AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.023%

Price spread now: Phoenix against Arcus+0.239%49s7-day average +0.054% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.429% of the position

Long on Arcus Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.033%−$3 on $10k

Price spread, last 3 days (all we have)−0.093%−$9 · spread now +0.239%, 7d avg +0.054%

Together, before fees−0.126%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.185% dearer against Arcus than usual: you sell high and buy low (spread +0.239% now, against its 7-day average of +0.054%): +$19 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.2 days. At the pace of the last 3 days (−0.033% in total) that is about 20 days. The two prices were read 49 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	Arcus AAVE-USD	146.16	0.0100	pay 0.0013% / 1h	7m 55s	$46K	$275K	10x
Short	Phoenix AAVE	146.51	0	get 0.0000% / 1h	7m 55s	$5K	$102K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.239%Rate

Funding earned: −$21
Price spread: +0.239% → +0.054%: $18.51
Slippage, 4 orders: −$31.36
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$45.34
Costs to cover: 0.429%
Break-even: never at this rate

Slippage from Arcus: live order book, 65 min ago; Phoenix: live order book, 45 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, 65 min ago	2.05 bp	8.3 bp −$8	23.8 bp −$238	doesn't fit	doesn't fit
Sell Phoenix live order book, 45 min ago	0.69 bp	13.8 bp −$14	46.2 bp −$462	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.36	+0.139%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0144%	1h	146.16	0.000%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0056%	1h	146.27	+0.075%	$5K	$302K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.19	+0.019%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.16	0.000%	$70K	$1.5M	3.4x	as long as short
Phoenix AAVEshort	0.0000%	1h	146.51	+0.239%	$5K	$102K	10x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	146.30	+0.096%	$255K	$367K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.34	+0.122%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0024%	8h	146.14	−0.014%	$28.6M	$25.9M	200x	as long as short
Binance AAVEUSDT	+0.0026%	8h	146.15	−0.009%	$66.2M	$183.3M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.294%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	146.27	+0.075%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.25	+0.060%	—	—	20x	as long as short
ApeX Omni AAVEUSDT	+0.0047%	1h	146.25	+0.062%	$136K	$231K	50x	as long as short
Phemex AAVEUSDT	+0.0051%	8h	146.21	+0.034%	$4.2M	$3.8M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0065%	8h	146.13	−0.021%	$17.9M	$66.2M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.33	+0.116%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.40	+0.167%	$4.7M	$1.5M	10x	as long as short
BloFin AAVE-USDT	+0.0099%	8h	146.54	+0.260%	$3.5M	$3.5M	100x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.16	+0.002%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.11	−0.034%	$799K	$422K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.23	+0.050%	$79.7M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.36	+0.138%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.20	+0.026%	$334K	$469K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.12	−0.027%	$62.6M	$64.8M	75x	as long as short
Arcus AAVE-USDlong	+0.0100%	1h	146.16	long leg	$46K	$275K	10x
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.256%	$59K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	146.15	−0.007%	$7.9M	$15.3M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.28	+0.082%	$11.0M	$9.0M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.07	−0.062%	$30.3M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.15	−0.007%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.22	+0.041%	$334K	$742K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.27	+0.076%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.26	+0.071%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.39	+0.157%	$466K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.27	+0.075%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.28	+0.085%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.39	+0.159%	$711K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.10	−0.040%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.18	+0.017%	$185K	$245K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	146.34	+0.122%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.42	+0.178%	$784K	$2.9M	50x	as long as short