Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h −0.025%

Price spread now: Gate against Backpack−0.014%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$440.441% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.014%, 7d avg −0.019%

Together, before fees−0.079%−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	145.77	0.0100	pay 0.0013% / 1h	7m 57s	$346K	$744K	10x
Short	Gate AAVE_USDT	145.75	0.0074	get 0.0074% / 8h	7m 57s	$7.9M	$15.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.014%Rate

Funding earned: −$5.46
Price spread: −0.014% → −0.019%: $0.55
Slippage, 4 orders: −$19.07
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$48.98
Costs to cover: 0.441%
Break-even: never at this rate

Slippage from Backpack: live order book, 6 min ago; Gate: live order book, 1 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, 6 min ago	0.34 bp	6.4 bp −$6	74.9 bp −$749	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.40 bp	14.4 bp −$14	28.9 bp −$289	43.9 bp −$4,387	49.5 bp −$24.8K

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
SoDEX AAVE-USD	−0.0121%	1h	145.77	0.000%	$5K	$305K	10x	as long as short
01 Exchange AAVEUSD	−0.0048%	1h	145.55	−0.151%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0027%	1h	145.87	+0.069%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	145.85	+0.055%	$255K	$391K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.71	−0.044%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.73	−0.027%	$83K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	145.92	+0.105%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.00	+0.161%	$71K	—	150x	as long as short
Binance AAVEUSDT	+0.0030%	8h	145.65	−0.082%	$66.4M	$187.4M	75x	as long as short
MEXC AAVE_USDT	+0.0031%	8h	145.62	−0.103%	$29.7M	$26.1M	200x	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	−6.044%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.89	+0.082%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	145.81	+0.027%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0067%	8h	145.63	−0.096%	$17.9M	$67.5M	50x	as long as short
Gate AAVE_USDTshort	+0.0074%	8h	145.75	−0.014%	$7.9M	$15.9M	75x
Aevo AAVE-PERP	+0.0088%	1h	145.81	+0.027%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.99	+0.148%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.55	−0.150%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.79	+0.014%	$802K	$445K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.84	+0.048%	$80.4M	$34.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.80	+0.022%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.60	−0.117%	$332K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.63	−0.096%	$62.1M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.53	−0.165%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.59	−0.125%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.65	−0.082%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.57	−0.137%	$30.2M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.66	−0.075%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERPlong	+0.0100%	1h	145.77	long leg	$346K	$744K	10x
Variational Omni AAVE	+0.0100%	8h	145.93	+0.112%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.13	+0.247%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.99	+0.150%	$466K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.12	+0.240%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.96	+0.130%	$128K	$455K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.81	+0.029%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.97	+0.137%	$690K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.87	+0.069%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.59	−0.122%	$935K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	145.56	−0.141%	$184K	$247K	10x	as long as short
BloFin AAVE-USDT	+0.0124%	8h	145.62	−0.103%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0438%	1h	146.00	+0.157%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	145.91	+0.096%	$786K	$3.0M	50x	as long as short