Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0251%/8h= −27.5% APRpaid last 24h −0.042%

Price spread now: SoDEX against Bitget0.000%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on Bitget Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.065%−$7 on $10k

Price spread, last 3 days (all we have)+0.292%+$29 · spread now 0.000%, 7d avg +0.003%

Together, before fees+0.227%+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.065% in total (about -7.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AAVEUSDT	143.19	0.0100	pay 0.0100% / 8h	2h 03m	$29.8M	$18.2M	75x
Short	SoDEX AAVE-USD	143.19	−0.0151	pay 0.0019% / 1h	3m 12s	$5K	$299K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Bitget. 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 BitgetbpFee SoDEXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$52.8
Price spread: 0.000% → +0.003%: −$0.27
Slippage, 4 orders: −$11.19
Fee Bitget: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$84.25
Costs to cover: 0.312%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; SoDEX: live order book, 20 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 Bitget live order book, 1 min ago	0.35 bp	10.4 bp −$10	16.5 bp −$165	64.7 bp −$6,466	doesn't fit
Sell SoDEX live order book, 20 min ago	0.35 bp	5.1 bp −$5	10.0 bp −$100	96.4 bp −$9,638	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
Deribit AAVE_USDC-PERPETUAL	−0.0448%	1h	143.23	+0.028%	$252K	$489K	50x	as long as short
SoDEX AAVE-USDshort	−0.0151%	1h	143.19	0.000%	$5K	$299K	10x
01 Exchange AAVEUSD	−0.0104%	1h	143.10	−0.063%	$10K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	143.24	+0.035%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.32	+0.092%	$102K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.24	+0.035%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.27	+0.059%	$69K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	143.31	+0.083%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.351%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.17	−0.015%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0045%	8h	143.18	−0.007%	$30.6M	$26.5M	200x	as long as short
Binance AAVEUSDT	+0.0046%	8h	143.19	0.000%	$65.1M	$185.3M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	143.20	+0.007%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0052%	8h	143.22	+0.021%	$17.3M	$65.8M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0058%	1h	143.62	+0.300%	$134K	$229K	50x	as long as short
Gate AAVE_USDT	+0.0060%	8h	143.18	−0.007%	$7.7M	$16.0M	75x	as long as short
Bulk AAVE-USD	+0.0073%	1h	143.97	+0.548%	$60K	$3K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	143.60	+0.287%	$449K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	143.40	+0.145%	$4.6M	$1.7M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	143.22	+0.023%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	143.22	+0.018%	$178K	$247K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.18	−0.005%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.09	−0.066%	$792K	$438K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.26	+0.049%	$78.6M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.29	+0.071%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.14	−0.038%	$326K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.20	+0.007%	$60.8M	$65.7M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.19	0.000%	$50K	$274K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.21	+0.014%	$9.9M	$8.7M	75x	as long as short
Bitget AAVEUSDTlong	+0.0100%	8h	143.19	long leg	$29.8M	$18.2M	75x
BingX AAVE-USDT	+0.0100%	8h	143.19	0.000%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.33	+0.098%	$379K	$710K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.38	+0.132%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.50	+0.213%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.24	+0.035%	$125K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.18	−0.010%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.22	+0.022%	$712K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.28	+0.063%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.17	−0.015%	$919K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0166%	8h	143.17	−0.014%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	143.44	+0.175%	$769K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.28	+0.064%	$123K	—	100x	as long as short