Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.013%

Price spread now: Injective against KuCoin−4.968%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 4.968% cheaper against KuCoin than usual: you would sell low and buy high (−$497 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AAVEUSDTM	144.12	0.0100	pay 0.0100% / 8h	2h 08m	$10.4M	$9.4M	75x
Short	Injective AAVE/USDC PERP	136.96	0.0033	get 0.0004% / 1h	8m 41s	$422	$51K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now −4.968%Rate

Funding earned: −$14
Price spread: −4.968% → 0.000%: −$496.81
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$522.83
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 min ago; Injective: no order-book sample. 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 KuCoin live order book, 5 min ago	1.04 bp	15.7 bp −$16	30.8 bp −$308	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 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
dYdX AAVE-USD	0.0000%	1h	144.07	−0.037%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.97	−0.104%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.00	−0.083%	$219K	$395K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.05	−0.047%	$81K	—	150x	as long as short
Nado AAVE-PERP	+0.0025%	1h	144.10	−0.014%	$841K	$399K	10x	as long as short
Injective AAVE/USDC PERPshort	+0.0033%	1h	136.96	−4.968%	$422	$51K	12x
Reya AAVERUSDPERP	+0.0044%	1h	144.04	−0.054%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0072%	8h	144.03	−0.062%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0093%	8h	143.84	−0.194%	$4.0M	$3.6M	50x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.04	−0.059%	$13K	$4K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AAVEUSDT	+0.0100%	8h	144.13	+0.006%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.03	−0.060%	$328K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	144.06	−0.039%	$64.8M	$191.7M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.06	−0.042%	$62.0M	$68.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	144.05	−0.049%	$17.3M	$65.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.21	+0.062%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.85	−0.188%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.07	−0.035%	$8.1M	$16.3M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	144.08	−0.028%	$25.1M	$24.2M	200x	as long as short
KuCoin AAVEUSDTMlong	+0.0100%	8h	144.12	long leg	$10.4M	$9.4M	75x
Bitget AAVEUSDT	+0.0100%	8h	144.07	−0.035%	$29.5M	$18.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.08	−0.028%	—	$43.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.81	−0.215%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.85	−0.189%	$107K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.92	−0.139%	$455K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.89	−0.160%	$134K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.13	+0.007%	$143K	$469K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.07	−0.031%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.96	−0.111%	$5K	$314K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.06	−0.042%	$685K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.03	−0.064%	$915K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.04	−0.056%	$122K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	143.83	−0.201%	$4K	$106K	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	144.18	+0.042%	$11K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0144%	1h	144.06	−0.042%	$78.7M	$37.2M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0171%	1h	143.88	−0.167%	$341K	$727K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	144.14	+0.012%	$200K	$259K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	144.13	+0.007%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0235%	1h	144.06	−0.044%	$3.4M	$2.1M	50x	as long as short
Lighter AAVE	+0.0248%	1h	144.25	+0.087%	$4.6M	$2.5M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	144.08	−0.030%	$113K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	143.94	−0.125%	$769K	$2.9M	50x	as long as short