AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0152%/8h= +16.7% APRnext payment +$0.19 per $10,000 · paid last 24h +0.275%

Price spread now: Phoenix against Deribit+0.007%70s7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs$0as in the Funding arb table

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

costs, in and out, $10k−$440.443% of the position

Long on Deribit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.448%+$45 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.007%, 7d avg +0.074%

Together, before fees+0.384%+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.067% cheaper against Deribit than usual: you would sell low and buy high (spread +0.007% now, against its 7-day average of +0.074%). If the spread goes back, that is −$7 on $10k: about 35 hours of funding at the current rate (+$5 a day). The two prices were read 70 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	Deribit AAVE_USDC-PERPETUAL	141.00	0	get 0.0000% / 1h	21m 52s	$213K	$392K	50x
Short	Phoenix AAVE	141.01	0.0152	get 0.0019% / 1h	21m 52s	$5K	$98K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Deribit. 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 DeribitbpFee PhoenixbpOrdersPrice spread, now +0.007%Rate

Funding earned: $31.95
Price spread: +0.007% → +0.074%: −$6.73
Slippage, 4 orders: −$30.26
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$19.04
Costs to cover: 0.443%
Break-even: 11.2 days

Slippage from Deribit: live order book, 12 min ago; Phoenix: live order book, 73 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 Deribit live order book, 12 min ago	4.60 bp	8.1 bp −$8	13.9 bp −$139	doesn't fit	doesn't fit
Sell Phoenix live order book, 73 min ago	0.70 bp	14.0 bp −$14	46.7 bp −$467	doesn't fit	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
dYdX AAVE-USD	0.0000%	1h	141.09	+0.067%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.06	+0.043%	$45K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALlong	0.0000%	1h	141.00	long leg	$213K	$392K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.01	+0.009%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.865%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.94	−0.041%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0082%	8h	140.96	−0.028%	$17K	$8K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.16	+0.116%	$4.5M	$2.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.01	+0.004%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	140.97	−0.025%	$823K	$397K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid AAVE	+0.0100%	1h	141.14	+0.099%	$77.1M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.06	+0.046%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.10	+0.072%	$328K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.01	+0.007%	$63.1M	$191.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	140.99	−0.007%	$60.6M	$69.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	140.99	−0.007%	$16.6M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.13	+0.092%	$91K	$221K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.09	+0.063%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.04	+0.028%	$8.1M	$16.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.00	0.000%	$22.9M	$24.3M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.03	+0.021%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.95	−0.035%	$28.6M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	140.99	−0.007%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	140.88	−0.086%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	140.91	−0.062%	$108K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	140.94	−0.040%	$443K	$3.6M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.98	−0.014%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.04	+0.028%	$133K	$483K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.99	−0.009%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	140.98	−0.014%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.15	+0.109%	$666K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	140.99	−0.007%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.96	−0.030%	$910K	$1.8M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	141.05	+0.035%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.01	+0.005%	$119K	$146	10x	as long as short
Phoenix AAVEshort	+0.0152%	1h	141.01	+0.007%	$5K	$98K	10x
BloFin AAVE-USDT	+0.0220%	8h	140.96	−0.028%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0245%	1h	141.05	+0.032%	$188K	$292K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0250%	1h	141.11	+0.078%	$384K	$732K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.00	+0.001%	$110K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0256%	1h	141.15	+0.106%	$751K	$2.7M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0272%	1h	141.04	+0.030%	$3.4M	$2.1M	50x	as long as short