Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Phemex against Paradex+0.009%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex AAVE-USD-PERP	143.89	0.0100	pay 0.0100% / 8h	2h 02m	$13K	$4K	20x
Short	Phemex AAVEUSDT	143.90	0.0100	get 0.0100% / 8h	2h 02m	$4.0M	$3.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Paradex. 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 ParadexbpFee PhemexbpOrdersPrice spread, now +0.009%Rate

Funding earned: $0
Price spread: +0.009% → 0.000%: $0.86
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$15.14
Costs to cover: 0.160%
Break-even: 365711.4 days

Slippage unknown: Paradex: no order-book sample; Phemex: live order book, 2 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	1.74 bp	16.7 bp −$17	27.0 bp −$270	doesn't fit	doesn't fit

Paradex: 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	143.93	+0.027%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.90	+0.009%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.88	−0.005%	$219K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.88	−0.009%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0030%	1h	143.87	−0.012%	$835K	$400K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.815%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.86	−0.021%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0074%	8h	143.85	−0.026%	$18K	$10K	10x	as long as short
Paradex AAVE-USD-PERPlong	+0.0100%	8h	143.89	long leg	$13K	$4K	20x
Aster AAVEUSDT	+0.0100%	8h	143.97	+0.056%	$1.2M	$1.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AAVE	+0.0100%	1h	143.94	+0.035%	$328K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.91	+0.016%	$64.7M	$192.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.90	+0.009%	$61.9M	$68.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.90	+0.009%	$17.3M	$65.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.01	+0.085%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.91	+0.016%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.90	+0.009%	$8.0M	$16.3M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.89	+0.002%	$25.0M	$24.2M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.94	+0.036%	$10.4M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.85	−0.026%	$29.4M	$18.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.86	−0.019%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	144.00	+0.078%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.01	+0.084%	$107K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.98	+0.066%	$455K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.07	+0.127%	$134K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.98	+0.064%	$143K	$469K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.90	+0.005%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.88	−0.005%	$5K	$314K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.99	+0.068%	$683K	$5.2M	75x	as long as short
Phemex AAVEUSDTshort	+0.0100%	8h	143.90	+0.009%	$4.0M	$3.6M	50x
Extended AAVE-USD	+0.0104%	1h	143.79	−0.070%	$915K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.91	+0.016%	$122K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	144.05	+0.113%	$4K	$106K	10x	as long as short
01 Exchange AAVEUSD	+0.0128%	1h	143.95	+0.043%	$11K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0164%	1h	144.10	+0.148%	$78.7M	$37.2M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0170%	1h	144.04	+0.106%	$342K	$727K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	143.96	+0.049%	$200K	$262K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.87	−0.012%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0235%	1h	144.01	+0.083%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.88	−0.007%	$112K	—	100x	as long as short
Lighter AAVE	+0.0256%	1h	144.13	+0.166%	$4.6M	$2.5M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	143.94	+0.036%	$768K	$2.9M	50x	as long as short