Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against SunX−5.078%61s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 5.078% cheaper against SunX than usual: you would sell low and buy high (−$508 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 61 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	SunX AAVE-USDT	144.29	0.0100	pay 0.0100% / 8h	2h 14m	$2K	$1.3M	20x
Short	Injective AAVE/USDC PERP	136.96	0.0033	get 0.0004% / 1h	14m 15s	$422	$51K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −5.078%Rate

Funding earned: −$14
Price spread: −5.078% → 0.000%: −$507.81
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$529.83
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 10 min ago; Injective: 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 SunX live order book, 10 min ago	44.88 bp	66.7 bp −$67	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Deribit AAVE_USDC-PERPETUAL	−0.0235%	1h	144.32	+0.023%	$253K	$494K	50x	as long as short
SoDEX AAVE-USD	−0.0155%	1h	144.29	+0.002%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0112%	1h	144.29	+0.002%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.27	−0.012%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.28	−0.003%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.23	−0.040%	$71K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.35	+0.042%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.45	+0.111%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERPshort	+0.0033%	1h	136.96	−5.078%	$422	$51K	12x
Reya AAVERUSDPERP	+0.0044%	1h	144.26	−0.016%	—	—	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	+0.0049%	8h	144.29	+0.002%	$31.3M	$26.3M	200x	as long as short
Binance AAVEUSDT	+0.0050%	8h	144.28	−0.005%	$65.7M	$184.8M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	144.30	+0.009%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0054%	8h	144.31	+0.016%	$17.4M	$66.1M	50x	as long as short
Gate AAVE_USDT	+0.0057%	8h	144.30	+0.009%	$7.8M	$15.9M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0061%	1h	144.10	−0.130%	$134K	$230K	50x	as long as short
GRVT AAVE_USDT_Perp	+0.0086%	8h	144.18	−0.071%	$451K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.51	+0.154%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.37	+0.054%	$122K	$146	10x	as long as short
Nado AAVE-PERP	+0.0096%	1h	144.22	−0.046%	$800K	$436K	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.30	+0.006%	$179K	$245K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.25	−0.023%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.39	+0.071%	$80.3M	$33.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.30	+0.007%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.31	+0.017%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.34	+0.037%	$61.4M	$65.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.27	−0.012%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.36	+0.051%	$10.2M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.30	+0.009%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.31	+0.016%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.42	+0.092%	$380K	$707K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.27	−0.013%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.15	−0.092%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.35	+0.044%	$126K	$468K	10x	as long as short
SunX AAVE-USDTlong	+0.0100%	8h	144.29	long leg	$2K	$1.3M	20x
HTX AAVE-USDT	+0.0100%	8h	144.61	+0.222%	$719K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.32	+0.023%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.33	+0.033%	$61K	$3K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.27	−0.009%	$924K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0169%	8h	144.30	+0.009%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.51	+0.155%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.35	+0.043%	$124K	—	100x	as long as short