Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h −0.047%

Price spread now: SoDEX against KuCoin−0.111%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$460.464% of the position

Long on KuCoin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.066%−$7 on $10k

Price spread, last 3 days (all we have)+0.214%+$21 · spread now −0.111%, 7d avg −0.015%

Together, before fees+0.148%+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and SoDEX is 0.096% cheaper against KuCoin 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AAVEUSDTM	144.63	0.0100	pay 0.0100% / 8h	6h 58m	$10.9M	$9.1M	75x
Short	SoDEX AAVE-USD	144.47	−0.0003	pay 0.0000% / 1h	58m 09s	$5K	$302K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.111%Rate

Funding earned: −$21.64
Price spread: −0.111% → −0.015%: −$9.57
Slippage, 4 orders: −$26.36
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$77.58
Costs to cover: 0.464%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; SoDEX: live order book, 10 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, 5 min ago	1.38 bp	19.1 bp −$19	43.1 bp −$431	doesn't fit	doesn't fit
Sell SoDEX live order book, 10 min ago	0.34 bp	5.0 bp −$5	9.8 bp −$98	92.4 bp −$9,241	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	−0.0056%	1h	144.62	−0.007%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.57	−0.043%	$3.5M	$2.0M	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0027%	1h	144.48	−0.104%	$252K	$361K	50x	as long as short
ApeX Omni AAVEUSDT	−0.0014%	1h	145.08	+0.311%	$135K	$231K	50x	as long as short
SoDEX AAVE-USDshort	−0.0003%	1h	144.47	−0.111%	$5K	$302K	10x
dYdX AAVE-USD	0.0000%	1h	144.48	−0.105%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.35	−0.194%	$65K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	145.14	+0.353%	$5K	$95K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.61	−0.012%	$70K	—	150x	as long as short
MEXC AAVE_USDT	+0.0030%	8h	144.52	−0.076%	$28.0M	$24.6M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0032%	8h	144.54	−0.063%	$65.3M	$184.4M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.303%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.56	−0.048%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.67	+0.026%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0064%	8h	144.52	−0.076%	$17.4M	$65.8M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.51	−0.085%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.61	−0.015%	$183K	$245K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.71	+0.056%	$4.6M	$1.4M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.47	−0.110%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.70	+0.052%	$795K	$424K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.77	+0.097%	$78.7M	$35.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.74	+0.075%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.49	−0.098%	$330K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.54	−0.062%	$61.8M	$65.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.59	−0.028%	$45K	$236K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.61	−0.014%	$7.8M	$14.8M	75x	as long as short
KuCoin AAVEUSDTMlong	+0.0100%	8h	144.63	long leg	$10.9M	$9.1M	75x
Bitget AAVEUSDT	+0.0100%	8h	144.46	−0.118%	$29.9M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.57	−0.041%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.21	+0.401%	$332K	$744K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.69	+0.041%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.23	+0.414%	$105K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.76	+0.089%	$457K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.76	+0.090%	$126K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.55	−0.057%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.71	+0.057%	$702K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.50	−0.090%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.28	+1.141%	$59K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.41	−0.153%	$929K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0123%	8h	145.10	+0.325%	$3.5M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0366%	1h	144.60	−0.018%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.65	+0.014%	$775K	$2.9M	50x	as long as short