Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.016%

Price spread now: OKX against Kraken Futures−0.095%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 3 days (all we have)−0.213%−$21 · spread now −0.095%, 7d avg −0.052%

Together, before fees−0.166%−$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.043% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.095% now, against its 7-day average of −0.052%). If the spread goes back, that is −$4 on $10k: about 2.1 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.046% in total) that is about 6.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AAVEUSD	145.88	0.0002	pay 0.0000% / 1h	39m 58s	$3.5M	$2.1M	50x
Short	OKX AAVE-USDT-SWAP	145.74	0.0070	get 0.0070% / 8h	39m 58s	$17.8M	$67.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.095%Rate

Funding earned: $14.23
Price spread: −0.095% → −0.052%: −$4.31
Slippage, 4 orders: −$22.64
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$32.73
Costs to cover: 0.426%
Break-even: 23.1 days

Slippage from Kraken Futures: live order book, 4 min ago; OKX: live order book, 4 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, 4 min ago	4.11 bp	12.6 bp −$13	18.8 bp −$188	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.34 bp	9.1 bp −$9	12.6 bp −$126	70.9 bp −$7,089	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
Deribit AAVE_USDC-PERPETUAL	−0.0093%	1h	145.80	−0.054%	$255K	$406K	50x	as long as short
SoDEX AAVE-USD	−0.0051%	1h	145.77	−0.075%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	146.19	+0.213%	$5K	$99K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.90	+0.014%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.71	−0.116%	$84K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0002%	1h	145.88	long leg	$3.5M	$2.1M	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.84	−0.027%	$71K	—	150x	as long as short
01 Exchange AAVEUSD	+0.0008%	1h	145.83	−0.034%	$11K	$2K	5x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.114%	$422	$51K	12x	as long as short
Binance AAVEUSDT	+0.0042%	8h	145.74	−0.093%	$66.4M	$185.8M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0043%	8h	145.77	−0.075%	$30.6M	$25.8M	200x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.74	−0.094%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.76	−0.082%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAPshort	+0.0070%	8h	145.74	−0.095%	$17.8M	$67.4M	50x
Gate AAVE_USDT	+0.0076%	8h	145.76	−0.082%	$7.9M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.82	−0.040%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.00	+0.080%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.74	−0.095%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.78	−0.068%	$802K	$441K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.85	−0.020%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.79	−0.061%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.77	−0.075%	$62.2M	$66.1M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.81	−0.047%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.88	+0.001%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.77	−0.075%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.71	−0.116%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.77	−0.075%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.87	−0.006%	$358K	$737K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.91	+0.019%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.06	+0.127%	$105K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.02	+0.097%	$461K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.08	+0.138%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.84	−0.027%	$127K	$457K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.77	−0.073%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.91	+0.021%	$698K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.80	−0.054%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.72	−0.109%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	145.84	−0.025%	$186K	$246K	10x	as long as short
Hyperliquid AAVE	+0.0111%	1h	145.92	+0.028%	$80.5M	$34.6M	10x	as long as short
BloFin AAVE-USDT	+0.0164%	8h	145.86	−0.013%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.84	−0.026%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.23	+0.241%	$789K	$3.0M	50x	as long as short