AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0367%/8h= −40.2% APRnext payment −$3.67 per $10,000 · paid last 24h −0.001%

Price spread now: Phemex against KuCoin−0.084%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$680.675% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)+0.546%+$55 · spread now −0.084%, 7d avg +0.004%

Together, before fees+0.606%+$61 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Phemex is 0.089% cheaper against KuCoin than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.004%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.060%, 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 0.060% in total (about 3.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.67 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AAVEUSDTM	142.50	0.0100	pay 0.0100% / 8h	7h 20m	$10.3M	$9.6M	75x
Short	Phemex AAVEUSDT	142.38	−0.0267	pay 0.0267% / 8h	7h 20m	$3.9M	$3.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$77.07
Price spread: −0.084% → +0.004%: −$8.85
Slippage, 4 orders: −$43.54
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$153.47
Costs to cover: 0.675%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Phemex: live order book, 3 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 KuCoin live order book, 7 min ago	1.07 bp	17.0 bp −$17	41.7 bp −$417	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.47 bp	12.2 bp −$12	17.6 bp −$176	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
Phemex AAVEUSDTshort	−0.0267%	8h	142.38	−0.084%	$3.9M	$3.6M	50x
dYdX AAVE-USD	0.0000%	1h	142.41	−0.063%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.52	+0.014%	$51K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.60	+0.070%	$212K	$390K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.18	−0.224%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.888%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.41	−0.064%	—	—	20x	as long as short
01 Exchange AAVEUSD	+0.0072%	1h	142.34	−0.112%	$10K	$2K	5x	as long as short
Orderly PERP_AAVE_USDC	+0.0091%	8h	142.57	+0.049%	$17K	$8K	10x	as long as short
Phoenix AAVE	+0.0096%	1h	142.27	−0.161%	$4K	$99K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.24	−0.185%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	142.43	−0.046%	$838K	$405K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.60	+0.070%	$77.9M	$36.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.43	−0.048%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.28	−0.153%	$346K	$409K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.31	−0.135%	$63.6M	$192.3M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.23	−0.189%	$61.2M	$68.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.23	−0.189%	$16.5M	$64.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.46	−0.028%	$95K	$228K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	140.61	−1.326%	$162K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.51	+0.007%	$8.1M	$16.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.46	−0.028%	$22.7M	$24.3M	200x	as long as short
KuCoin AAVEUSDTMlong	+0.0100%	8h	142.50	long leg	$10.3M	$9.6M	75x
Bitget AAVEUSDT	+0.0100%	8h	142.23	−0.189%	$28.9M	$17.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.45	−0.035%	—	$43.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	140.61	−1.328%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.65	−0.597%	$109K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.74	−0.536%	$451K	$3.5M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.76	−0.519%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.37	−0.091%	$135K	$472K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.52	+0.017%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.57	+0.049%	$6K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	+0.224%	$672K	$5.3M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.53	+0.022%	$918K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.60	+0.074%	$120K	$146	10x	as long as short
Lighter AAVE	+0.0136%	1h	142.68	+0.127%	$4.6M	$2.5M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0197%	1h	142.64	+0.098%	$388K	$738K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	142.81	+0.218%	$759K	$2.7M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.47	−0.021%	$3.3M	$3.6M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	142.12	−0.264%	$172K	$297K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0247%	1h	142.64	+0.100%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	142.47	−0.022%	$111K	—	100x	as long as short