AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0224%/8h= −24.5% APRnext payment −$0.28 per $10,000 · paid last 24h +0.050%

Price spread now: Backpack against Kraken Futures+0.023%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$470.472% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.167%+$17 on $10k

Price spread, last 4 days (all we have)−0.322%−$32 · spread now +0.023%, 7d avg −0.013%

Together, before fees−0.154%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.036% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.023% now, against its 7-day average of −0.013%): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 13 hours. Mind the row above: over the last 7 days funding on this pair paid +0.167%, 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	Kraken Futures PF_AAVEUSD	142.95	0.0324	pay 0.0040% / 1h	24m 04s	$3.4M	$2.1M	50x
Short	Backpack AAVE_USDC_PERP	142.98	0.0100	get 0.0013% / 1h	24m 04s	$337K	$719K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kraken Futures. 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 Kraken FuturesbpFee BackpackbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$46.98
Price spread: +0.023% → −0.013%: $3.61
Slippage, 4 orders: −$27.17
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$90.55
Costs to cover: 0.472%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Backpack: live order book, 35 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 Kraken Futures live order book, 5 min ago	5.26 bp	16.2 bp −$16	28.4 bp −$284	doesn't fit	doesn't fit
Sell Backpack live order book, 35 min ago	1.40 bp	9.3 bp −$9	552.8 bp −$5,528	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	142.83	−0.082%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.89	−0.039%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.86	−0.061%	$46K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.86	−0.061%	$219K	$401K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.87	−0.051%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0010%	1h	142.78	−0.117%	$841K	$446K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.189%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.80	−0.106%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0048%	8h	142.87	−0.054%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	143.03	+0.058%	$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
Lighter AAVE	+0.0096%	1h	142.97	+0.019%	$4.5M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.96	+0.006%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.97	+0.016%	$77.0M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.87	−0.052%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.90	−0.036%	$327K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.88	−0.048%	$63.9M	$186.6M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.85	−0.068%	$61.1M	$67.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.84	−0.075%	$17.1M	$64.1M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.96	+0.009%	$64K	$205K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.88	−0.047%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.89	−0.040%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.87	−0.054%	$25.2M	$23.8M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.90	−0.033%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.80	−0.103%	$29.0M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.88	−0.047%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	142.98	+0.023%	$337K	$719K	10x
Variational Omni AAVE	+0.0100%	8h	142.60	−0.244%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.62	−0.232%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.67	−0.195%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.71	−0.166%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.88	−0.047%	$125K	$386K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.84	−0.072%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.87	−0.054%	$5K	$292K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.98	+0.021%	$688K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.81	−0.096%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.79	−0.108%	$896K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.88	−0.051%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.91	−0.026%	$178K	$242K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.80	−0.103%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.87	−0.054%	$112K	—	100x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0324%	1h	142.95	long leg	$3.4M	$2.1M	50x
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.95	+0.002%	$793K	$2.8M	50x	as long as short