Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: Phemex against BingX+0.014%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$420.421% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now +0.014%, 7d avg +0.016%

Together, before fees+0.102%+$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AAVE-USDT	140.97	0.0100	pay 0.0100% / 8h	20m 15s	—	$43.6M	—
Short	Phemex AAVEUSDT	140.99	0.0100	get 0.0100% / 8h	20m 15s	$3.9M	$3.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → +0.016%: −$0.2
Slippage, 4 orders: −$20.11
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$42.31
Costs to cover: 0.421%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Phemex: live order book, 4 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, 9 min ago	0.71 bp	5.8 bp −$6	8.6 bp −$86	18.5 bp −$1,853	45.6 bp −$22.8K
Sell Phemex live order book, 4 min ago	4.61 bp	16.5 bp −$17	23.6 bp −$236	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	140.80	−0.121%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.00	+0.021%	$45K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	140.97	0.000%	$213K	$392K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.01	+0.031%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.845%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.85	−0.084%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0082%	8h	140.91	−0.043%	$17K	$8K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.14	+0.123%	$4.5M	$2.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.86	−0.080%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	140.90	−0.046%	$824K	$399K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid AAVE	+0.0100%	1h	141.06	+0.064%	$77.0M	$37.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.99	+0.012%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.83	−0.098%	$327K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.01	+0.029%	$63.1M	$191.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	140.98	+0.007%	$60.6M	$69.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.00	+0.021%	$16.6M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.02	+0.035%	$91K	$221K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.09	+0.084%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.90	−0.050%	$8.0M	$16.6M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.99	+0.014%	$23.0M	$24.3M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.98	+0.007%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.96	−0.007%	$28.6M	$18.0M	75x	as long as short
BingX AAVE-USDTlong	+0.0100%	8h	140.97	long leg	—	$43.6M	—
Variational Omni AAVE	+0.0100%	8h	140.89	−0.057%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	140.92	−0.038%	$108K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	140.94	−0.019%	$443K	$3.6M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.98	+0.007%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.98	+0.007%	$133K	$483K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.81	−0.115%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	140.97	0.000%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.10	+0.091%	$666K	$5.3M	75x	as long as short
Phemex AAVEUSDTshort	+0.0100%	8h	140.99	+0.014%	$3.9M	$3.6M	50x
Extended AAVE-USD	+0.0104%	1h	140.90	−0.048%	$910K	$1.8M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	140.96	−0.007%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.98	+0.004%	$119K	$146	10x	as long as short
Phoenix AAVE	+0.0152%	1h	141.08	+0.078%	$5K	$98K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	140.82	−0.106%	$3.2M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0245%	1h	140.96	−0.011%	$189K	$292K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0246%	1h	141.12	+0.106%	$384K	$732K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.01	+0.026%	$110K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0256%	1h	140.81	−0.113%	$750K	$2.7M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0272%	1h	141.03	+0.046%	$3.4M	$2.1M	50x	as long as short