AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.7401%/8h= −810.4% APRnext payment −$9.25 per $10,000 · paid last 24h −0.292%

Price spread now: Deribit against Aevo−0.710%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$146as in the Funding arb table

Net, price: spread back to 7d avg − costs−$164as in the Price arb table

costs, in and out, $10k−$960.959% of the position

Long on Aevo Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.505%−$51 on $10k

Price spread, last 4 days (all we have)+0.715%+$71 · spread now −0.710%, 7d avg −0.028%

Together, before fees+0.210%+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$222 a day on $10k at the current rate, and Deribit is 0.683% cheaper against Aevo than usual: you would sell low and buy high (−$68 if the spread goes back to its 7-day average of −0.028%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.505% in total (about -26.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$9.25 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo AAVE-PERP	140.39	0.0104	pay 0.0013% / 1h	49m 52s	$119K	—	10x
Short	Deribit AAVE_USDC-PERPETUAL	139.39	−0.7297	pay 0.0912% / 1h	49m 52s	$205K	$304K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.710%Rate

Funding earned: −$1,554.21
Price spread: −0.710% → −0.028%: −$68.26
Slippage, 4 orders: −$72.92
Fee Aevo: 8 bp × 2 orders: −$16
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$1,718.4
Costs to cover: 0.959%
Break-even: never at this rate

Slippage from Aevo: live order book, 57 min ago; Deribit: live order book, 52 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, 57 min ago	26.53 bp	38.2 bp −$38	211.3 bp −$2,113	doesn't fit	doesn't fit
Sell Deribit live order book, 52 min ago	5.30 bp	8.8 bp −$9	15.4 bp −$154	doesn't fit	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
Deribit AAVE_USDC-PERPETUALshort	−0.7297%	1h	139.39	−0.710%	$205K	$304K	50x
SoDEX AAVE-USD	−0.0133%	1h	140.39	+0.002%	$7K	$216K	10x	as long as short
01 Exchange AAVEUSD	−0.0064%	1h	140.49	+0.073%	$10K	$2K	5x	as long as short
Bybit AAVEUSDT	−0.0009%	8h	140.16	−0.162%	$60.6M	$58.9M	75x	as long as short
dYdX AAVE-USD	0.0000%	1h	140.26	−0.089%	$101K	$6K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	140.35	−0.026%	$48K	$1.3M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	140.58	+0.139%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.441%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.47	+0.057%	—	—	20x	as long as short
Variational Omni AAVE	+0.0053%	8h	140.23	−0.114%	$3.6M	$746K	—	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_AAVE_USDC	+0.0083%	8h	140.39	+0.002%	$17K	$2K	10x	as long as short
Phemex AAVEUSDT	+0.0090%	8h	140.26	−0.091%	$3.9M	$3.6M	50x	as long as short
Lighter AAVE	+0.0096%	1h	140.39	+0.003%	$4.5M	$2.2M	10x	as long as short
Phoenix AAVE	+0.0097%	1h	140.65	+0.187%	$4K	$81K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.30	−0.065%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	140.44	+0.038%	$814K	$308K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	140.27	−0.083%	$76.9M	$27.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.28	−0.077%	$1.2M	$1.0M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.31	−0.055%	$342K	$300K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.18	−0.145%	$63.2M	$157.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	140.11	−0.197%	$16.1M	$50.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	140.58	+0.137%	$94K	$205K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	140.57	+0.133%	$165K	$20K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.25	−0.098%	$8.1M	$13.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.20	−0.133%	$22.4M	$21.3M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.37	−0.012%	$10.1M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.10	−0.205%	$29.0M	$16.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	140.23	−0.112%	—	$34.6M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	140.40	+0.009%	$384K	$592K	10x	as long as short
edgeX AAVEUSDC	+0.0100%	4h	140.53	+0.100%	$108K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	140.61	+0.157%	$443K	$3.0M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.54	+0.109%	$131K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.61	+0.159%	$131K	$367K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.48	+0.064%	$2K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	140.67	+0.204%	$635K	$1.4M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.13	−0.180%	$908K	$1.4M	50x	as long as short
Aevo AAVE-PERPlong	+0.0104%	1h	140.39	long leg	$119K	—	10x
RISEx AAVE/USDC	+0.0175%	1h	140.55	+0.115%	$172K	$229K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	140.12	−0.190%	$3.2M	$3.3M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0255% / S −0.0365%	1h	140.59	+0.145%	$111K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0256%	1h	140.49	+0.073%	$751K	$2.1M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0336%	1h	140.41	+0.016%	$3.4M	$1.8M	50x	as long as short