AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0206%/8h= −22.5% APRnext payment −$0.26 per $10,000 · paid last 24h +0.001%

Price spread now: Pacifica against Kraken Futures−0.115%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$450.447% of the position

Long on Kraken Futures Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now −0.115%, 7d avg −0.015%

Together, before fees+0.051%+ Points / potential airdropPacifica: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Pacifica is 0.101% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.015%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.117%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.117% in total (about 6.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.26 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AAVEUSD	141.90	0.0306	pay 0.0038% / 1h	55m 36s	$3.5M	$1.9M	50x
Short	Pacifica AAVE	141.74	0.0100	get 0.0013% / 1h	55m 36s	$345K	$312K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.115%Rate

Funding earned: −$43.23
Price spread: −0.115% → −0.015%: −$10.06
Slippage, 4 orders: −$26.71
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$97.99
Costs to cover: 0.447%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; Pacifica: live order book, 56 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, 1 min ago	2.82 bp	14.8 bp −$15	24.4 bp −$244	doesn't fit	doesn't fit
Sell Pacifica live order book, 56 min ago	1.07 bp	5.2 bp −$5	doesn't fit	doesn't fit	doesn't fit

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
Deribit AAVE_USDC-PERPETUAL	−0.5178%	1h	141.09	−0.574%	$207K	$323K	50x	as long as short
SoDEX AAVE-USD	−0.0106%	1h	141.71	−0.137%	$7K	$242K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.89	−0.012%	$102K	$6K	10x	as long as short
01 Exchange AAVEUSD	0.0000%	1h	141.71	−0.137%	$10K	$1K	5x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.77	−0.094%	$45K	$1.3M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.89	−0.013%	$79K	—	150x	as long as short
Phemex AAVEUSDT	+0.0012%	8h	141.83	−0.052%	$3.9M	$3.6M	50x	as long as short
Bybit AAVEUSDT	+0.0020%	8h	141.67	−0.165%	$61.3M	$59.9M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.484%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0041%	1h	141.82	−0.059%	$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	141.75	−0.112%	—	—	20x	as long as short
Phoenix AAVE	+0.0062%	1h	141.94	+0.025%	$4K	$81K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0086%	8h	141.75	−0.108%	$17K	$2K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.85	−0.039%	$4.6M	$2.2M	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	141.67	−0.166%	$3.7M	$692K	—	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.66	−0.175%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.72	−0.133%	$815K	$310K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.82	−0.059%	$77.9M	$28.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.78	−0.090%	$1.2M	$1.1M	50x	as long as short
Pacifica AAVEshort	+0.0100%	1h	141.74	−0.115%	$345K	$312K	10x
Binance AAVEUSDT	+0.0100%	8h	141.68	−0.158%	$63.8M	$162.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.70	−0.144%	$16.4M	$52.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.82	−0.059%	$94K	$205K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.70	−0.144%	$8.2M	$13.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.66	−0.172%	$22.0M	$21.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.71	−0.137%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.75	−0.108%	$29.2M	$15.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.69	−0.151%	—	$42.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.89	−0.010%	$388K	$601K	10x	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.78	−0.088%	$109K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.85	−0.038%	$453K	$3.2M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.80	−0.073%	$134K	$370K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.76	−0.099%	$2K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.16	+0.182%	$660K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.78	−0.087%	$164K	$106K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.63	−0.191%	$913K	$1.5M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.80	−0.073%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0112%	1h	141.79	−0.078%	$172K	$206K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.85	−0.038%	$3.3M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	141.86	−0.031%	$752K	$2.2M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0253% / S −0.0360%	1h	141.85	−0.041%	$110K	—	100x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0306%	1h	141.90	long leg	$3.5M	$1.9M	50x