Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.021%

Price spread now: OKX against RISEx+0.098%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.098%, 7d avg −0.019%

Together, before fees−0.090%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.117% dearer against RISEx than usual: you sell high and buy low (spread +0.098% now, against its 7-day average of −0.019%): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx AAVE/USDC	143.18	0.0089	pay 0.0011% / 1h	38m 34s	$183K	$229K	10x
Short	OKX AAVE-USDT-SWAP	143.32	0.0070	get 0.0070% / 8h	6h 38m	$17.3M	$65.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against RISEx. 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 RISExbpFee OKXbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$4.15
Price spread: +0.098% → −0.019%: $11.71
Slippage, 4 orders: −$12.87
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$21.3
Costs to cover: 0.289%
Break-even: never at this rate

Slippage from RISEx: live order book, 30 min ago; OKX: live order book, 5 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 RISEx live order book, 30 min ago	2.63 bp	5.6 bp −$6	11.0 bp −$110	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.35 bp	8.9 bp −$9	16.5 bp −$165	84.1 bp −$8,412	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
Deribit AAVE_USDC-PERPETUAL	−0.0726%	1h	143.32	+0.098%	$249K	$362K	50x	as long as short
01 Exchange AAVEUSD	−0.0048%	1h	143.10	−0.056%	$10K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	143.51	+0.234%	$3.4M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.47	+0.205%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.30	+0.084%	$64K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.45	+0.189%	$69K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.08	+0.629%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.344%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	143.42	+0.168%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.39	+0.149%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0045%	8h	143.41	+0.161%	$27.0M	$24.8M	200x	as long as short
Binance AAVEUSDT	+0.0046%	8h	143.41	+0.159%	$64.7M	$186.3M	75x	as long as short
SoDEX AAVE-USD	+0.0049%	1h	143.44	+0.182%	$5K	$302K	10x	as long as short
OKX AAVE-USDT-SWAPshort	+0.0070%	8h	143.32	+0.098%	$17.3M	$65.9M	50x
ApeX Omni AAVEUSDT	+0.0070%	1h	144.53	+0.943%	$134K	$230K	50x	as long as short
Gate AAVE_USDT	+0.0084%	8h	143.42	+0.168%	$7.7M	$15.1M	75x	as long as short
RISEx AAVE/USDClong	+0.0089%	1h	143.18	long leg	$183K	$229K	10x
Lighter AAVE	+0.0096%	1h	143.63	+0.315%	$4.6M	$1.5M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	143.46	+0.195%	$121K	$146	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.40	+0.154%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.42	+0.168%	$798K	$431K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.58	+0.279%	$77.8M	$35.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.43	+0.177%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.44	+0.184%	$327K	$436K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.37	+0.133%	$61.4M	$65.5M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.16	−0.014%	$44K	$192K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.44	+0.880%	$58K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.40	+0.154%	$10.8M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.21	+0.021%	$29.8M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.17	−0.007%	—	$44.2M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.55	+0.258%	$322K	$750K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.60	+0.295%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.45	+0.890%	$104K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.64	+0.322%	$453K	$3.8M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.41	+0.161%	$124K	$418K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.46	+0.193%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.63	+0.314%	$697K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.36	+0.126%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.26	+0.054%	$913K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0147%	8h	144.53	+0.943%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0231% / S −0.0348%	1h	143.46	+0.195%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	143.50	+0.223%	$769K	$2.8M	50x	as long as short