Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0282%/8h= +30.9% APRpaid last 24h −0.008%

Price spread now: GMX against BloFin+0.015%7-day average +0.035% · you sell dearer than you buy

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.243%−$24 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now +0.015%, 7d avg +0.035%

Together, before fees−0.242%−$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.020% cheaper against BloFin than usual: you would sell low and buy high (spread +0.015% now, against its 7-day average of +0.035%). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$8 a day). Mind the row above: over the last 3 days funding on this pair cost −0.243%, 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	BloFin AAVE-USDT	145.52	0.0155	pay 0.0155% / 8h	1h 04m	$3.5M	$4.0M	100x
Short	GMX AAVE/USD [AAVE-USDC]	145.54	L +0.0267% / S −0.0438%	get 0.0055% / 1h	4m 59s	$125K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now +0.015%Rate

Funding earned: $59.31
Price spread: +0.015% → +0.035%: −$2.03
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $33.29
Costs to cover: 0.240%
Break-even: 3.1 days

Slippage unknown: BloFin: live order book, 8 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 BloFin live order book, 8 min ago	1.03 bp	7.5 bp −$7	11.7 bp −$117	24.4 bp −$2,445	doesn't fit
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
01 Exchange AAVEUSD	−0.0128%	1h	145.57	+0.034%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0045%	1h	145.40	−0.082%	$5K	$100K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0025%	1h	145.53	+0.007%	$254K	$436K	50x	as long as short
SoDEX AAVE-USD	−0.0021%	1h	145.50	−0.014%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.46	−0.042%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.51	−0.007%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.55	+0.023%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.882%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0038%	8h	145.55	+0.021%	$30.7M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0039%	8h	145.56	+0.027%	$66.4M	$185.0M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	145.48	−0.027%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.59	+0.046%	$181K	$245K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.50	−0.014%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.63	+0.072%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0059%	8h	145.56	+0.027%	$17.7M	$67.1M	50x	as long as short
Gate AAVE_USDT	+0.0068%	8h	145.57	+0.034%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.69	+0.116%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.72	+0.135%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.52	0.000%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.53	+0.003%	$805K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.64	+0.082%	$80.0M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.54	+0.016%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.50	−0.011%	$332K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.57	+0.034%	$62.1M	$65.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.56	+0.027%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.13	−0.270%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.52	0.000%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.51	−0.007%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.56	+0.027%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.63	+0.076%	$350K	$724K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.35	−0.120%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.19	−0.227%	$104K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.27	−0.170%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.24	−0.192%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.59	+0.048%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.49	−0.019%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.61	+0.059%	$697K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.53	+0.007%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.49	−0.019%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDTlong	+0.0155%	8h	145.52	long leg	$3.5M	$4.0M	100x
GMX AAVE/USD [AAVE-USDC]short	L +0.0267% / S −0.0438%	1h	145.54	+0.015%	$125K	—	100x
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.65	+0.089%	$791K	$3.0M	50x	as long as short