AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0097%/8h= −10.7% APRnext payment −$0.12 per $10,000 · paid last 24h −0.045%

Price spread now: SoDEX against Backpack−0.111%7-day average −0.033% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on Backpack Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.089%−$9 on $10k

Price spread, last 4 days (all we have)+0.399%+$40 · spread now −0.111%, 7d avg −0.033%

Together, before fees+0.310%+$31 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 SoDEX is 0.078% cheaper against Backpack than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	143.98	0.0197	pay 0.0025% / 1h	50m 45s	$338K	$720K	10x
Short	SoDEX AAVE-USD	143.82	0.0100	get 0.0013% / 1h	50m 45s	$5K	$312K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.111%Rate

Funding earned: −$20.45
Price spread: −0.111% → −0.033%: −$7.81
Slippage, 4 orders: −$6.84
Fee Backpack: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$53.1
Costs to cover: 0.248%
Break-even: never at this rate

Slippage from Backpack: live order book, 3 min ago; SoDEX: live order book, 3 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, 3 min ago	0.35 bp	8.1 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX live order book, 3 min ago	0.35 bp	5.2 bp −$5	9.6 bp −$96	98.9 bp −$9,886	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
dYdX AAVE-USD	0.0000%	1h	143.87	−0.075%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.69	−0.201%	$54K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.84	−0.097%	$220K	$402K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.87	−0.076%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.876%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.99	+0.007%	$4K	$106K	10x	as long as short
Phemex AAVEUSDT	+0.0040%	8h	143.86	−0.083%	$4.0M	$3.7M	50x	as long as short
Nado AAVE-PERP	+0.0044%	1h	143.82	−0.111%	$846K	$396K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.83	−0.103%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	143.85	−0.090%	$18K	$10K	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	143.94	−0.029%	$4.6M	$2.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.81	−0.118%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.94	−0.028%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.83	−0.103%	$329K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.81	−0.116%	$64.3M	$187.8M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.82	−0.111%	$61.9M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.80	−0.125%	$17.2M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.92	−0.042%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.81	−0.118%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.83	−0.104%	$8.1M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.84	−0.097%	$25.0M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.80	−0.125%	$10.6M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.76	−0.153%	$29.3M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.79	−0.132%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.84	−0.097%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.82	−0.111%	$104K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.88	−0.070%	$458K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.84	−0.097%	$134K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.90	−0.056%	$128K	$443K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.81	−0.121%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USDshort	+0.0100%	1h	143.82	−0.111%	$5K	$312K	10x
HTX AAVE-USDT	+0.0100%	8h	143.96	−0.014%	$692K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.75	−0.163%	$911K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.88	−0.072%	$122K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	143.89	−0.063%	$11K	$2K	5x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.87	−0.075%	$186K	$251K	10x	as long as short
Backpack AAVE_USDC_PERPlong	+0.0197%	1h	143.98	long leg	$338K	$720K	10x
BloFin AAVE-USDT	+0.0220%	8h	143.75	−0.160%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0246%	1h	143.86	−0.084%	$3.5M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.87	−0.076%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	144.18	+0.139%	$791K	$2.8M	50x	as long as short
Hyperliquid AAVE	+0.0408%	1h	144.08	+0.069%	$79.2M	$36.7M	10x	as long as short