Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0100%/8hpaid last 24h −0.300%

Price spread now: Deribit against BingX+0.111%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.473%−$47 on $10k

Price spread, last 3 days (all we have)+0.018%+$2 · spread now +0.111%, 7d avg −0.013%

Together, before fees−0.455%−$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.123% dearer against BingX than usual: you sell high and buy low (spread +0.111% now, against its 7-day average of −0.013%): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.1 days. At the pace of the last 7 days (−0.473% in total) that is about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AAVE-USDT	144.58	0.0100	pay 0.0100% / 8h	4h 06m	—	$42.9M	—
Short	Deribit AAVE_USDC-PERPETUAL	144.74	0	get 0.0000% / 1h	6m 25s	$210K	$379K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.111%Rate

Funding earned: −$21
Price spread: +0.111% → −0.013%: $12.35
Slippage, 4 orders: −$10.87
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$36.52
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Deribit: live order book, 26 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 BingX live order book, 7 min ago	0.69 bp	5.7 bp −$6	8.6 bp −$86	25.5 bp −$2,547	69.4 bp −$34.7K
Sell Deribit live order book, 26 min ago	3.81 bp	7.7 bp −$8	14.0 bp −$140	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
SoDEX AAVE-USD	−0.0149%	1h	144.65	+0.048%	$5K	$281K	10x	as long as short
01 Exchange AAVEUSD	−0.0024%	1h	144.72	+0.097%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.76	+0.124%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.71	+0.090%	$54K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	144.80	+0.152%	$4K	$92K	10x	as long as short
Deribit AAVE_USDC-PERPETUALshort	0.0000%	1h	144.74	+0.111%	$210K	$379K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.76	+0.124%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.270%	$422	$51K	12x	as long as short
OKX AAVE-USDT-SWAP	+0.0042%	8h	144.59	+0.007%	$18.1M	$63.1M	50x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.60	+0.012%	—	—	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	+0.0069%	8h	144.67	+0.062%	$18K	$12K	10x	as long as short
Bulk AAVE-USD	+0.0081%	1h	144.48	−0.069%	$61K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0094%	8h	144.62	+0.028%	$7.8M	$14.3M	75x	as long as short
Variational Omni AAVE	+0.0094%	8h	144.67	+0.065%	$3.8M	$1.3M	—	as long as short
Lighter AAVE	+0.0096%	1h	144.86	+0.194%	$4.7M	$1.6M	10x	as long as short
MEXC AAVE_USDT	+0.0096%	8h	144.63	+0.035%	$32.8M	$24.9M	200x	as long as short
Binance AAVEUSDT	+0.0098%	8h	144.62	+0.028%	$65.4M	$173.2M	75x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.59	+0.007%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.65	+0.045%	$825K	$428K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.77	+0.131%	$1.4M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.68	+0.070%	$338K	$482K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.58	0.000%	$61.4M	$61.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.67	+0.062%	$61K	$382K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.68	+0.069%	$10.3M	$8.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.65	+0.048%	$30.0M	$16.8M	75x	as long as short
BingX AAVE-USDTlong	+0.0100%	8h	144.58	long leg	—	$42.9M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.78	+0.138%	$331K	$589K	10x	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.62	+0.030%	$98K	$311K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.69	+0.075%	$453K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.72	+0.097%	$135K	$235K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.70	+0.083%	$130K	$466K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.62	+0.026%	$1K	$1.2M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.73	+0.104%	$737K	$4.8M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.72	+0.097%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.56	−0.015%	$928K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.72	+0.098%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0105%	1h	144.69	+0.075%	$188K	$236K	10x	as long as short
Hyperliquid AAVE	+0.0153%	1h	144.83	+0.173%	$81.3M	$28.8M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0208%	1h	144.69	+0.076%	$747K	$2.7M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0210%	1h	144.80	+0.152%	$3.5M	$2.2M	50x	as long as short
BloFin AAVE-USDT	+0.0217%	8h	144.67	+0.062%	$3.5M	$5.3M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0451%	1h	144.75	+0.120%	$127K	—	100x	as long as short