Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.002%

Price spread now: Phemex against Extended−0.145%55s7-day average +0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as 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−$350.349% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.405%+$40 · spread now −0.145%, 7d avg +0.073%

Together, before fees+0.397%+ Points / potential airdropExtended: Active · farm board+$40 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.218% cheaper against Extended than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of +0.073%. The two prices were read 55 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	Extended AAVE-USD	142.76	0.0104	pay 0.0013% / 1h	17m 26s	$896K	$1.7M	50x
Short	Phemex AAVEUSDT	142.55	0.0100	get 0.0100% / 8h	4h 17m	$4.0M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now −0.145%Rate

Funding earned: −$0.84
Price spread: −0.145% → +0.073%: −$21.81
Slippage, 4 orders: −$17.95
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$57.6
Costs to cover: 0.349%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; Phemex: live order book, 1 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 Extended live order book, 1 min ago	1.40 bp	6.9 bp −$7	21.0 bp −$210	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	0.70 bp	11.0 bp −$11	15.6 bp −$156	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
01 Exchange AAVEUSD	−0.0144%	1h	142.75	−0.005%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.77	+0.007%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.62	−0.096%	$46K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.83	+0.051%	$219K	$401K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.84	+0.059%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0012%	1h	142.76	+0.005%	$841K	$448K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.061%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.75	−0.007%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	142.80	+0.030%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	142.95	+0.135%	$4K	$102K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX AAVE-USD	+0.0095%	1h	142.80	+0.030%	$5K	$293K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.81	+0.041%	$4.5M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.80	+0.027%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.87	+0.079%	$76.9M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.79	+0.020%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.76	+0.001%	$327K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.81	+0.037%	$63.8M	$186.3M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.80	+0.030%	$61.1M	$67.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.80	+0.030%	$17.1M	$64.1M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.86	+0.072%	$64K	$203K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.88	+0.086%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.81	+0.037%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.78	+0.016%	$25.2M	$23.8M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.77	+0.009%	$10.5M	$9.3M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.72	−0.026%	$29.0M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.80	+0.030%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.75	−0.005%	$336K	$718K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.71	−0.034%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.72	−0.028%	$103K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.78	+0.016%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.79	+0.023%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.81	+0.037%	$125K	$386K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.75	−0.004%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	+0.047%	$687K	$5.2M	75x	as long as short
Phemex AAVEUSDTshort	+0.0100%	8h	142.55	−0.145%	$4.0M	$3.7M	50x
Extended AAVE-USDlong	+0.0104%	1h	142.76	long leg	$896K	$1.7M	50x
Aevo AAVE-PERP	+0.0104%	1h	142.83	+0.051%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.84	+0.056%	$178K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.75	−0.005%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.85	+0.065%	$112K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0324%	1h	142.89	+0.090%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.82	+0.044%	$792K	$2.8M	50x	as long as short