Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Backpack against Aster+0.159%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$380.376% of the position

Long on Aster Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.232%−$23 · spread now +0.159%, 7d avg −0.001%

Together, before fees−0.216%+ Points / potential airdropAster: Stage 5 · farm board−$22 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 0.159% dearer against Aster than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster AAVEUSDT	144.43	0.0100	pay 0.0100% / 8h	6h 30m	$1.3M	$1.2M	50x
Short	Backpack AAVE_USDC_PERP	144.66	0.0100	get 0.0013% / 1h	30m 09s	$325K	$746K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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 AsterbpFee BackpackbpOrdersPrice spread, now +0.159%Rate

Funding earned: $0
Price spread: +0.159% → −0.001%: $15.92
Slippage, 4 orders: −$19.62
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$21.7
Costs to cover: 0.376%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; Backpack: live order book, 39 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 Aster live order book, 3 min ago	3.82 bp	10.6 bp −$11	28.0 bp −$280	doesn't fit	doesn't fit
Sell Backpack live order book, 39 min ago	1.03 bp	7.4 bp −$7	375.8 bp −$3,758	doesn't fit	doesn't fit

AAVE on 41 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
01 Exchange AAVEUSD	−0.0056%	1h	144.40	−0.021%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.61	+0.121%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.24	−0.133%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.16	−0.188%	$70K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.51	+0.055%	$251K	$362K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.45	+0.015%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.01	−0.291%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.173%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.50	+0.048%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.39	−0.027%	—	—	20x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0052%	8h	144.53	+0.069%	$27.0M	$24.9M	200x	as long as short
Binance AAVEUSDT	+0.0053%	8h	144.52	+0.063%	$65.1M	$184.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0070%	8h	144.51	+0.055%	$17.4M	$65.6M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.44	+0.006%	$187K	$230K	10x	as long as short
Gate AAVE_USDT	+0.0091%	8h	144.53	+0.069%	$7.8M	$15.2M	75x	as long as short
Lighter AAVE	+0.0096%	1h	144.69	+0.182%	$4.7M	$1.5M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.50	+0.048%	$122K	$146	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.20	−0.157%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.35	−0.056%	$803K	$425K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.66	+0.159%	$78.4M	$35.6M	10x	as long as short
Aster AAVEUSDTlong	+0.0100%	8h	144.43	long leg	$1.3M	$1.2M	50x
Pacifica AAVE	+0.0100%	1h	144.27	−0.111%	$329K	$436K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.55	+0.082%	$61.9M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.42	−0.008%	$45K	$181K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.50	−0.647%	$58K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.50	+0.048%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.52	+0.062%	$30.0M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.54	+0.075%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	144.66	+0.159%	$325K	$746K	10x
Variational Omni AAVE	+0.0100%	8h	144.14	−0.200%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.91	−0.362%	$104K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.87	−0.386%	$452K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.98	−0.312%	$134K	$230K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.46	+0.020%	$125K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.50	+0.045%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.50	+0.048%	$5K	$298K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.86	+0.300%	$702K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.44	+0.006%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.44	+0.007%	$917K	$1.7M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0237% / S −0.0361%	1h	144.45	+0.015%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.51	+0.055%	$774K	$2.8M	50x	as long as short