Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0140%/8h= −15.3% APRpaid last 24h −0.054%

Price spread now: edgeX against Coinbase International−0.064%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$430.434% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now −0.064%, 7d avg −0.090%

Together, before fees−0.185%+ Points / potential airdropedgeX: Active · farm board−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.025% dearer against Coinbase International than usual: you sell high and buy low (spread −0.064% now, against its 7-day average of −0.090%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AAVE-PERP-INTX	141.87	0.0240	pay 0.0030% / 1h	54m 32s	$752K	$2.2M	50x
Short	edgeX AAVEUSDC	141.78	0.0100	get 0.0050% / 4h	1h 54m	$109K	$282K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Coinbase International. 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 Coinbase InternationalbpFee edgeXbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$29.4
Price spread: −0.064% → −0.090%: $2.55
Slippage, 4 orders: −$24.4
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$70.25
Costs to cover: 0.434%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; edgeX: live order book, 56 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 Coinbase International live order book, 2 min ago	5.29 bp	12.9 bp −$13	17.9 bp −$179	doesn't fit	doesn't fit
Sell edgeX live order book, 56 min ago	3.90 bp	8.4 bp −$8	11.9 bp −$119	doesn't fit	doesn't fit

AAVE on 42 exchanges

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	−0.0808%	1h	141.61	−0.183%	$208K	$323K	50x	as long as short
SoDEX AAVE-USD	−0.0126%	1h	141.68	−0.134%	$7K	$242K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.61	−0.184%	$102K	$6K	10x	as long as short
01 Exchange AAVEUSD	0.0000%	1h	141.62	−0.176%	$10K	$1K	5x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.66	−0.148%	$45K	$1.3M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.89	+0.011%	$79K	—	150x	as long as short
Phemex AAVEUSDT	+0.0015%	8h	141.64	−0.162%	$3.9M	$3.6M	50x	as long as short
Bybit AAVEUSDT	+0.0020%	8h	141.55	−0.226%	$61.2M	$59.8M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.461%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0041%	1h	141.82	−0.035%	$132K	$221K	50x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	141.56	−0.222%	—	—	20x	as long as short
Phoenix AAVE	+0.0062%	1h	141.94	+0.049%	$4K	$81K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0086%	8h	141.67	−0.141%	$17K	$2K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.78	−0.064%	$4.6M	$2.2M	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	141.67	−0.142%	$3.7M	$692K	—	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.56	−0.220%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.59	−0.201%	$814K	$309K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.77	−0.070%	$77.9M	$27.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.68	−0.134%	$1.2M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.63	−0.172%	$345K	$312K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.62	−0.176%	$63.7M	$162.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.58	−0.204%	$16.3M	$52.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.73	−0.099%	$94K	$205K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.62	−0.176%	$8.2M	$13.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.58	−0.204%	$21.9M	$21.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.62	−0.176%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.58	−0.204%	$29.2M	$15.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.60	−0.190%	—	$43.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.80	−0.049%	$388K	$601K	10x	as long as short
edgeX AAVEUSDCshort	+0.0100%	4h	141.78	−0.064%	$109K	$282K	20x
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.84	−0.020%	$453K	$3.1M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.64	−0.162%	$134K	$370K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.68	−0.132%	$1K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.12	+0.176%	$659K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.78	−0.063%	$164K	$106K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.54	−0.234%	$913K	$1.5M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.69	−0.128%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0112%	1h	141.66	−0.150%	$172K	$206K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.69	−0.127%	$3.3M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0240%	1h	141.87	long leg	$752K	$2.2M	50x
GMX AAVE/USD [AAVE-USDC]	L +0.0253% / S −0.0360%	1h	141.71	−0.113%	$110K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0306%	1h	141.78	−0.064%	$3.5M	$1.9M	50x	as long as short