Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0153%/8h= −16.7% APRpaid last 24h −0.052%

Price spread now: Binance against GMX−0.033%7-day average −0.028% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.093%+$9 on $10k

Price spread, last 4 days (all we have)−0.313%−$31 · spread now −0.033%, 7d avg −0.028%

Together, before fees−0.220%−$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.093%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AAVE/USD [AAVE-USDC]	141.90	L +0.0253% / S −0.0360%	pay 0.0032% / 1h	57m 12s	$110K	—	100x
Short	Binance AAVEUSDT	141.85	0.0100	get 0.0100% / 8h	5h 57m	$63.9M	$162.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now −0.033%Rate

Funding earned: −$32.03
Price spread: −0.033% → −0.028%: −$0.44
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$54.47
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 9 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 9 min ago	0.35 bp	8.2 bp −$8	15.1 bp −$151	51.9 bp −$5,188	166.5 bp −$83.3K

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
SoDEX AAVE-USD	−0.0122%	1h	141.85	−0.033%	$7K	$242K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.89	−0.006%	$102K	$6K	10x	as long as short
01 Exchange AAVEUSD	0.0000%	1h	141.84	−0.040%	$10K	$1K	5x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.86	−0.025%	$41K	$1.3M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.88	−0.011%	$208K	$329K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.89	−0.007%	$79K	—	150x	as long as short
Phemex AAVEUSDT	+0.0014%	8h	141.80	−0.068%	$3.9M	$3.6M	50x	as long as short
Bybit AAVEUSDT	+0.0020%	8h	141.81	−0.061%	$61.4M	$60.0M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.479%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0041%	1h	141.82	−0.054%	$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	141.77	−0.085%	—	—	20x	as long as short
Phoenix AAVE	+0.0062%	1h	141.94	+0.031%	$4K	$81K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0086%	8h	141.82	−0.054%	$17K	$2K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.05	+0.108%	$4.6M	$2.2M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.80	−0.068%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.79	−0.075%	$815K	$310K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.99	+0.066%	$78.0M	$28.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.90	+0.003%	$1.2M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.85	−0.033%	$346K	$312K	10x	as long as short
Binance AAVEUSDTshort	+0.0100%	8h	141.85	−0.033%	$63.9M	$162.6M	75x
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.86	−0.025%	$16.4M	$52.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.93	+0.024%	$95K	$205K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.88	−0.011%	$8.2M	$13.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.85	−0.033%	$22.0M	$21.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.87	−0.018%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.82	−0.054%	$29.3M	$15.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.84	−0.040%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.00	+0.073%	$386K	$600K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	141.71	−0.130%	$3.7M	$692K	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.75	−0.102%	$109K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.85	−0.033%	$453K	$3.2M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.87	−0.018%	$134K	$370K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.78	−0.078%	$2K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.09	+0.140%	$659K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.76	−0.092%	$164K	$106K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.79	−0.076%	$913K	$1.5M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.84	−0.043%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0112%	1h	141.90	+0.001%	$172K	$207K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.85	−0.033%	$3.3M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	142.03	+0.094%	$754K	$2.2M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]long	L +0.0253% / S −0.0360%	1h	141.90	long leg	$110K	—	100x
Kraken Futures PF_AAVEUSD	+0.0306%	1h	141.97	+0.049%	$3.5M	$1.9M	50x	as long as short