Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0119%/8h= +13.0% APRpaid last 24h +0.023%

Price spread now: Coinbase International against BloFin+0.165%58s7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as 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−$420.423% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 3 days (all we have)−0.249%−$25 · spread now +0.165%, 7d avg +0.059%

Together, before fees−0.265%−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.106% dearer against BloFin than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.059%. The two prices were read 58 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	BloFin AAVE-USDT	145.77	0.0161	pay 0.0161% / 8h	24m 05s	$3.5M	$4.0M	100x
Short	Coinbase International AAVE-PERP-INTX	146.01	0.0280	get 0.0035% / 1h	24m 05s	$786K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now +0.165%Rate

Funding earned: $24.91
Price spread: +0.165% → +0.059%: $10.6
Slippage, 4 orders: −$20.27
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$6.76
Costs to cover: 0.423%
Break-even: 8.9 days

Slippage from BloFin: live order book, 4 min ago; Coinbase International: live order book, 5 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 BloFin live order book, 4 min ago	1.03 bp	8.8 bp −$9	13.6 bp −$136	29.8 bp −$2,984	doesn't fit
Sell Coinbase International live order book, 5 min ago	4.10 bp	12.4 bp −$12	16.4 bp −$164	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	−0.0093%	1h	145.57	−0.137%	$254K	$394K	50x	as long as short
SoDEX AAVE-USD	−0.0065%	1h	145.56	−0.144%	$5K	$305K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	145.94	+0.117%	$5K	$99K	10x	as long as short
01 Exchange AAVEUSD	−0.0008%	1h	145.60	−0.117%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.62	−0.103%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.70	−0.048%	$83K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	145.66	−0.074%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.66	−0.073%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.044%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0041%	8h	145.57	−0.137%	$29.9M	$25.9M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0041%	8h	145.58	−0.130%	$66.3M	$186.2M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.56	−0.145%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0053%	8h	145.58	−0.130%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0073%	8h	145.58	−0.130%	$7.9M	$15.9M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0074%	8h	145.58	−0.130%	$17.9M	$67.5M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.61	−0.113%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.80	+0.021%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.58	−0.128%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.54	−0.154%	$801K	$442K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.74	−0.021%	$80.4M	$34.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.68	−0.059%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.64	−0.092%	$332K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.59	−0.123%	$62.1M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.58	−0.130%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.07	+0.206%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.59	−0.123%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.53	−0.165%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.60	−0.117%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.67	−0.069%	$347K	$745K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.07	+0.205%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.08	+0.211%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.03	+0.180%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.07	+0.206%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.64	−0.089%	$127K	$456K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.57	−0.134%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.73	−0.026%	$689K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.62	−0.103%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.52	−0.171%	$935K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	145.62	−0.102%	$185K	$246K	10x	as long as short
BloFin AAVE-USDTlong	+0.0161%	8h	145.77	long leg	$3.5M	$4.0M	100x
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.66	−0.074%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXshort	+0.0280%	1h	146.01	+0.165%	$786K	$3.0M	50x