Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.007%

Price spread now: Gate against Phoenix+0.042%7-day average −0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$580.578% of the position

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 4 days (all we have)−0.324%−$32 · spread now +0.042%, 7d avg −0.065%

Together, before fees−0.358%−$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Gate is 0.107% dearer against Phoenix than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AAVE	142.46	0.0033	pay 0.0004% / 1h	0m 59s	$4K	$106K	10x
Short	Gate AAVE_USDT	142.52	0.0100	get 0.0100% / 8h	3h 00m	$8.0M	$16.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.042%Rate

Funding earned: $13.97
Price spread: +0.042% → −0.065%: $10.68
Slippage, 4 orders: −$35.79
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$33.13
Costs to cover: 0.578%
Break-even: 23.6 days

Slippage from Phoenix: live order book, 44 min ago; Gate: live order book, 3 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 Phoenix live order book, 44 min ago	0.69 bp	13.9 bp −$14	54.2 bp −$542	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	0.70 bp	17.3 bp −$17	30.6 bp −$306	43.8 bp −$4,383	48.9 bp −$24.4K

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	142.36	−0.069%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.41	−0.035%	$49K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.53	+0.049%	$218K	$390K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.50	+0.031%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.861%	$422	$51K	12x	as long as short
Phoenix AAVElong	+0.0033%	1h	142.46	long leg	$4K	$106K	10x
Nado AAVE-PERP	+0.0043%	1h	142.45	−0.007%	$828K	$400K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.48	+0.015%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0058%	8h	142.50	+0.028%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0076%	8h	142.51	+0.035%	$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
Paradex AAVE-USD-PERP	+0.0100%	8h	142.42	−0.027%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.64	+0.126%	$78.0M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.55	+0.064%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.46	+0.003%	$326K	$446K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.54	+0.056%	$63.7M	$188.4M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.58	+0.084%	$61.2M	$67.9M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.55	+0.063%	$17.1M	$64.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.60	+0.098%	$64K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.61	+0.105%	$58K	−$0	10x	as long as short
Gate AAVE_USDTshort	+0.0100%	8h	142.52	+0.042%	$8.0M	$16.2M	75x
MEXC AAVE_USDT	+0.0100%	8h	142.54	+0.056%	$25.7M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.54	+0.056%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.53	+0.049%	$29.2M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.51	+0.035%	—	$43.6M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.62	+0.112%	$335K	$725K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.46	0.000%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.64	+0.126%	$104K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.78	+0.226%	$456K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.66	+0.140%	$133K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.60	+0.098%	$131K	$450K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.44	−0.013%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.51	+0.035%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.61	+0.105%	$682K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.49	+0.019%	$906K	$1.8M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	142.54	+0.056%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.53	+0.046%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	142.55	+0.062%	$186K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.53	+0.049%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	142.57	+0.080%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.50	+0.030%	$111K	—	100x	as long as short
Lighter AAVE	+0.0264%	1h	142.75	+0.205%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	142.48	+0.014%	$783K	$2.8M	50x	as long as short