Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0473%/8h= −51.8% APRpaid last 24h −0.301%

Price spread now: Deribit against BingX+0.035%7-day average −0.012% · you sell dearer than you buy

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

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.474%−$47 on $10k

Price spread, last 3 days (all we have)+0.275%+$28 · spread now +0.035%, 7d avg −0.012%

Together, before fees−0.199%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.047% dearer against BingX than usual: you sell high and buy low (spread +0.035% now, against its 7-day average of −0.012%): +$5 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.474% in total) that is about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AAVE-USDT	144.40	0.0100	pay 0.0100% / 8h	2h 22m	—	$43.9M	—
Short	Deribit AAVE_USDC-PERPETUAL	144.45	−0.0373	pay 0.0047% / 1h	22m 00s	$249K	$483K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$99.33
Price spread: +0.035% → −0.012%: $4.66
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$111.67
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 2 min ago; Deribit: live order book, 62 min ago. 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 BingX live order book, 2 min ago	0.69 bp	5.7 bp −$6	5.7 bp −$57	17.9 bp −$1,787	45.3 bp −$22.6K
Sell Deribit live order book, 62 min ago	14.23 bp	17.7 bp −$18	doesn't fit	doesn't fit	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
Deribit AAVE_USDC-PERPETUALshort	−0.0373%	1h	144.45	+0.035%	$249K	$483K	50x
SoDEX AAVE-USD	−0.0192%	1h	144.41	+0.007%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0128%	1h	144.38	−0.014%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.80	+0.277%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.47	+0.049%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.40	0.000%	$71K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.52	+0.084%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.52	+0.084%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.152%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.45	+0.038%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni AAVEUSDT	+0.0047%	1h	144.75	+0.242%	$135K	$229K	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0051%	8h	144.29	−0.076%	$17.4M	$66.0M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	144.41	+0.007%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0052%	8h	144.40	0.000%	$7.7M	$15.9M	75x	as long as short
Binance AAVEUSDT	+0.0054%	8h	144.32	−0.056%	$65.7M	$184.4M	75x	as long as short
MEXC AAVE_USDT	+0.0056%	8h	144.38	−0.014%	$31.4M	$26.3M	200x	as long as short
Nado AAVE-PERP	+0.0091%	1h	144.34	−0.042%	$801K	$436K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0092%	8h	144.76	+0.248%	$456K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.62	+0.150%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.46	+0.042%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.42	+0.016%	$180K	$243K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.39	−0.005%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.51	+0.076%	$80.3M	$33.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.51	+0.079%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.39	−0.004%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.35	−0.035%	$61.4M	$65.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.39	−0.007%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.30	−0.072%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.47	+0.048%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.35	−0.035%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDTlong	+0.0100%	8h	144.40	long leg	—	$43.9M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.53	+0.090%	$377K	$704K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.87	+0.325%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.67	+0.188%	$101K	$312K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.54	+0.097%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.44	+0.028%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.75	+0.245%	$720K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.45	+0.035%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.40	−0.002%	$931K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0176%	8h	144.42	+0.014%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.36	−0.028%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.54	+0.094%	$124K	—	100x	as long as short