Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0320%/8h= +35.0% APRpaid last 24h +0.053%

Price spread now: GMX against BingX+0.092%7-day average +0.058% · you sell dearer than you buy

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

Long on BingX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.156%−$16 on $10k

Price spread, last 3 days (all we have)+0.031%+$3 · spread now +0.092%, 7d avg +0.058%

Together, before fees−0.125%−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and GMX is 0.034% dearer against BingX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.058%. Mind the row above: over the last 3 days funding on this pair cost −0.156%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AAVE-USDC	143.59	0.0100	pay 0.0100% / 8h	5h 12m	—	$6.5M	—
Short	GMX AAVE/USD [AAVE-USDC]	143.72	L +0.0263% / S −0.0420%	get 0.0052% / 1h	12m 11s	$124K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.092%Rate

Funding earned: $67.15
Price spread: +0.092% → +0.058%: $3.43
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $48.58
Costs to cover: 0.220%
Break-even: 1.9 days

Slippage unknown: BingX: live order book, 3 min ago; GMX: 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 BingX live order book, 3 min ago	0.69 bp	14.4 bp −$14	35.6 bp −$356	245.7 bp −$24.6K	655.5 bp −$327.7K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0376%	1h	143.61	+0.014%	$228K	$389K	50x	as long as short
01 Exchange AAVEUSD	−0.0048%	1h	143.71	+0.084%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.74	+0.102%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.71	+0.084%	$59K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.73	+0.100%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.617%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.64	+0.038%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	143.66	+0.049%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0056%	1h	143.78	+0.132%	$830K	$433K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	144.07	+0.334%	$5K	$98K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	143.77	+0.127%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.75	+0.112%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.72	+0.091%	$77.7M	$35.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.77	+0.128%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.79	+0.138%	$328K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.57	−0.014%	$64.3M	$182.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.58	−0.007%	$61.3M	$64.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.59	0.000%	$17.2M	$63.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.75	+0.111%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.07	+0.337%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.59	0.000%	$7.8M	$15.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.60	+0.007%	$26.0M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.64	+0.035%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.65	+0.042%	$30.1M	$17.4M	75x	as long as short
BingX AAVE-USDClong	+0.0100%	8h	143.59	long leg	—	$6.5M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.65	+0.042%	$320K	$691K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.28	+0.478%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.34	+0.524%	$104K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.39	+0.557%	$461K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.40	+0.564%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.74	+0.104%	$128K	$422K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.74	+0.105%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.63	+0.028%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.76	+0.118%	$692K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.67	+0.056%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.62	+0.019%	$918K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.69	+0.073%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.78	+0.131%	$186K	$236K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.85	+0.181%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]short	L +0.0263% / S −0.0420%	1h	143.72	+0.092%	$124K	—	100x
Kraken Futures PF_AAVEUSD	+0.0267%	1h	143.72	+0.090%	$3.5M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	144.02	+0.299%	$783K	$2.8M	50x	as long as short