Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0134%/8h= −14.7% APRpaid last 24h −0.283%

Price spread now: Deribit against OKX+0.035%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.392%−$39 on $10k

Price spread, last 4 days (all we have)+0.455%+$46 · spread now +0.035%, 7d avg −0.001%

Together, before fees+0.063%+$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.037% dearer against OKX than usual: you sell high and buy low (spread +0.035% now, against its 7-day average of −0.001%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AAVE-USDT-SWAP	140.94	0.0100	pay 0.0100% / 8h	7h 25m	$16.4M	$64.5M	50x
Short	Deribit AAVE_USDC-PERPETUAL	140.99	−0.0034	pay 0.0004% / 1h	25m 25s	$212K	$393K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$28.14
Price spread: +0.035% → −0.001%: $3.69
Slippage, 4 orders: −$15.19
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$56.65
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Deribit: 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 OKX live order book, 3 min ago	0.36 bp	8.8 bp −$9	13.2 bp −$132	40.0 bp −$3,995	doesn't fit
Sell Deribit live order book, 3 min ago	4.63 bp	8.1 bp −$8	15.7 bp −$157	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
Deribit AAVE_USDC-PERPETUALshort	−0.0034%	1h	140.99	+0.035%	$212K	$393K	50x
dYdX AAVE-USD	0.0000%	1h	141.01	+0.047%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	140.68	−0.184%	$52K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.00	+0.043%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.824%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.94	−0.003%	—	—	20x	as long as short
SoDEX AAVE-USD	+0.0069%	1h	140.63	−0.220%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	+0.0072%	1h	141.10	+0.114%	$10K	$2K	5x	as long as short
Orderly PERP_AAVE_USDC	+0.0090%	8h	140.94	0.000%	$17K	$8K	10x	as long as short
Phoenix AAVE	+0.0096%	1h	140.86	−0.057%	$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	140.93	−0.009%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.04	+0.069%	$835K	$406K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.13	+0.138%	$77.0M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.03	+0.067%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.00	+0.042%	$343K	$409K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.00	+0.046%	$63.2M	$191.7M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	140.94	0.000%	$60.7M	$69.0M	75x	as long as short
OKX AAVE-USDT-SWAPlong	+0.0100%	8h	140.94	long leg	$16.4M	$64.5M	50x
Arcus AAVE-USD	+0.0100%	1h	141.11	+0.121%	$94K	$228K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	140.61	−0.234%	$162K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.02	+0.057%	$8.2M	$16.3M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.04	+0.071%	$22.5M	$24.2M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.05	+0.078%	$10.2M	$9.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.04	+0.071%	$28.6M	$17.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	140.97	+0.021%	—	$43.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	140.61	−0.236%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	140.73	−0.147%	$108K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	140.74	−0.142%	$443K	$3.5M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.79	−0.106%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.09	+0.106%	$133K	$472K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.68	−0.188%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	140.78	−0.115%	$662K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	140.72	−0.156%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.96	+0.018%	$906K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.98	+0.031%	$119K	$146	10x	as long as short
Lighter AAVE	+0.0128%	1h	141.18	+0.172%	$4.5M	$2.5M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0167%	1h	140.78	−0.114%	$383K	$737K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	141.00	+0.043%	$752K	$2.7M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	140.72	−0.156%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	141.11	+0.120%	$171K	$297K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0250%	1h	140.78	−0.111%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	140.99	+0.038%	$110K	—	100x	as long as short