Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: Phemex against Binance+0.214%52s7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.425% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 4 days (all we have)+0.303%+$30 · spread now +0.214%, 7d avg +0.002%

Together, before fees+0.362%+$36 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.212% dearer against Binance than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of +0.002%. The two prices were read 52 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	Binance AAVEUSDT	140.51	0.0100	pay 0.0100% / 8h	7h 32m	$63.1M	$191.7M	75x
Short	Phemex AAVEUSDT	140.81	0.0100	get 0.0100% / 8h	7h 32m	$3.9M	$3.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Binance. 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 BinancebpFee PhemexbpOrdersPrice spread, now +0.214%Rate

Funding earned: $0
Price spread: +0.214% → +0.002%: $21.18
Slippage, 4 orders: −$20.52
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$21.34
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Phemex: live order book, 6 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 Binance live order book, 11 min ago	0.35 bp	7.5 bp −$8	13.4 bp −$134	57.8 bp −$5,783	doesn't fit
Sell Phemex live order book, 6 min ago	1.77 bp	13.3 bp −$13	21.4 bp −$214	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
dYdX AAVE-USD	0.0000%	1h	140.84	+0.233%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	140.75	+0.171%	$51K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	140.80	+0.206%	$212K	$392K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	140.83	+0.227%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.527%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.59	+0.058%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0089%	8h	140.56	+0.036%	$17K	$8K	10x	as long as short
01 Exchange AAVEUSD	+0.0096%	1h	140.74	+0.164%	$10K	$2K	5x	as long as short
Phoenix AAVE	+0.0096%	1h	141.12	+0.434%	$4K	$99K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.76	+0.175%	$13K	$4K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AAVE-PERP	+0.0100%	1h	140.60	+0.068%	$822K	$401K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	140.78	+0.192%	$76.8M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.64	+0.092%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.80	+0.206%	$328K	$391K	10x	as long as short
Binance AAVEUSDTlong	+0.0100%	8h	140.51	long leg	$63.1M	$191.7M	75x
Bybit AAVEUSDT	+0.0100%	8h	140.54	+0.021%	$60.6M	$69.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	140.57	+0.043%	$16.5M	$64.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	140.88	+0.263%	$94K	$225K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.17	+0.467%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.60	+0.064%	$8.1M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.64	+0.093%	$22.5M	$24.2M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.66	+0.107%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.61	+0.071%	$28.6M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	140.52	+0.007%	—	$43.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.05	+0.386%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.08	+0.409%	$109K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.16	+0.463%	$451K	$3.5M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.32	+0.576%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.71	+0.142%	$133K	$474K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.68	+0.117%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	140.78	+0.192%	$5K	$299K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.00	+0.349%	$663K	$5.3M	75x	as long as short
Phemex AAVEUSDTshort	+0.0100%	8h	140.81	+0.214%	$3.9M	$3.6M	50x
Extended AAVE-USD	+0.0104%	1h	140.64	+0.091%	$906K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.85	+0.240%	$119K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0171%	1h	140.93	+0.299%	$383K	$733K	10x	as long as short
Lighter AAVE	+0.0176%	1h	140.99	+0.344%	$4.5M	$2.5M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	141.00	+0.349%	$751K	$2.7M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	140.80	+0.206%	$3.2M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	140.76	+0.176%	$171K	$299K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0250%	1h	140.86	+0.248%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	140.56	+0.033%	$110K	—	100x	as long as short