AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0052%/8h= +5.7% APRnext payment +$0.07 per $10,000 · paid last 24h +0.042%

Price spread now: Backpack against SoDEX0.000%7-day average +0.035% · 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−$29as in the Price arb table

costs, in and out, $10k−$260.257% of the position

Long on SoDEX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.089%+$9 on $10k

Price spread, last 4 days (all we have)−0.126%−$13 · spread now 0.000%, 7d avg +0.035%

Together, before fees−0.037%−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.035% cheaper against SoDEX than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.035%). If the spread goes back, that is −$3 on $10k: about 2.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX AAVE-USD	143.17	0.0100	pay 0.0013% / 1h	34m 59s	$5K	$312K	10x
Short	Backpack AAVE_USDC_PERP	143.17	0.0152	get 0.0019% / 1h	34m 59s	$336K	$728K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SoDEX. 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 SoDEXbpFee BackpackbpOrdersPrice spread, now 0.000%Rate

Funding earned: $10.95
Price spread: 0.000% → +0.035%: −$3.47
Slippage, 4 orders: −$7.67
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$18.19
Costs to cover: 0.257%
Break-even: 18.6 days

Slippage from SoDEX: live order book, 14 min ago; Backpack: live order book, 14 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 SoDEX live order book, 14 min ago	0.35 bp	5.1 bp −$5	9.8 bp −$98	99.7 bp −$9,968	doesn't fit
Sell Backpack live order book, 14 min ago	0.35 bp	7.4 bp −$7	55.7 bp −$557	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
Nado AAVE-PERP	−0.0004%	1h	143.10	−0.049%	$833K	$401K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.08	−0.063%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.06	−0.077%	$55K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.20	+0.021%	$218K	$394K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.22	+0.033%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.338%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.20	+0.023%	—	—	20x	as long as short
Phemex AAVEUSDT	+0.0055%	8h	143.19	+0.014%	$4.0M	$3.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0066%	8h	143.23	+0.042%	$18K	$10K	10x	as long as short
01 Exchange AAVEUSD	+0.0096%	1h	143.22	+0.035%	$10K	$2K	5x	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	143.15	−0.011%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.84	−0.228%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.18	+0.008%	$328K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.75	−0.294%	$63.7M	$189.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.67	−0.349%	$61.2M	$68.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.61	−0.391%	$17.1M	$64.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.25	+0.056%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.52	−0.452%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.79	−0.265%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.78	−0.272%	$25.3M	$24.0M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.80	−0.258%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.83	−0.237%	$29.2M	$18.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.78	−0.272%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.78	−0.270%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.65	−0.365%	$105K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.72	−0.314%	$447K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.73	−0.307%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.28	+0.077%	$135K	$460K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.14	−0.020%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USDlong	+0.0100%	1h	143.17	long leg	$5K	$312K	10x
HTX AAVE-USDT	+0.0100%	8h	143.55	+0.263%	$686K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.73	−0.306%	$905K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.25	+0.054%	$121K	$146	10x	as long as short
Hyperliquid AAVE	+0.0114%	1h	143.10	−0.049%	$78.2M	$37.1M	10x	as long as short
Phoenix AAVE	+0.0118%	1h	142.58	−0.412%	$4K	$106K	10x	as long as short
Backpack AAVE_USDC_PERPshort	+0.0152%	1h	143.17	0.000%	$336K	$728K	10x
RISEx AAVE/USDC	+0.0207%	1h	143.21	+0.028%	$188K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.22	+0.035%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0236%	1h	143.26	+0.061%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.21	+0.026%	$112K	—	100x	as long as short
Lighter AAVE	+0.0312%	1h	143.37	+0.136%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	143.23	+0.042%	$778K	$2.9M	50x	as long as short