Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%

Price spread now: Aevo against Phemex+0.022%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1051.045% of the position

Long on Phemex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.022%, 7d avg −0.002%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aevo is 0.024% dearer against Phemex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	142.04	0.0100	pay 0.0100% / 8h	2h 28m	$4.0M	$3.6M	50x
Short	Aevo AAVE-PERP	142.07	0.0104	get 0.0013% / 1h	28m 09s	$120K	$146	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now +0.022%Rate

Funding earned: $0.84
Price spread: +0.022% → −0.002%: $2.4
Slippage, 4 orders: −$76.5
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$101.26
Costs to cover: 1.045%
Break-even: 850.8 days

Slippage from Phemex: live order book, 6 min ago; Aevo: live order book, 21 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 Phemex live order book, 6 min ago	5.27 bp	18.9 bp −$19	27.4 bp −$274	doesn't fit	doesn't fit
Sell Aevo live order book, 21 min ago	21.97 bp	38.5 bp −$38	233.6 bp −$2,336	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
dYdX AAVE-USD	0.0000%	1h	142.16	+0.081%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.96	−0.056%	$52K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.03	−0.007%	$216K	$394K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.98	−0.042%	$79K	—	150x	as long as short
Nado AAVE-PERP	+0.0027%	1h	141.98	−0.042%	$827K	$400K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.576%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.94	−0.072%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0068%	8h	141.99	−0.035%	$18K	$10K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.10	+0.042%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.05	+0.008%	$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	142.16	+0.084%	$325K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.06	+0.013%	$63.5M	$190.4M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.10	+0.042%	$60.9M	$68.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.09	+0.035%	$17.0M	$64.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.23	+0.134%	$63K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.34	+0.209%	$57K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.11	+0.049%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.10	+0.042%	$25.0M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.05	+0.007%	$10.2M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.09	+0.035%	$29.1M	$18.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.13	+0.063%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.93	−0.075%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.32	+0.196%	$105K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.06	+0.016%	$445K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.28	+0.169%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.04	0.000%	$140K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.13	+0.064%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.01	−0.021%	$5K	$313K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.46	+0.292%	$681K	$5.2M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	142.04	long leg	$4.0M	$3.6M	50x
Extended AAVE-USD	+0.0104%	1h	141.96	−0.060%	$905K	$1.7M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	142.06	+0.014%	$10K	$2K	5x	as long as short
Aevo AAVE-PERPshort	+0.0104%	1h	142.07	+0.022%	$120K	$146	10x
Hyperliquid AAVE	+0.0108%	1h	142.25	+0.148%	$77.8M	$37.1M	10x	as long as short
Phoenix AAVE	+0.0118%	1h	142.14	+0.070%	$4K	$106K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0152%	1h	142.20	+0.113%	$337K	$730K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.07	+0.018%	$190K	$253K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.37	+0.232%	$3.3M	$3.5M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0238%	1h	142.07	+0.019%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	141.94	−0.073%	$111K	—	100x	as long as short
Lighter AAVE	+0.0296%	1h	142.25	+0.145%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	142.08	+0.028%	$765K	$2.8M	50x	as long as short