Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.048%

Price spread now: Coinbase International against Bitget−0.311%47s7-day average +0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as 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−$450.454% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.182%+$18 on $10k

Price spread, last 3 days (all we have)+0.559%+$56 · spread now −0.311%, 7d avg +0.084%

Together, before fees+0.742%+$74 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.395% cheaper against Bitget than usual: you would sell low and buy high (spread −0.311% now, against its 7-day average of +0.084%). If the spread goes back, that is −$40 on $10k: about 8.9 days of funding at the current rate (+$4 a day). The two prices were read 47 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	144.81	0.0100	pay 0.0100% / 8h	2h 27m	$30.2M	$18.2M	75x
Short	Coinbase International AAVE-PERP-INTX	144.36	0.0248	get 0.0031% / 1h	27m 33s	$777K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.311%Rate

Funding earned: $31.08
Price spread: −0.311% → +0.084%: −$39.52
Slippage, 4 orders: −$23.43
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$53.87
Costs to cover: 0.454%
Break-even: 19.1 days

Slippage from Bitget: live order book, 1 min ago; Coinbase International: live order book, 1 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, 1 min ago	0.35 bp	10.0 bp −$10	17.8 bp −$178	54.1 bp −$5,414	doesn't fit
Sell Coinbase International live order book, 1 min ago	6.22 bp	13.8 bp −$14	18.7 bp −$187	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	−0.0442%	1h	144.47	−0.235%	$249K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0188%	1h	144.44	−0.256%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.84	+0.021%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.43	−0.262%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.66	−0.107%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.52	−0.200%	$71K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.56	−0.169%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.60	−0.148%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.421%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0041%	1h	144.40	−0.283%	$134K	$229K	50x	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	144.81	−0.002%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0051%	8h	144.77	−0.028%	$17.5M	$66.1M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0053%	8h	144.47	−0.235%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0055%	8h	144.64	−0.117%	$7.7M	$15.8M	75x	as long as short
Binance AAVEUSDT	+0.0060%	8h	144.77	−0.030%	$65.9M	$183.7M	75x	as long as short
MEXC AAVE_USDT	+0.0061%	8h	144.65	−0.110%	$31.6M	$26.3M	200x	as long as short
Nado AAVE-PERP	+0.0087%	1h	144.81	+0.003%	$803K	$436K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0092%	8h	144.45	−0.246%	$455K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.86	+0.032%	$4.7M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.51	−0.208%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.83	+0.011%	$180K	$241K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.69	−0.084%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.80	−0.007%	$80.4M	$33.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.67	−0.094%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.69	−0.085%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.78	−0.021%	$61.6M	$65.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.77	−0.028%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.30	−0.355%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.71	−0.069%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDTlong	+0.0100%	8h	144.81	long leg	$30.2M	$18.2M	75x
BingX AAVE-USDC	+0.0100%	8h	144.67	−0.097%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.64	−0.117%	$378K	$701K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.45	−0.250%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.36	−0.309%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.86	+0.035%	$127K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.53	−0.192%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.60	−0.144%	$723K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.54	−0.186%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.63	−0.122%	$928K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0182%	8h	144.48	−0.228%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTXshort	+0.0248%	1h	144.36	−0.311%	$777K	$3.0M	50x
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.56	−0.171%	$124K	—	100x	as long as short