Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0011%/8h= −1.3% APRpaid last 24h −0.021%

Price spread now: Phoenix against Aster+0.213%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Phoenix is 0.213% dearer against Aster than usual: you sell high and buy low (spread +0.213% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster AAVEUSDT	143.24	0.0100	pay 0.0100% / 8h	5h 39m	$1.3M	$1.2M	50x
Short	Phoenix AAVE	143.55	0.0089	get 0.0011% / 1h	39m 07s	$5K	$98K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.213%Rate

Funding earned: −$2.4
Price spread: +0.213% → 0.000%: $21.34
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $3.94
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Aster: live order book, 4 min ago; Phoenix: no order-book sample. Net counts fees only.

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, 4 min ago	4.17 bp	10.6 bp −$11	32.7 bp −$327	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
01 Exchange AAVEUSD	−0.0064%	1h	143.24	−0.003%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.34	+0.068%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.34	+0.067%	$59K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.16	−0.059%	$238K	$377K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.20	−0.031%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.387%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	143.15	−0.066%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.22	−0.017%	—	—	20x	as long as short
Phoenix AAVEshort	+0.0089%	1h	143.55	+0.213%	$5K	$98K	10x
Nado AAVE-PERP	+0.0094%	1h	143.26	+0.009%	$831K	$431K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	143.33	+0.057%	$4.6M	$1.5M	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0097%	8h	143.18	−0.045%	$17.1M	$63.2M	50x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.27	+0.019%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.29	+0.032%	$77.5M	$35.3M	10x	as long as short
Aster AAVEUSDTlong	+0.0100%	8h	143.24	long leg	$1.3M	$1.2M	50x
Pacifica AAVE	+0.0100%	1h	143.33	+0.062%	$327K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.22	−0.015%	$64.2M	$182.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.24	−0.003%	$61.2M	$64.2M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.27	+0.018%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.56	+0.218%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.24	−0.003%	$7.9M	$15.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.14	−0.073%	$25.9M	$23.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.23	−0.010%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.18	−0.045%	$30.0M	$17.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.20	−0.031%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.25	+0.004%	$319K	$718K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.49	+0.169%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.52	+0.190%	$103K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.78	+0.374%	$456K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.78	+0.374%	$134K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.28	+0.025%	$125K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.22	−0.016%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.13	−0.080%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.25	+0.001%	$692K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.23	−0.010%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.11	−0.093%	$913K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.21	−0.026%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.30	+0.036%	$191K	$233K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.11	−0.094%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	143.18	−0.047%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0268%	1h	143.24	−0.001%	$3.5M	$2.0M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	143.47	+0.158%	$776K	$2.8M	50x	as long as short