Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0134%/8h= −14.7% APRpaid last 24h −0.037%

Price spread now: Injective against BloFin−4.491%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.304%−$30 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Injective is 4.491% cheaper against BloFin than usual: you would sell low and buy high (−$449 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin AAVE-USDT	143.40	0.0167	pay 0.0167% / 8h	2h 05m	$3.4M	$5.3M	100x
Short	Injective AAVE/USDC PERP	136.96	0.0033	get 0.0004% / 1h	5m 53s	$422	$51K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −4.491%Rate

Funding earned: −$28.17
Price spread: −4.491% → 0.000%: −$449.09
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$489.28
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 3 min ago; Injective: no order-book sample. 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 BloFin live order book, 3 min ago	0.69 bp	6.9 bp −$7	13.1 bp −$131	29.3 bp −$2,931	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0168%	1h	143.51	+0.077%	$252K	$489K	50x	as long as short
SoDEX AAVE-USD	−0.0138%	1h	143.46	+0.042%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0096%	1h	143.38	−0.014%	$10K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.10	+0.488%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.54	+0.101%	$102K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.50	+0.070%	$70K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.47	+0.052%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	143.61	+0.147%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERPshort	+0.0033%	1h	136.96	−4.491%	$422	$51K	12x
Reya AAVERUSDPERP	+0.0044%	1h	143.36	−0.029%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0047%	8h	143.55	+0.105%	$30.9M	$26.4M	200x	as long as short
Binance AAVEUSDT	+0.0047%	8h	143.56	+0.109%	$65.3M	$185.3M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	143.38	−0.014%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0054%	8h	143.56	+0.112%	$17.3M	$65.9M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0056%	1h	144.02	+0.432%	$134K	$229K	50x	as long as short
Gate AAVE_USDT	+0.0061%	8h	143.58	+0.126%	$7.7M	$16.0M	75x	as long as short
Bulk AAVE-USD	+0.0073%	1h	143.97	+0.401%	$60K	$3K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0092%	8h	144.07	+0.467%	$450K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	143.74	+0.234%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	143.47	+0.049%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	143.46	+0.039%	$178K	$245K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.43	+0.018%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.41	+0.010%	$796K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.66	+0.181%	$79.4M	$33.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.64	+0.167%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.40	0.000%	$327K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.57	+0.119%	$61.1M	$65.5M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.41	+0.007%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.60	+0.139%	$10.2M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.54	+0.098%	$29.9M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.57	+0.119%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.66	+0.181%	$380K	$709K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.01	+0.426%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.06	+0.460%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.45	+0.035%	$125K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.37	−0.024%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.87	+0.330%	$714K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.56	+0.112%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.54	+0.100%	$919K	$1.8M	50x	as long as short
BloFin AAVE-USDTlong	+0.0167%	8h	143.40	long leg	$3.4M	$5.3M	100x
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	143.66	+0.181%	$770K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.45	+0.036%	$123K	—	100x	as long as short