 0.0013% / 1h	0m 55s	$332K	$584K	10x
Short	Paradex AAVE-USD-PERP	145.10	0.0100	get 0.0100% / 8h	4h 00m	$14K	$4K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$0.01
Price spread: −0.077% → 0.000%: −$7.69
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$21.7
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 32 min ago; Paradex: no order-book sample. Net counts fees only.

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, 32 min ago	0.35 bp	7.0 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1196%	1h	144.99	−0.152%	$211K	$379K	50x	as long as short
SoDEX AAVE-USD	−0.0134%	1h	145.11	−0.069%	$5K	$289K	10x	as long as short
01 Exchange AAVEUSD	−0.0016%	1h	145.22	+0.007%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.27	+0.040%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.20	−0.007%	$64K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	145.17	−0.028%	$4K	$92K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.20	−0.007%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.681%	$422	$51K	12x	as long as short
OKX AAVE-USDT-SWAP	+0.0041%	8h	145.11	−0.069%	$18.2M	$63.4M	50x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.11	−0.069%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_AAVE_USDC	+0.0070%	8h	145.13	−0.055%	$18K	$12K	10x	as long as short
Variational Omni AAVE	+0.0090%	8h	144.66	−0.376%	$3.8M	$1.3M	—	as long as short
Gate AAVE_USDT	+0.0095%	8h	145.12	−0.062%	$7.8M	$14.3M	75x	as long as short
Lighter AAVE	+0.0096%	1h	145.33	+0.080%	$4.7M	$1.7M	10x	as long as short
MEXC AAVE_USDT	+0.0097%	8h	145.09	−0.083%	$33.2M	$25.0M	200x	as long as short
Binance AAVEUSDT	+0.0098%	8h	145.12	−0.062%	$65.7M	$173.1M	75x	as long as short
Paradex AAVE-USD-PERPshort	+0.0100%	8h	145.10	−0.077%	$14K	$4K	20x
Nado AAVE-PERP	+0.0100%	1h	145.12	−0.065%	$826K	$428K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.24	+0.020%	$1.4M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.21	−0.003%	$339K	$482K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.10	−0.076%	$61.7M	$61.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.22	+0.007%	$61K	$382K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.27	+0.044%	$61K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.11	−0.069%	$10.3M	$8.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.20	−0.007%	$30.1M	$16.8M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.09	−0.083%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPlong	+0.0100%	1h	145.21	long leg	$332K	$584K	10x
edgeX AAVEUSDC	+0.0100%	4h	145.08	−0.088%	$99K	$312K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.10	−0.079%	$458K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.10	−0.076%	$135K	$235K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.23	+0.014%	$130K	$465K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.11	−0.066%	$2K	$1.2M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.18	−0.019%	$739K	$4.8M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.12	−0.062%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.07	−0.098%	$928K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	145.19	−0.016%	$123K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0105%	1h	145.16	−0.033%	$189K	$236K	10x	as long as short
Hyperliquid AAVE	+0.0189%	1h	145.37	+0.110%	$82.4M	$29.5M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0208%	1h	145.32	+0.076%	$777K	$2.9M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0210%	1h	145.27	+0.041%	$3.5M	$2.2M	50x	as long as short
BloFin AAVE-USDT	+0.0218%	8h	145.14	−0.048%	$3.5M	$5.3M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0451%	1h	145.20	−0.009%	$128K	—	100x	as long as short