Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.009%

Price spread now: dYdX against Binance+0.177%49s7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$313as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3013.007% of the position

Long on Binance Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.125%−$13 on $10k

Price spread, last 4 days (all we have)−0.161%−$16 · spread now +0.177%, 7d avg +0.006%

Together, before fees−0.287%−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.171% dearer against Binance than usual: you sell high and buy low (spread +0.177% now, against its 7-day average of +0.006%): +$17 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.7 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AAVEUSDT	142.06	0.0100	pay 0.0100% / 8h	1h 04m	$63.8M	$188.5M	75x
Short	dYdX AAVE-USD	142.31	0	get 0.0000% / 1h	4m 51s	$102K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Binance. 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 BinancebpFee dYdXbpOrdersPrice spread, now +0.177%Rate

Funding earned: −$21
Price spread: +0.177% → +0.006%: $17.12
Slippage, 4 orders: −$280.75
Fee Binance: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$304.63
Costs to cover: 3.007%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; dYdX: 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 Binance live order book, 8 min ago	0.35 bp	7.9 bp −$8	11.8 bp −$118	34.6 bp −$3,460	doesn't fit
Sell dYdX live order book, 39 min ago	69.69 bp	212.1 bp −$212	213.2 bp −$2,132	213.4 bp −$21.3K	233.7 bp −$116.9K

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-USDshort	0.0000%	1h	142.31	+0.177%	$102K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	142.13	+0.052%	$51K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.09	+0.024%	$215K	$398K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.10	+0.031%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.587%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.05	−0.006%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0071%	1h	142.07	+0.010%	$827K	$396K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0080%	8h	142.06	+0.003%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.50	+0.313%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.21	+0.111%	$4.5M	$2.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.14	+0.059%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.16	+0.071%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.20	+0.099%	$325K	$384K	10x	as long as short
Binance AAVEUSDTlong	+0.0100%	8h	142.06	long leg	$63.8M	$188.5M	75x
Bybit AAVEUSDT	+0.0100%	8h	142.05	−0.004%	$61.4M	$67.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.06	+0.003%	$17.0M	$64.0M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.20	+0.102%	$63K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.35	+0.207%	$161K	$103K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.11	+0.038%	$8.0M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.07	+0.010%	$24.3M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.11	+0.038%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.03	−0.018%	$29.0M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.19	+0.094%	—	$43.4M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.26	+0.144%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.14	+0.057%	$107K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.20	+0.101%	$451K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.13	+0.052%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.16	+0.073%	$141K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.09	+0.021%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.06	+0.003%	$5K	$285K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.52	+0.325%	$674K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.12	+0.045%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.01	−0.033%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.09	+0.028%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	142.14	+0.059%	$10K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0162%	1h	142.23	+0.121%	$77.8M	$36.9M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0168%	1h	142.20	+0.102%	$390K	$727K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.09	+0.024%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.10	+0.031%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.16	+0.076%	$189K	$270K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.29	+0.165%	$755K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0317%	1h	142.20	+0.104%	$3.4M	$2.1M	50x	as long as short