Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0011%/8h= −1.3% APRpaid last 24h −0.013%

Price spread now: Phoenix against BingX−0.076%7-day average — · you buy dearer than you sell

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

Long on BingX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.028%−$3 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Phoenix is 0.076% cheaper against BingX than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AAVE-USDC	144.03	0.0100	pay 0.0100% / 8h	5h 33m	—	$6.5M	—
Short	Phoenix AAVE	143.92	0.0089	get 0.0011% / 1h	33m 02s	$5K	$98K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$2.4
Price spread: −0.076% → 0.000%: −$7.64
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$27.04
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 2 min ago; Phoenix: 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, 2 min ago	0.69 bp	14.4 bp −$14	35.8 bp −$358	230.6 bp −$23.1K	637.6 bp −$318.8K
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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
01 Exchange AAVEUSD	−0.0064%	1h	143.94	−0.062%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.86	−0.116%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.90	−0.090%	$60K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.99	−0.028%	$228K	$389K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.99	−0.027%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.909%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	143.98	−0.035%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.95	−0.055%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0055%	1h	143.97	−0.042%	$834K	$432K	10x	as long as short
Phoenix AAVEshort	+0.0089%	1h	143.92	−0.076%	$5K	$98K	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	144.20	+0.120%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.95	−0.052%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.15	+0.083%	$78.0M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.07	+0.028%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.97	−0.042%	$328K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	144.01	−0.011%	$64.5M	$182.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.03	0.000%	$61.6M	$64.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	144.01	−0.014%	$17.2M	$63.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.98	−0.035%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.90	−0.090%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.04	+0.007%	$7.9M	$15.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	144.02	−0.007%	$26.0M	$23.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.06	+0.021%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.99	−0.028%	$30.2M	$17.3M	75x	as long as short
BingX AAVE-USDClong	+0.0100%	8h	144.03	long leg	—	$6.5M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.12	+0.062%	$321K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.76	−0.190%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.84	−0.131%	$104K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.91	−0.081%	$453K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.97	−0.042%	$134K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.00	−0.021%	$126K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.97	−0.042%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.01	−0.014%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.05	+0.013%	$695K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.99	−0.028%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.95	−0.053%	$913K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.00	−0.019%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	144.01	−0.017%	$188K	$235K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	144.00	−0.021%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	144.00	−0.023%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0267%	1h	144.08	+0.038%	$3.5M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	144.04	+0.007%	$779K	$2.8M	50x	as long as short