Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.011%

Price spread now: Injective against OKX−4.217%98s7-day average — · you buy dearer than you sell

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

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 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 4.217% cheaper against OKX than usual: you would sell low and buy high (−$422 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 98 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AAVE-USDT-SWAP	142.99	0.0100	pay 0.0100% / 8h	3h 25m	$17.0M	$64.4M	50x
Short	Injective AAVE/USDC PERP	136.96	0.0033	get 0.0004% / 1h	25m 38s	$422	$51K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −4.217%Rate

Funding earned: −$14
Price spread: −4.217% → 0.000%: −$421.71
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$445.73
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 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 OKX live order book, 3 min ago	0.35 bp	9.0 bp −$9	16.5 bp −$165	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	143.00	+0.005%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.97	−0.014%	$52K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.92	−0.049%	$218K	$390K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.96	−0.021%	$80K	—	150x	as long as short
Injective AAVE/USDC PERPshort	+0.0033%	1h	136.96	−4.217%	$422	$51K	12x
Phoenix AAVE	+0.0033%	1h	143.58	+0.413%	$4K	$106K	10x	as long as short
Nado AAVE-PERP	+0.0037%	1h	142.94	−0.035%	$835K	$398K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.91	−0.053%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0056%	8h	142.91	−0.056%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0061%	8h	142.89	−0.070%	$4.0M	$3.6M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange AAVEUSD	+0.0096%	1h	143.03	+0.028%	$10K	$2K	5x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.99	−0.001%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.04	+0.032%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.02	+0.020%	$327K	$446K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.00	+0.007%	$63.8M	$188.6M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.99	0.000%	$61.5M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAPlong	+0.0100%	8h	142.99	long leg	$17.0M	$64.4M	50x
Arcus AAVE-USD	+0.0100%	1h	143.07	+0.056%	$64K	$200K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.95	−0.028%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.00	+0.007%	$25.5M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.98	−0.007%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.92	−0.049%	$29.2M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.98	−0.007%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.08	+0.063%	$336K	$720K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.92	−0.050%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.36	+0.258%	$104K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.34	+0.244%	$452K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.53	+0.378%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.08	+0.063%	$132K	$449K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.93	−0.040%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.93	−0.042%	$5K	$309K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.10	+0.076%	$685K	$5.2M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.31	+0.224%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.93	−0.042%	$906K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.95	−0.024%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.00	+0.005%	$185K	$251K	10x	as long as short
Lighter AAVE	+0.0152%	1h	143.19	+0.143%	$4.5M	$2.3M	10x	as long as short
Hyperliquid AAVE	+0.0200%	1h	143.15	+0.112%	$78.4M	$37.0M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.94	−0.035%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	143.02	+0.023%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.96	−0.024%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.68	+0.483%	$788K	$2.8M	50x	as long as short