AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.030%

Price spread now: dYdX against Backpack−0.073%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$338as in the Funding arb table

Net, price: spread back to 7d avg − costs−$326as in the Price arb table

costs, in and out, $10k−$3193.186% of the position

Long on Backpack Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.197%−$20 on $10k

Price spread, last 4 days (all we have)+0.171%+$17 · spread now −0.073%, 7d avg +0.001%

Together, before fees−0.026%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.074% cheaper against Backpack than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	144.67	0.0100	pay 0.0013% / 1h	32m 24s	$380K	$713K	10x
Short	dYdX AAVE-USD	144.56	0	get 0.0000% / 1h	32m 24s	$103K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Backpack. 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 BackpackbpFee dYdXbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$21
Price spread: −0.073% → +0.001%: −$7.36
Slippage, 4 orders: −$298.57
Fee Backpack: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$346.94
Costs to cover: 3.186%
Break-even: never at this rate

Slippage from Backpack: live order book, 51 min ago; dYdX: live order book, 51 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 Backpack live order book, 51 min ago	0.35 bp	8.2 bp −$8	143.5 bp −$1,435	doesn't fit	doesn't fit
Sell dYdX live order book, 51 min ago	146.85 bp	151.8 bp −$152	151.8 bp −$1,518	228.9 bp −$22.9K	510.5 bp −$255.2K

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	−0.0168%	1h	144.41	−0.180%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0165%	1h	144.45	−0.152%	$254K	$480K	50x	as long as short
SoDEX AAVE-USD	−0.0067%	1h	144.45	−0.152%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0045%	1h	144.94	+0.187%	$5K	$100K	10x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	144.56	−0.073%	$103K	$5K	10x
Kalshi KXAAVEPERP	0.0000%	8h	144.57	−0.069%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.48	−0.134%	$70K	—	150x	as long as short
MEXC AAVE_USDT	+0.0033%	8h	144.37	−0.207%	$30.9M	$25.8M	200x	as long as short
Binance AAVEUSDT	+0.0033%	8h	144.40	−0.187%	$65.7M	$185.7M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.329%	$422	$51K	12x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	144.27	−0.273%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.50	−0.120%	$180K	$246K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	144.41	−0.180%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0050%	8h	144.45	−0.152%	$17.5M	$66.7M	50x	as long as short
Gate AAVE_USDT	+0.0051%	8h	144.39	−0.194%	$7.8M	$15.9M	75x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	144.56	−0.075%	$3.5M	$2.1M	50x	as long as short
Bulk AAVE-USD	+0.0080%	1h	144.69	+0.011%	$61K	$3K	10x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.53	−0.100%	$122K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	144.70	+0.023%	$456K	$3.8M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.68	+0.005%	$4.6M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.46	−0.142%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.38	−0.197%	$799K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.42	−0.173%	$79.3M	$34.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.51	−0.110%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.49	−0.123%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.40	−0.187%	$61.3M	$65.7M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.45	−0.152%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.38	−0.200%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.42	−0.173%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.38	−0.200%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPlong	+0.0100%	1h	144.67	long leg	$380K	$713K	10x
Variational Omni AAVE	+0.0100%	8h	144.61	−0.043%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.66	−0.009%	$103K	$315K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.57	−0.069%	$134K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.37	−0.207%	$126K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.38	−0.198%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.81	+0.100%	$694K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.57	−0.069%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.42	−0.173%	$931K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0133%	8h	144.66	−0.007%	$3.4M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	144.45	−0.151%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	144.64	−0.021%	$783K	$3.0M	50x	as long as short