Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0167%/8h= +18.3% APRpaid last 24h −0.048%

Price spread now: Kraken Futures against BingX+0.264%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$360.363% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 4 days (all we have)+0.225%+$22 · spread now +0.264%, 7d avg +0.040%

Together, before fees+0.082%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kraken Futures is 0.223% dearer against BingX than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.040%. Mind the row above: over the last 7 days funding on this pair cost −0.143%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AAVE-USDT	143.39	0.0100	pay 0.0100% / 8h	5h 09m	—	$43.8M	—
Short	Kraken Futures PF_AAVEUSD	143.77	0.0267	get 0.0033% / 1h	9m 31s	$3.5M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.264%Rate

Funding earned: $35.15
Price spread: +0.264% → +0.040%: $22.35
Slippage, 4 orders: −$16.25
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $21.24
Costs to cover: 0.363%
Break-even: 2.8 days

Slippage from BingX: live order book, 9 min ago; Kraken Futures: live order book, 4 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 BingX live order book, 9 min ago	0.35 bp	5.3 bp −$5	6.8 bp −$68	15.7 bp −$1,569	42.5 bp −$21.2K
Sell Kraken Futures live order book, 4 min ago	4.86 bp	11.1 bp −$11	19.6 bp −$196	126.7 bp −$12.7K	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
01 Exchange AAVEUSD	−0.0048%	1h	143.35	−0.028%	$10K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0028%	1h	143.64	+0.174%	$228K	$389K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.45	+0.040%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.80	+0.286%	$59K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.38	−0.006%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.484%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.29	−0.068%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	143.67	+0.195%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0057%	1h	143.35	−0.028%	$828K	$433K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	143.75	+0.251%	$5K	$98K	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	143.56	+0.115%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.39	0.000%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.46	+0.049%	$77.6M	$34.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.54	+0.106%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.40	+0.006%	$326K	$434K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.34	−0.032%	$64.1M	$182.6M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.38	−0.007%	$61.2M	$64.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.32	−0.049%	$17.2M	$63.2M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.39	0.000%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.07	+0.477%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.39	0.000%	$7.8M	$15.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.35	−0.028%	$25.9M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.42	+0.021%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.32	−0.049%	$30.0M	$17.4M	75x	as long as short
BingX AAVE-USDTlong	+0.0100%	8h	143.39	long leg	—	$43.8M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.66	+0.188%	$320K	$691K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.66	+0.186%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.67	+0.194%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.74	+0.245%	$451K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.90	+0.356%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.38	−0.007%	$128K	$422K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.84	+0.314%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.66	+0.188%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.80	+0.287%	$692K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.64	+0.174%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.32	−0.050%	$913K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.60	+0.143%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.42	+0.023%	$184K	$237K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.92	+0.370%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	143.72	+0.234%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSDshort	+0.0267%	1h	143.77	+0.264%	$3.5M	$2.1M	50x
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	143.93	+0.377%	$782K	$2.8M	50x	as long as short