Funding you earn now, next payment 01:00 UTC+0.0361%/8h= +39.5% APRnext payment +$0.45 per $10,000 · paid last 24h +0.057%
Price spread now: GMX against Phoenix−0.255%65s7-day average −0.010% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.134%−$13 on $10k
+Price spread, last 3 days (all we have)+0.317%+$32 · spread now −0.255%, 7d avg −0.010%
=Funding pays, the price is against you. GMX is 0.245% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.255% now, against its 7-day average of −0.010%). If the spread goes back, that is −$25 on $10k: about 2.3 days of funding at the current rate (+$11 a day). Mind the row above: over the last 3 days funding on this pair cost −0.134%, so the current rate has only just turned in your favour. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix AAVE | 144.68 | 0.0006 | pay 0.0001% / 1h | 44m 12s | $5K | $98K | 10x |
| Short | GMX AAVE/USD [AAVE-USDC] | 144.31 | L +0.0235% / S −0.0366% | get 0.0046% / 1h | 44m 12s | $129K | — | 100x |
Phoenix AAVE
GMX AAVE/USD [AAVE-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $75.72
- Price spread: −0.255% → −0.010%
- −$24.51
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $32.21
- Costs to cover
- 0.190%
- Break-even
- 4.0 days
Slippage unknown: Phoenix: live order book, 69 min ago; GMX: no order-book sample. 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 live order book, 69 min ago | 0.69 bp | 13.8 bp −$14 | 53.9 bp −$539 | doesn't fit | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_AAVEUSD | −0.0034% | 1h | 144.60 | −0.056% | $3.5M | $2.0M | 50x | as long as short |
| 01 Exchange AAVEUSD | −0.0032% | 1h | 144.22 | −0.318% | $11K | $2K | 5x | as long as short |
| Deribit AAVE_USDC-PERPETUAL | −0.0027% | 1h | 144.43 | −0.173% | $251K | $362K | 50x | as long as short |
| ApeX Omni AAVEUSDT | −0.0009% | 1h | 144.47 | −0.145% | $134K | $230K | 50x | as long as short |
| dYdX AAVE-USD | 0.0000% | 1h | 144.20 | −0.335% | $103K | $4K | 10x | as long as short |
| Kalshi KXAAVEPERP | 0.0000% | 8h | 144.15 | −0.366% | $65K | $1.5M | 3.4x | as long as short |
| gTrade (Gains Network) AAVE/USD | L +0.0005% / S −0.0004% | 1h | 144.43 | −0.176% | $70K | — | 150x | as long as short |
| Phoenix AAVElong | +0.0006% | 1h | 144.68 | long leg | $5K | $98K | 10x | |
| Injective AAVE/USDC PERP | +0.0033% | 1h | 136.96 | −5.336% | $422 | $51K | 12x | as long as short |
| MEXC AAVE_USDT | +0.0041% | 8h | 144.50 | −0.124% | $27.5M | $24.7M | 200x | as long as short |
Kraken Futures PF_AAVEUSD
01 Exchange AAVEUSD
Deribit AAVE_USDC-PERPETUAL
ApeX Omni AAVEUSDT
dYdX AAVE-USD
Kalshi KXAAVEPERP
gTrade (Gains Network) AAVE/USD
Injective AAVE/USDC PERP
MEXC AAVE_USDTShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance AAVEUSDT | +0.0043% | 8h | 144.49 | −0.129% | $65.2M | $185.1M | 75x | as long as short |
| Orderly PERP_AAVE_USDC | +0.0044% | 8h | 144.45 | −0.159% | $18K | $10K | 10x | as long as short |
| Reya AAVERUSDPERP | +0.0044% | 1h | 144.16 | −0.357% | — | — | 20x | as long as short |
| OKX AAVE-USDT-SWAP | +0.0067% | 8h | 144.50 | −0.124% | $17.5M | $66.1M | 50x | as long as short |
| Aevo AAVE-PERP | +0.0088% | 1h | 144.50 | −0.121% | $122K | $146 | 10x | as long as short |
