Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0126%/8h= −13.8% APRpaid last 24h −0.316%

Price spread now: Deribit against SunX−0.030%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$200as in the Funding arb table

Net, price: spread back to 7d avg − costs−$150as in the Price arb table

costs, in and out, $10k−$1481.479% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.518%−$52 on $10k

Price spread, last 3 days (all we have)+0.087%+$9 · spread now −0.030%, 7d avg −0.013%

Together, before fees−0.431%−$43 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AAVE-USDT	145.07	0.0100	pay 0.0100% / 8h	1h 19m	$1K	$1.3M	20x
Short	Deribit AAVE_USDC-PERPETUAL	145.03	−0.0026	pay 0.0003% / 1h	19m 33s	$255K	$465K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$26.46
Price spread: −0.030% → −0.013%: −$1.63
Slippage, 4 orders: −$132.9
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$175.99
Costs to cover: 1.479%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; Deribit: live order book, 59 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 SunX live order book, 4 min ago	44.90 bp	65.4 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 59 min ago	4.51 bp	8.0 bp −$8	15.2 bp −$152	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
01 Exchange AAVEUSD	−0.0144%	1h	145.10	+0.019%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0045%	1h	145.03	−0.030%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0040%	1h	145.01	−0.043%	$5K	$298K	10x	as long as short
Deribit AAVE_USDC-PERPETUALshort	−0.0026%	1h	145.03	−0.030%	$255K	$465K	50x
dYdX AAVE-USD	0.0000%	1h	145.18	+0.074%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.21	+0.094%	$68K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.14	+0.048%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.592%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0036%	8h	145.09	+0.012%	$30.8M	$25.9M	200x	as long as short
Binance AAVEUSDT	+0.0037%	8h	145.11	+0.026%	$66.1M	$185.4M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	145.14	+0.047%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.16	+0.057%	$181K	$244K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	144.98	−0.064%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0053%	8h	145.14	+0.046%	$17.6M	$66.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.17	+0.064%	$3.5M	$2.1M	50x	as long as short
Gate AAVE_USDT	+0.0063%	8h	145.09	+0.012%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.02	−0.040%	$122K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.29	+0.148%	$4.7M	$1.6M	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0097%	8h	145.12	+0.030%	$458K	$3.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.07	−0.001%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.09	+0.008%	$803K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.22	+0.104%	$79.8M	$33.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.16	+0.060%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.11	+0.027%	$331K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.14	+0.046%	$61.6M	$65.7M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.12	+0.032%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.07	+0.001%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.08	+0.005%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.16	+0.060%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.09	+0.012%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.17	+0.067%	$347K	$727K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.06	−0.011%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.08	+0.006%	$104K	$316K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.08	+0.005%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.21	+0.094%	$127K	$467K	10x	as long as short
SunX AAVE-USDTlong	+0.0100%	8h	145.07	long leg	$1K	$1.3M	20x
HTX AAVE-USDT	+0.0100%	8h	145.25	+0.121%	$696K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.13	+0.039%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.08	+0.003%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0145%	8h	145.11	+0.026%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.14	+0.045%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.06	−0.009%	$787K	$3.0M	50x	as long as short