Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h 0.000%

Price spread now: Phemex against Nado+0.048%7-day average +0.046% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$460.459% of the position

Long on Nado Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.005%+$1 on $10k

Price spread, last 3 days (all we have)+0.056%+$6 · spread now +0.048%, 7d avg +0.046%

Together, before fees+0.062%+ Points / potential airdropNado: Active · farm board+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado AAVE-PERP	145.47	0.0100	pay 0.0012% / 1h	4m 36s	$797K	$423K	10x
Short	Phemex AAVEUSDT	145.54	0.0099	get 0.0099% / 8h	7h 04m	$4.2M	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Nado. 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 NadobpFee PhemexbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$0.13
Price spread: +0.048% → +0.046%: $0.2
Slippage, 4 orders: −$26.89
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$45.83
Costs to cover: 0.459%
Break-even: never at this rate

Slippage from Nado: live order book, 4 min ago; Phemex: 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 Nado live order book, 4 min ago	1.37 bp	8.3 bp −$8	17.1 bp −$171	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	3.42 bp	16.4 bp −$16	27.2 bp −$272	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
Kraken Futures PF_AAVEUSD	−0.0185%	1h	145.60	+0.086%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.73	+0.179%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0043%	1h	145.49	+0.014%	$5K	$302K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.86	+0.265%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.38	−0.062%	$65K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.22	+0.516%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	145.52	+0.034%	$254K	$367K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.51	+0.026%	$70K	—	150x	as long as short
MEXC AAVE_USDT	+0.0027%	8h	145.83	+0.247%	$28.5M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0029%	8h	145.80	+0.230%	$66.0M	$183.2M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.850%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	145.49	+0.014%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.45	−0.016%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0064%	8h	145.75	+0.192%	$17.8M	$66.1M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0065%	1h	146.47	+0.687%	$136K	$231K	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.53	+0.041%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.05	+0.399%	$4.7M	$1.5M	10x	as long as short
Phemex AAVEUSDTshort	+0.0099%	8h	145.54	+0.048%	$4.2M	$3.8M	50x
Paradex AAVE-USD-PERP	+0.0100%	8h	145.92	+0.310%	$14K	$4K	20x	as long as short
Nado AAVE-PERPlong	+0.0100%	1h	145.47	long leg	$797K	$423K	10x
Hyperliquid AAVE	+0.0100%	1h	145.96	+0.337%	$79.5M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.85	+0.263%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.88	+0.281%	$333K	$469K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.81	+0.234%	$62.4M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.83	+0.247%	$46K	$246K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	145.81	+0.234%	$7.9M	$15.4M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.91	+0.302%	$11.0M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.72	+0.172%	$30.2M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.79	+0.220%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.65	+0.124%	$332K	$742K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.38	−0.063%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.11	+0.440%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.52	+0.722%	$466K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.53	+0.041%	$126K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.47	−0.003%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.60	+0.089%	$707K	$5.2M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.28	+0.557%	$59K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.69	+0.149%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.82	+0.239%	$185K	$245K	10x	as long as short
BloFin AAVE-USDT	+0.0109%	8h	145.51	+0.027%	$3.5M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	145.51	+0.027%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.42	+0.653%	$784K	$2.9M	50x	as long as short