Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.019%

Price spread now: BingX against dYdX−0.014%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$351as in the Funding arb table

Net, price: spread back to 7d avg − costs−$367as in the Price arb table

costs, in and out, $10k−$3683.679% of the position

Long on dYdX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.171%+$17 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.014%, 7d avg −0.025%

Together, before fees+0.151%+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.025%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX AAVE-USD	145.62	0	get 0.0000% / 1h	24m 10s	$104K	$5K	10x
Short	BingX AAVE-USDC	145.60	0.0100	get 0.0100% / 8h	24m 10s	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against dYdX. 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 dYdXbpFee BingXbpOrdersPrice spread, now −0.014%Rate

Funding earned: $21
Price spread: −0.014% → −0.025%: $1.08
Slippage, 4 orders: −$347.85
Fee dYdX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$345.77
Costs to cover: 3.679%
Break-even: 122.3 days

Slippage from dYdX: live order book, 55 min ago; BingX: live order book, 12 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 dYdX live order book, 55 min ago	158.47 bp	165.3 bp −$165	165.5 bp −$1,655	165.5 bp −$16.6K	265.7 bp −$132.9K
Sell BingX live order book, 12 min ago	0.68 bp	14.8 bp −$15	39.0 bp −$390	255.0 bp −$25.5K	650.1 bp −$325.1K

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	−0.0093%	1h	145.57	−0.034%	$254K	$394K	50x	as long as short
SoDEX AAVE-USD	−0.0065%	1h	145.56	−0.041%	$5K	$305K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	145.94	+0.220%	$5K	$99K	10x	as long as short
01 Exchange AAVEUSD	−0.0008%	1h	145.60	−0.014%	$11K	$2K	5x	as long as short
dYdX AAVE-USDlong	0.0000%	1h	145.62	long leg	$104K	$5K	10x
Kalshi KXAAVEPERP	0.0000%	8h	145.70	+0.055%	$83K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	145.66	+0.029%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.66	+0.030%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.947%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0041%	8h	145.57	−0.034%	$29.9M	$25.9M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0041%	8h	145.58	−0.028%	$66.3M	$186.2M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.56	−0.042%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0053%	8h	145.58	−0.028%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0073%	8h	145.58	−0.028%	$7.9M	$15.9M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0074%	8h	145.58	−0.028%	$17.9M	$67.5M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.61	−0.010%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.80	+0.124%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.58	−0.025%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.54	−0.052%	$801K	$442K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.74	+0.082%	$80.4M	$34.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.68	+0.044%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.64	+0.011%	$332K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.59	−0.021%	$62.1M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.58	−0.028%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.07	+0.309%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.59	−0.021%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.53	−0.062%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDCshort	+0.0100%	8h	145.60	−0.014%	—	$6.5M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.67	+0.034%	$347K	$745K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.07	+0.308%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.08	+0.314%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.03	+0.283%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.07	+0.309%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.64	+0.014%	$127K	$456K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.57	−0.032%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.73	+0.077%	$689K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.62	0.000%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.52	−0.069%	$935K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	145.62	+0.001%	$185K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0161%	8h	145.77	+0.103%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.66	+0.029%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.01	+0.268%	$786K	$3.0M	50x	as long as short