Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.0097%/8hpaid last 24h −0.003%

Price spread now: Binance against Phoenix−0.069%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.069% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.069% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AAVE	144.80	0	get 0.0000% / 1h	6m 59s	$4K	$92K	10x
Short	Binance AAVEUSDT	144.70	0.0097	get 0.0097% / 8h	4h 06m	$65.5M	$173.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now −0.069%Rate

Funding earned: $20.33
Price spread: −0.069% → 0.000%: −$6.91
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$3.58
Costs to cover: 0.170%
Break-even: 8.2 days

Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 11 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 Phoenix no order-book sample	—	—	—	—	—
Sell Binance live order book, 11 min ago	0.35 bp	8.7 bp −$9	16.8 bp −$168	51.8 bp −$5,177	163.0 bp −$81.5K

Phoenix: 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
SoDEX AAVE-USD	−0.0149%	1h	144.65	−0.104%	$5K	$281K	10x	as long as short
01 Exchange AAVEUSD	−0.0024%	1h	144.77	−0.021%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.63	−0.118%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.71	−0.062%	$54K	$1.5M	3.4x	as long as short
Phoenix AAVElong	0.0000%	1h	144.80	long leg	$4K	$92K	10x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.74	−0.041%	$210K	$379K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.76	−0.028%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.414%	$422	$51K	12x	as long as short
OKX AAVE-USDT-SWAP	+0.0042%	8h	144.67	−0.090%	$18.1M	$63.2M	50x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.66	−0.098%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_AAVE_USDC	+0.0069%	8h	144.67	−0.090%	$18K	$12K	10x	as long as short
Bulk AAVE-USD	+0.0081%	1h	144.48	−0.221%	$61K	$2K	10x	as long as short
Variational Omni AAVE	+0.0094%	8h	144.67	−0.087%	$3.8M	$1.3M	—	as long as short
Lighter AAVE	+0.0096%	1h	144.87	+0.048%	$4.7M	$1.6M	10x	as long as short
Gate AAVE_USDT	+0.0096%	8h	144.68	−0.083%	$7.8M	$14.2M	75x	as long as short
MEXC AAVE_USDT	+0.0096%	8h	144.68	−0.083%	$32.8M	$24.9M	200x	as long as short
Binance AAVEUSDTshort	+0.0097%	8h	144.70	−0.069%	$65.5M	$173.3M	75x
Paradex AAVE-USD-PERP	+0.0100%	8h	144.65	−0.102%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.62	−0.124%	$825K	$428K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.76	−0.026%	$1.4M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.65	−0.101%	$338K	$482K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.66	−0.097%	$61.5M	$61.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.75	−0.035%	$61K	$382K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.71	−0.062%	$10.3M	$8.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.68	−0.083%	$30.0M	$16.8M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.67	−0.090%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.78	−0.014%	$331K	$589K	10x	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.62	−0.122%	$98K	$311K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.69	−0.077%	$453K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.72	−0.055%	$135K	$235K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.76	−0.028%	$130K	$466K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.62	−0.126%	$1K	$1.2M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.73	−0.048%	$737K	$4.8M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.72	−0.055%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.66	−0.097%	$928K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.72	−0.054%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0105%	1h	144.74	−0.038%	$189K	$236K	10x	as long as short
Hyperliquid AAVE	+0.0152%	1h	144.88	+0.055%	$81.3M	$28.8M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0208%	1h	144.69	−0.076%	$747K	$2.7M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0210%	1h	144.80	0.000%	$3.5M	$2.2M	50x	as long as short
BloFin AAVE-USDT	+0.0217%	8h	144.67	−0.090%	$3.5M	$5.3M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0451%	1h	144.75	−0.032%	$127K	—	100x	as long as short