Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: Backpack against Bitget+0.103%59s7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as 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−$360.357% of the position

Long on Bitget Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now +0.103%, 7d avg +0.031%

Together, before fees−0.012%−$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.072% dearer against Bitget than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.031%. The two prices were read 59 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	Bitget AAVEUSDT	145.25	0.0100	pay 0.0100% / 8h	2h 48m	$30.3M	$18.2M	75x
Short	Backpack AAVE_USDC_PERP	145.40	0.0100	get 0.0013% / 1h	48m 16s	$382K	$703K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now +0.103%Rate

Funding earned: $0
Price spread: +0.103% → +0.031%: $7.21
Slippage, 4 orders: −$13.66
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$28.46
Costs to cover: 0.357%
Break-even: never at this rate

Slippage from Bitget: live order book, 6 min ago; Backpack: live order book, 40 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 Bitget live order book, 6 min ago	0.69 bp	10.0 bp −$10	15.5 bp −$155	72.6 bp −$7,256	doesn't fit
Sell Backpack live order book, 40 min ago	0.68 bp	8.5 bp −$9	94.6 bp −$946	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-PERPETUAL	−0.0369%	1h	145.25	0.000%	$250K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0158%	1h	145.25	0.000%	$5K	$311K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.22	−0.021%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	145.11	−0.096%	$4K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.30	+0.036%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.28	+0.021%	$74K	$1.6M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.32	+0.048%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	145.43	+0.125%	$3.5M	$2.0M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0019%	1h	145.02	−0.158%	$135K	$229K	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.707%	$422	$51K	12x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	145.24	−0.006%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	145.22	−0.021%	$17.7M	$65.7M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0058%	8h	145.24	−0.007%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0064%	8h	145.24	−0.007%	$7.8M	$15.6M	75x	as long as short
Nado AAVE-PERP	+0.0065%	1h	145.24	−0.010%	$806K	$445K	10x	as long as short
MEXC AAVE_USDT	+0.0079%	8h	145.22	−0.021%	$32.3M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0079%	8h	145.21	−0.025%	$66.0M	$181.8M	75x	as long as short
Lighter AAVE	+0.0096%	1h	145.43	+0.123%	$4.7M	$1.6M	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	145.30	+0.033%	$181K	$242K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.33	+0.057%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.37	+0.084%	$81.2M	$32.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.32	+0.050%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.36	+0.077%	$331K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.26	+0.007%	$61.9M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.29	+0.028%	$51K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.14	−0.078%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.24	−0.007%	$10.3M	$8.5M	75x	as long as short
Bitget AAVEUSDTlong	+0.0100%	8h	145.25	long leg	$30.3M	$18.2M	75x
BingX AAVE-USDC	+0.0100%	8h	145.27	+0.014%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	145.40	+0.103%	$382K	$703K	10x
Variational Omni AAVE	+0.0100%	8h	144.98	−0.189%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.27	+0.013%	$100K	$312K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.95	−0.208%	$459K	$4.1M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.30	+0.034%	$127K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.18	−0.045%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.45	+0.140%	$738K	$4.8M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.24	−0.007%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.24	−0.006%	$936K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	145.29	+0.028%	$123K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0200%	8h	145.11	−0.096%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	145.44	+0.131%	$782K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	145.32	+0.047%	$125K	—	100x	as long as short