Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h −0.023%

Price spread now: SoDEX against OKX+0.118%7-day average +0.009% · 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−$17as in the Price arb table

costs, in and out, $10k−$280.275% of the position

Long on OKX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 3 days (all we have)−0.013%−$1 · spread now +0.118%, 7d avg +0.009%

Together, before fees−0.041%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and SoDEX is 0.108% dearer against OKX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AAVE-USDT-SWAP	144.26	0.0079	pay 0.0079% / 8h	6h 18m	$17.3M	$65.3M	50x
Short	SoDEX AAVE-USD	144.43	0.0100	get 0.0013% / 1h	18m 14s	$5K	$297K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.118%Rate

Funding earned: $4.33
Price spread: +0.118% → +0.009%: $10.84
Slippage, 4 orders: −$9.51
Fee OKX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$12.34
Costs to cover: 0.275%
Break-even: 26.9 days

Slippage from OKX: live order book, 6 min ago; SoDEX: live order book, 50 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, 6 min ago	0.34 bp	7.5 bp −$8	15.6 bp −$156	84.1 bp −$8,412	doesn't fit
Sell SoDEX live order book, 50 min ago	0.34 bp	5.0 bp −$5	9.8 bp −$98	92.4 bp −$9,241	doesn't fit

AAVE on 41 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-PERPETUAL	−0.0650%	1h	144.30	+0.028%	$245K	$363K	50x	as long as short
01 Exchange AAVEUSD	−0.0040%	1h	144.34	+0.055%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.55	+0.200%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.50	+0.164%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.42	+0.111%	$70K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.46	+0.140%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.83	+0.395%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.060%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.34	+0.058%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.40	+0.097%	$18K	$10K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0065%	8h	144.35	+0.062%	$26.8M	$24.9M	200x	as long as short
Binance AAVEUSDT	+0.0067%	8h	144.40	+0.099%	$65.2M	$184.6M	75x	as long as short
OKX AAVE-USDT-SWAPlong	+0.0079%	8h	144.26	long leg	$17.3M	$65.3M	50x
RISEx AAVE/USDC	+0.0089%	1h	144.40	+0.099%	$200K	$229K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.63	+0.256%	$4.7M	$1.5M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.44	+0.125%	$122K	$146	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.64	+0.261%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.41	+0.104%	$803K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.41	+0.104%	$78.2M	$35.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.36	+0.072%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.62	+0.251%	$330K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.30	+0.028%	$61.7M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.38	+0.083%	$45K	$181K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.44	+0.126%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.32	+0.042%	$7.8M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.45	+0.132%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.36	+0.069%	$30.0M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.28	+0.014%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.39	+0.090%	$322K	$746K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.48	+0.151%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.61	+0.241%	$104K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.81	+0.382%	$464K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.63	+0.256%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.41	+0.104%	$124K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.40	+0.094%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USDshort	+0.0100%	1h	144.43	+0.118%	$5K	$297K	10x
HTX AAVE-USDT	+0.0100%	8h	144.52	+0.178%	$700K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.37	+0.076%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.36	+0.071%	$917K	$1.7M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0245% / S −0.0378%	1h	144.45	+0.133%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.76	+0.347%	$778K	$2.8M	50x	as long as short