Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.004%

Price spread now: dYdX against Bybit−0.038%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$329as in the Funding arb table

Net, price: spread back to 7d avg − costs−$329as in the Price arb table

costs, in and out, $10k−$3223.217% of the position

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)+0.102%+$10 · spread now −0.038%, 7d avg +0.035%

Together, before fees+0.030%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.074% cheaper against Bybit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAVEUSDT	143.60	0.0100	pay 0.0100% / 8h	2h 05m	$61.1M	$65.5M	75x
Short	dYdX AAVE-USD	143.54	0	get 0.0000% / 1h	5m 28s	$102K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bybit. 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 BybitbpFee dYdXbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$21
Price spread: −0.038% → +0.035%: −$7.35
Slippage, 4 orders: −$300.69
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$350.05
Costs to cover: 3.217%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; dYdX: live order book, 18 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 Bybit live order book, 3 min ago	0.35 bp	8.7 bp −$9	14.9 bp −$149	56.2 bp −$5,623	doesn't fit
Sell dYdX live order book, 18 min ago	146.85 bp	151.8 bp −$152	151.8 bp −$1,518	228.9 bp −$22.9K	510.5 bp −$255.2K

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	−0.063%	$252K	$489K	50x	as long as short
SoDEX AAVE-USD	−0.0138%	1h	143.46	−0.097%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0104%	1h	143.58	−0.014%	$10K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.10	+0.348%	$5K	$101K	10x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	143.54	−0.038%	$102K	$5K	10x
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	−0.088%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	143.61	+0.008%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.624%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.48	−0.084%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0046%	8h	143.57	−0.021%	$65.4M	$185.2M	75x	as long as short
MEXC AAVE_USDT	+0.0047%	8h	143.59	−0.007%	$30.9M	$26.4M	200x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	143.38	−0.153%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0054%	8h	143.55	−0.035%	$17.3M	$65.9M	50x	as long as short
Gate AAVE_USDT	+0.0062%	8h	143.58	−0.014%	$7.7M	$16.0M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0062%	1h	143.74	+0.097%	$134K	$229K	50x	as long as short
Bulk AAVE-USD	+0.0073%	1h	143.97	+0.261%	$60K	$3K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0092%	8h	144.07	+0.327%	$450K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	143.78	+0.127%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	143.47	−0.091%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	143.65	+0.033%	$179K	$245K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.63	+0.024%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.56	−0.028%	$797K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.69	+0.063%	$79.4M	$33.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.64	+0.028%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.59	−0.007%	$327K	$505K	10x	as long as short
Bybit AAVEUSDTlong	+0.0100%	8h	143.60	long leg	$61.1M	$65.5M	75x
Arcus AAVE-USD	+0.0100%	1h	143.58	−0.014%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.57	−0.021%	$10.2M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.47	−0.091%	$29.9M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.57	−0.021%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.66	+0.042%	$380K	$709K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.01	+0.286%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.06	+0.320%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.65	+0.035%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.37	−0.164%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.87	+0.190%	$714K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.56	−0.028%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.54	−0.040%	$919K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0167%	8h	143.40	−0.139%	$3.4M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	143.66	+0.042%	$770K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.45	−0.104%	$123K	—	100x	as long as short