AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Backpack against Aevo+0.187%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$156as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1561.557% of the position

Long on Aevo Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.504%−$50 · spread now +0.187%, 7d avg +0.009%

Together, before fees−0.507%−$51 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.178% dearer against Aevo than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo AAVE-PERP	141.64	0.0104	pay 0.0013% / 1h	48m 09s	$120K	$146	10x
Short	Backpack AAVE_USDC_PERP	141.90	0.0100	get 0.0013% / 1h	48m 09s	$337K	$715K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aevo. 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 AevobpFee BackpackbpOrdersPrice spread, now +0.187%Rate

Funding earned: −$0.84
Price spread: +0.187% → +0.009%: $17.81
Slippage, 4 orders: −$129.73
Fee Aevo: 8 bp × 2 orders: −$16
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$138.76
Costs to cover: 1.557%
Break-even: never at this rate

Slippage from Aevo: live order book, 10 min ago; Backpack: live order book, 11 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 Aevo live order book, 10 min ago	42.45 bp	60.1 bp −$60	269.4 bp −$2,694	doesn't fit	doesn't fit
Sell Backpack live order book, 11 min ago	1.40 bp	9.3 bp −$9	552.8 bp −$5,528	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
Deribit AAVE_USDC-PERPETUAL	−0.7011%	1h	140.82	−0.576%	$221K	$396K	50x	as long as short
01 Exchange AAVEUSD	−0.0168%	1h	141.86	+0.159%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0078%	1h	141.79	+0.109%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.88	+0.175%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.60	−0.025%	$47K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.93	+0.211%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.301%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.85	+0.149%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	141.85	+0.152%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	142.03	+0.279%	$4K	$102K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AAVE-PERP	+0.0074%	1h	141.94	+0.219%	$844K	$445K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.81	+0.123%	$4.5M	$1.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.77	+0.094%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.89	+0.180%	$76.6M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.86	+0.158%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.78	+0.103%	$322K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.75	+0.082%	$63.5M	$185.2M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.79	+0.109%	$60.7M	$66.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.77	+0.095%	$17.0M	$63.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.97	+0.236%	$63K	$204K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.81	+0.123%	$7.9M	$15.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.86	+0.159%	$25.2M	$23.6M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.79	+0.109%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.72	+0.060%	$28.9M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.77	+0.095%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	141.90	+0.187%	$337K	$715K	10x
Variational Omni AAVE	+0.0100%	8h	142.06	+0.300%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.49	+0.605%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.52	+0.625%	$450K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.05	+0.293%	$132K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.95	+0.222%	$122K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.81	+0.121%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.03	+0.276%	$683K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.76	+0.088%	$4.0M	$3.7M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.68	+0.735%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.83	+0.135%	$895K	$1.7M	50x	as long as short
Aevo AAVE-PERPlong	+0.0104%	1h	141.64	long leg	$120K	$146	10x
RISEx AAVE/USDC	+0.0136%	1h	141.97	+0.238%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.55	−0.060%	$3.3M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	141.91	+0.197%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0326%	1h	141.87	+0.166%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.13	+0.349%	$775K	$2.8M	50x	as long as short