| RISEx AAVE/USDC | +0.0089% | 1h | 144.23 | −0.309% | $185K | $232K | 10x | as long as short |
| Gate AAVE_USDT | +0.0094% | 8h | 144.53 | −0.104% | $7.8M | $15.0M | 75x | as long as short |
| Lighter AAVE | +0.0096% | 1h | 144.67 | −0.008% | $4.6M | $1.4M | 10x | as long as short |
| Paradex AAVE-USD-PERP | +0.0100% | 8h | 144.14 | −0.370% | $13K | $4K | 20x | as long as short |
| Nado AAVE-PERP | +0.0100% | 1h | 144.16 | −0.356% | $801K | $430K | 10x | as long as short |
| Hyperliquid AAVE | +0.0100% | 1h | 144.60 | −0.055% | $78.5M | $35.5M | 10x | as long as short |
| Aster AAVEUSDT | +0.0100% | 8h | 144.33 | −0.240% | $1.3M | $1.2M | 50x | as long as short |
| Pacifica AAVE | +0.0100% | 1h | 144.17 | −0.355% | $329K | $435K | 10x | as long as short |
| Bybit AAVEUSDT | +0.0100% | 8h | 144.50 | −0.124% | $61.9M | $65.3M | 75x | as long as short |
| Arcus AAVE-USD | +0.0100% | 1h | 144.21 | −0.325% | $45K | $188K | 10x | as long as short |
| Bulk AAVE-USD | +0.0100% | 1h | 144.44 | −0.166% | $58K | $2K | 10x | as long as short |
| KuCoin AAVEUSDTM | +0.0100% | 8h | 144.53 | −0.104% | $10.8M | $9.1M | 75x | as long as short |
| Bitget AAVEUSDT | +0.0100% | 8h | 144.47 | −0.145% | $30.0M | $18.2M | 75x | as long as short |
| BingX AAVE-USDT | +0.0100% | 8h | 144.49 | −0.131% | — | $44.2M | — | as long as short |
| Backpack AAVE_USDC_PERP | +0.0100% | 1h | 144.64 | −0.028% | $325K | $750K | 10x | as long as short |
| Variational Omni AAVE | +0.0100% | 8h | 144.28 | −0.275% | $3.8M | $1.3M | — | as long as short |
| edgeX AAVEUSDC | +0.0100% | 4h | 144.38 | −0.210% | $104K | $318K | 20x | as long as short |
| GRVT AAVE_USDT_Perp | +0.0100% | 8h | 144.54 | −0.095% | $456K | $3.7M | 10x | as long as short |
| Polymarket Perps AAVE-USD | +0.0100% | 1h | 144.25 | −0.297% | $125K | $417K | 10x | as long as short |
| SunX AAVE-USDT | +0.0100% | 8h | 144.42 | −0.182% | $2K | $1.3M | 20x | as long as short |
| SoDEX AAVE-USD | +0.0100% | 1h | 144.49 | −0.131% | $5K | $302K | 10x | as long as short |
| HTX AAVE-USDT | +0.0100% | 8h | 144.35 | −0.227% | $700K | $5.2M | 75x | as long as short |
| Phemex AAVEUSDT | +0.0100% | 8h | 144.51 | −0.118% | $4.1M | $3.8M | 50x | as long as short |
| Extended AAVE-USD | +0.0104% | 1h | 144.46 | −0.153% | $922K | $1.7M | 50x | as long as short |
| BloFin AAVE-USDT | +0.0147% | 8h | 144.53 | −0.104% | $3.4M | $3.5M | 100x | as long as short |
| GMX AAVE/USD [AAVE-USDC]short | L +0.0235% / S −0.0366% | 1h | 144.31 | −0.255% | $129K | — | 100x | |
| Coinbase International AAVE-PERP-INTX | +0.0296% | 1h | 144.57 | −0.076% | $777K | $2.8M | 50x | as long as short |
Binance AAVEUSDT
Orderly PERP_AAVE_USDC
Reya AAVERUSDPERP
OKX AAVE-USDT-SWAP
Aevo AAVE-PERP
RISEx AAVE/USDC
Gate AAVE_USDT
Lighter AAVE
Paradex AAVE-USD-PERP
Nado AAVE-PERP
Hyperliquid AAVE
Aster AAVEUSDT
Pacifica AAVE
Bybit AAVEUSDT
Arcus AAVE-USD
Bulk AAVE-USD
KuCoin AAVEUSDTM
Bitget AAVEUSDT
BingX AAVE-USDT
Backpack AAVE_USDC_PERP
Variational Omni AAVE
edgeX AAVEUSDC
GRVT AAVE_USDT_Perp
Polymarket Perps AAVE-USD
SunX AAVE-USDT
SoDEX AAVE-USD
HTX AAVE-USDT
Phemex AAVEUSDT
Extended AAVE-USD
BloFin AAVE-USDT
Coinbase International AAVE-PERP-INTX