Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h +0.011%

Price spread now: BloFin against Arcus−0.267%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$330.329% of the position

Long on Arcus Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.091%+$9 on $10k

Price spread, last 3 days (all we have)+0.358%+$36 · spread now −0.267%, 7d avg −0.001%

Together, before fees+0.448%+$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and BloFin is 0.266% cheaper against Arcus than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.001%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.091%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus AAVE-USD	146.20	0.0100	pay 0.0013% / 1h	33m 50s	$46K	$278K	10x
Short	BloFin AAVE-USDT	145.81	0.0085	get 0.0085% / 8h	7h 33m	$3.5M	$4.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Arcus. 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 ArcusbpFee BloFinbpOrdersPrice spread, now −0.267%Rate

Funding earned: −$3.05
Price spread: −0.267% → −0.001%: −$26.58
Slippage, 4 orders: −$16.45
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$62.58
Costs to cover: 0.329%
Break-even: never at this rate

Slippage from Arcus: live order book, 40 min ago; BloFin: live order book, 5 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 Arcus live order book, 40 min ago	2.05 bp	8.3 bp −$8	23.8 bp −$238	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.69 bp	9.1 bp −$9	14.9 bp −$149	28.8 bp −$2,878	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.25	+0.034%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0144%	1h	146.18	−0.014%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0109%	1h	146.13	−0.048%	$5K	$305K	10x	as long as short
Phemex AAVEUSDT	−0.0060%	8h	146.16	−0.027%	$4.2M	$3.8M	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	146.17	−0.021%	$255K	$369K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.33	+0.089%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.10	−0.068%	$77K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	145.87	−0.226%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.19	−0.005%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0020%	8h	146.26	+0.041%	$29.2M	$25.8M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0020%	8h	146.29	+0.062%	$66.3M	$184.8M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.320%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.09	−0.073%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0047%	8h	146.11	−0.062%	$18K	$10K	10x	as long as short
Gate AAVE_USDT	+0.0049%	8h	146.15	−0.034%	$7.9M	$15.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0060%	8h	146.27	+0.048%	$17.9M	$66.9M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0067%	1h	146.03	−0.116%	$136K	$230K	50x	as long as short
GRVT AAVE_USDT_Perp	+0.0069%	8h	145.92	−0.192%	$462K	$3.9M	10x	as long as short
BloFin AAVE-USDTshort	+0.0085%	8h	145.81	−0.267%	$3.5M	$4.0M	100x
Bybit AAVEUSDT	+0.0088%	8h	146.29	+0.062%	$62.5M	$65.3M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.16	−0.024%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.49	+0.198%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.12	−0.052%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.11	−0.058%	$799K	$445K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.26	+0.041%	$79.8M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.14	−0.039%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.26	+0.042%	$334K	$503K	10x	as long as short
Arcus AAVE-USDlong	+0.0100%	1h	146.20	long leg	$46K	$278K	10x
Bulk AAVE-USD	+0.0100%	1h	145.72	−0.328%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.12	−0.055%	$10.1M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.08	−0.082%	$30.3M	$18.1M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.09	−0.075%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.23	+0.021%	$333K	$741K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.87	−0.224%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.87	−0.224%	$105K	$317K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.24	+0.027%	$128K	$427K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.14	−0.038%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.27	+0.047%	$710K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.07	−0.092%	$932K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.23	+0.021%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0233% / S −0.0363%	1h	146.20	+0.003%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.14	−0.041%	$786K	$3.1M	50x	as long as short