Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0143%/8h= −15.7% APRpaid last 24h −0.036%

Price spread now: SoDEX against Bybit−0.226%56s7-day average +0.008% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.279% of the position

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.046%−$5 on $10k

Price spread, last 3 days (all we have)+0.347%+$35 · spread now −0.226%, 7d avg +0.008%

Together, before fees+0.301%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and SoDEX is 0.234% cheaper against Bybit than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of +0.008%). Swap the legs. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAVEUSDT	145.82	0.0100	pay 0.0100% / 8h	7h 04m	$62.4M	$64.8M	75x
Short	SoDEX AAVE-USD	145.49	−0.0043	pay 0.0005% / 1h	4m 22s	$5K	$302K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Bybit. 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 BybitbpFee SoDEXbpOrdersPrice spread, now −0.226%Rate

Funding earned: −$30.05
Price spread: −0.226% → +0.008%: −$23.41
Slippage, 4 orders: −$8.91
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$81.36
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; SoDEX: 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 Bybit live order book, 5 min ago	0.34 bp	8.2 bp −$8	15.9 bp −$159	65.1 bp −$6,507	doesn't fit
Sell SoDEX live order book, 4 min ago	0.34 bp	5.0 bp −$5	9.8 bp −$98	92.4 bp −$9,241	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
Kraken Futures PF_AAVEUSD	−0.0185%	1h	145.60	−0.154%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.73	−0.062%	$11K	$2K	5x	as long as short
SoDEX AAVE-USDshort	−0.0043%	1h	145.49	−0.226%	$5K	$302K	10x
dYdX AAVE-USD	0.0000%	1h	145.86	+0.024%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.38	−0.302%	$65K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.22	+0.274%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	145.52	−0.206%	$254K	$367K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.88	+0.041%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0027%	8h	145.79	−0.021%	$28.5M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0029%	8h	145.81	−0.007%	$66.0M	$183.2M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.076%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	145.77	−0.034%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.79	−0.024%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0064%	8h	145.78	−0.027%	$17.7M	$66.1M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0065%	1h	146.47	+0.446%	$136K	$231K	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.53	−0.199%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.05	+0.158%	$4.7M	$1.5M	10x	as long as short
Phemex AAVEUSDT	+0.0099%	8h	145.54	−0.192%	$4.2M	$3.8M	50x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.92	+0.069%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.80	−0.015%	$798K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.93	+0.075%	$79.5M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.77	−0.031%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.88	+0.041%	$333K	$469K	10x	as long as short
Bybit AAVEUSDTlong	+0.0100%	8h	145.82	long leg	$62.4M	$64.8M	75x
Arcus AAVE-USD	+0.0100%	1h	145.83	+0.007%	$46K	$246K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	145.84	+0.014%	$7.9M	$15.4M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.85	+0.021%	$11.0M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.76	−0.041%	$30.2M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.78	−0.027%	—	$44.2M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.65	−0.117%	$332K	$742K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.38	−0.303%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.11	+0.199%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.52	+0.480%	$466K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.85	+0.021%	$126K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.47	−0.243%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.60	−0.151%	$707K	$5.2M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.28	+0.315%	$59K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.69	−0.092%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.82	−0.002%	$185K	$245K	10x	as long as short
BloFin AAVE-USDT	+0.0109%	8h	145.51	−0.213%	$3.5M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	145.86	+0.025%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.42	+0.411%	$784K	$2.9M	50x	as long as short