Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0111%/8h= +12.1% APRpaid last 24h +0.020%

Price spread now: OKX against SoDEX0.000%56s7-day average 0.000% · 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—prices read too far apart to compare

costs, in and out, $10k−$260.261% of the position

Long on SoDEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.031%+$3 on $10k

Price spread, last 4 days (all we have)−0.192%−$19 · spread now 0.000%, 7d avg 0.000%

Together, before fees−0.162%−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of 0.000%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 56 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	SoDEX AAVE-USD	140.79	−0.0011	get 0.0001% / 1h	3m 27s	$7K	$216K	10x
Short	OKX AAVE-USDT-SWAP	140.79	0.0100	get 0.0100% / 8h	5h 03m	$16.2M	$51.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $23.3
Price spread: 0.000% → 0.000%: $0.03
Slippage, 4 orders: −$8.13
Fee SoDEX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$2.81
Costs to cover: 0.261%
Break-even: 7.8 days

Slippage from SoDEX: live order book, 43 min ago; OKX: 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 SoDEX live order book, 43 min ago	0.35 bp	5.2 bp −$5	10.2 bp −$102	92.2 bp −$9,221	doesn't fit
Sell OKX live order book, 3 min ago	0.35 bp	6.4 bp −$6	14.9 bp −$149	57.3 bp −$5,731	doesn't fit

AAVE on 42 exchanges

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
01 Exchange AAVEUSD	−0.0032%	1h	140.85	+0.043%	$10K	$2K	5x	as long as short
SoDEX AAVE-USDlong	−0.0011%	1h	140.79	long leg	$7K	$216K	10x
dYdX AAVE-USD	0.0000%	1h	140.77	−0.011%	$101K	$6K	10x	as long as short
Bybit AAVEUSDT	0.0000%	8h	140.77	−0.014%	$60.8M	$58.9M	75x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	140.84	+0.036%	$41K	$1.3M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	140.81	+0.014%	$207K	$304K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	140.81	+0.017%	$78K	—	150x	as long as short
Phoenix AAVE	+0.0028%	1h	140.77	−0.014%	$4K	$81K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.720%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.75	−0.030%	—	—	20x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AAVE	+0.0065%	8h	140.68	−0.080%	$3.6M	$758K	—	as long as short
Phemex AAVEUSDT	+0.0069%	8h	140.80	+0.007%	$3.9M	$3.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0084%	8h	140.78	−0.007%	$17K	$2K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.00	+0.147%	$4.5M	$2.2M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.78	−0.006%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	140.75	−0.028%	$810K	$305K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.00	+0.149%	$77.5M	$27.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.87	+0.057%	$1.2M	$1.0M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.82	+0.021%	$343K	$299K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.81	+0.014%	$63.5M	$158.5M	75x	as long as short
OKX AAVE-USDT-SWAPshort	+0.0100%	8h	140.79	0.000%	$16.2M	$51.3M	50x
Arcus AAVE-USD	+0.0100%	1h	140.95	+0.114%	$94K	$205K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.83	+0.028%	$8.1M	$13.7M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.81	+0.014%	$22.3M	$22.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.86	+0.050%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.82	+0.021%	$29.1M	$15.8M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	140.78	−0.007%	—	$6.5M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	140.61	−0.128%	$108K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	140.67	−0.085%	$444K	$3.0M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.70	−0.064%	$131K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.87	+0.057%	$132K	$367K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.80	+0.005%	$1K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.01	+0.153%	$637K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	140.73	−0.044%	$165K	$20K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.75	−0.029%	$912K	$1.4M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.81	+0.017%	$119K	—	10x	as long as short
RISEx AAVE/USDC	+0.0112%	1h	140.84	+0.037%	$180K	$227K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0140%	1h	140.94	+0.107%	$386K	$595K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	140.59	−0.142%	$3.2M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	140.93	+0.099%	$751K	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0254% / S −0.0365%	1h	140.80	+0.005%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0308%	1h	140.90	+0.081%	$3.4M	$1.8M	50x	as long as short