Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.035%

Price spread now: SoDEX against Bybit+0.056%46s7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.280% of the position

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.047%−$5 on $10k

Price spread, last 3 days (all we have)+0.058%+$6 · spread now +0.056%, 7d avg +0.009%

Together, before fees+0.011%+$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: SoDEX is 0.047% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.009%. The two prices were read 46 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	Bybit AAVEUSDT	143.89	0.0100	pay 0.0100% / 8h	5h 54m	$61.5M	$63.8M	75x
Short	SoDEX AAVE-USD	143.97	0.0100	get 0.0013% / 1h	54m 35s	$5K	$291K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → +0.009%: $4.7
Slippage, 4 orders: −$9.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$23.32
Costs to cover: 0.280%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; SoDEX: live order book, 9 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, 4 min ago	0.35 bp	7.4 bp −$7	14.2 bp −$142	79.7 bp −$7,970	doesn't fit
Sell SoDEX live order book, 9 min ago	0.35 bp	5.1 bp −$5	9.2 bp −$92	96.5 bp −$9,652	doesn't fit

AAVE on 41 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
ApeX Omni AAVEUSDT	−0.0648%	1h	143.72	−0.118%	$134K	$219K	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0167%	1h	143.93	+0.028%	$244K	$370K	50x	as long as short
01 Exchange AAVEUSD	−0.0064%	1h	143.91	+0.014%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.99	+0.072%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.12	+0.160%	$72K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.00	+0.076%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.59	+0.486%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.816%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.86	−0.020%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	143.94	+0.035%	$18K	$10K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX AAVE-USDT-SWAP	+0.0088%	8h	143.84	−0.035%	$17.2M	$63.4M	50x	as long as short
MEXC AAVE_USDT	+0.0092%	8h	143.91	+0.014%	$26.4M	$23.4M	200x	as long as short
Binance AAVEUSDT	+0.0093%	8h	143.88	−0.007%	$64.9M	$180.9M	75x	as long as short
Lighter AAVE	+0.0096%	1h	144.13	+0.170%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.93	+0.025%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.94	+0.038%	$801K	$409K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.05	+0.111%	$77.9M	$35.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.95	+0.042%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.93	+0.026%	$328K	$433K	10x	as long as short
Bybit AAVEUSDTlong	+0.0100%	8h	143.89	long leg	$61.5M	$63.8M	75x
Arcus AAVE-USD	+0.0100%	1h	143.93	+0.028%	$44K	$181K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.04	+0.108%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.91	+0.014%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.00	+0.076%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.85	−0.028%	$29.9M	$17.1M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.92	+0.021%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.12	+0.160%	$322K	$716K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.60	+0.494%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.85	−0.029%	$104K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.82	−0.048%	$451K	$3.8M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.92	+0.021%	$125K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.94	+0.038%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USDshort	+0.0100%	1h	143.97	+0.056%	$5K	$291K	10x
HTX AAVE-USDT	+0.0100%	8h	144.28	+0.269%	$698K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.10	+0.146%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.86	−0.024%	$917K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.98	+0.062%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.97	+0.057%	$199K	$228K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0258% / S −0.0409%	1h	144.00	+0.075%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0267%	1h	144.10	+0.147%	$3.5M	$2.0M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	144.56	+0.466%	$777K	$2.8M	50x	as long as short