Funding you earn now, next payment 02:00 UTC−0.0236%/8h= −25.8% APRnext payment −$0.29 per $10,000 · paid last 24h −0.046%
Price spread now: Backpack against Coinbase International−0.056%52s7-day average −0.050% · you buy dearer than you sell
Net, funding: paid 7d − costs−$55as 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−$400.400% of the position
Funding, last 7 days−0.148%−$15 on $10k
+Price spread, last 4 days (all we have)−0.305%−$31 · spread now −0.056%, 7d avg −0.050%
=The price spread sits at its 7-day average of −0.050%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.148% in total (about -7.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.29 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International AAVE-PERP-INTX | 143.58 | 0.0336 | pay 0.0042% / 1h | 40m 23s | $777K | $2.8M | 50x |
| Short | Backpack AAVE_USDC_PERP | 143.50 | 0.0100 | get 0.0013% / 1h | 40m 23s | $320K | $718K | 10x |
Coinbase International AAVE-PERP-INTX
Backpack AAVE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Coinbase International. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$49.56
- Price spread: −0.056% → −0.050%
- −$0.57
- Slippage, 4 orders
- −$19.97
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$90.1
- Costs to cover
- 0.400%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 3 min ago; Backpack: live order book, 23 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 Coinbase International live order book, 3 min ago | 4.52 bp | 11.5 bp −$12 | 15.8 bp −$158 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 23 min ago | 0.35 bp | 7.6 bp −$8 | 182.9 bp −$1,829 | 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange AAVEUSD | −0.0064% | 1h | 143.56 | −0.014% | $10K | $2K | 5x | as long as short |
| dYdX AAVE-USD | 0.0000% | 1h | 143.47 | −0.076% | $102K | $4K | 10x | as long as short |
| Kalshi KXAAVEPERP | 0.0000% | 8h | 143.47 | −0.077% | $59K | $1.5M | 3.4x | as long as short |
| Deribit AAVE_USDC-PERPETUAL | 0.0000% | 1h | 143.57 | −0.007% | $238K | $377K | 50x | as long as short |
| gTrade (Gains Network) AAVE/USD | L +0.0005% / S −0.0004% | 1h | 143.59 | +0.006% | $80K | — | 150x | as long as short |
| Injective AAVE/USDC PERP | +0.0033% | 1h | 136.96 | −4.611% | $422 | $51K | 12x | as long as short |
| Orderly PERP_AAVE_USDC | +0.0044% | 8h | 143.57 | −0.007% | $18K | $10K | 10x | as long as short |
| Reya AAVERUSDPERP | +0.0044% | 1h | 143.53 | −0.038% | — | — | 20x | as long as short |
| Phoenix AAVE | +0.0089% | 1h | 143.48 | −0.070% | $5K | $98K | 10x | as long as short |
| Nado AAVE-PERP | +0.0094% | 1h | 143.64 | +0.042% | $833K | $431K | 10x | as long as short |
01 Exchange AAVEUSD
dYdX AAVE-USD
Kalshi KXAAVEPERP
Deribit AAVE_USDC-PERPETUAL
gTrade (Gains Network) AAVE/USD
Injective AAVE/USDC PERP
Orderly PERP_AAVE_USDC
Reya AAVERUSDPERP
Phoenix AAVE
Nado AAVE-PERPShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter AAVE | +0.0096% | 1h | 143.70 | +0.085% | $4.6M | $1.5M | 10x | as long as short |
| OKX AAVE-USDT-SWAP | +0.0097% | 8h | 143.56 | −0.014% | $17.2M | $63.4M | 50x | as long as short |
| Paradex AAVE-USD-PERP | +0.0100% | 8h | 143.63 | +0.037% | $13K | $4K | 20x | as long as short |
| Hyperliquid AAVE | +0.0100% | 1h | 143.69 | +0.077% | $77.7M | $35.3M | 10x | as long as short |
| Aster AAVEUSDT | +0.0100% | 8h | 143.70 | +0.085% | $1.3M | $1.2M | 50x | as long as short |
| Pacifica AAVE | +0.0100% | 1h | 143.56 | −0.015% | $327K | $433K | 10x | as long as short |
| Binance AAVEUSDT | +0.0100% | 8h | 143.56 | −0.014% | $64.3M | $183.2M | 75x | as long as short |
| Bybit AAVEUSDT | +0.0100% | 8h | 143.57 | −0.007% | $61.4M | $64.2M | 75x | as long as short |
| Arcus AAVE-USD | +0.0100% | 1h | 143.61 | +0.021% | $44K | $179K | 10x | as long as short |
| Bulk AAVE-USD | +0.0100% | 1h | 143.56 | −0.016% | $58K | $2K | 10x | as long as short |
| Gate AAVE_USDT | +0.0100% | 8h | 143.57 | −0.007% | $7.9M | $15.1M | 75x | as long as short |
| MEXC AAVE_USDT | +0.0100% | 8h | 143.54 | −0.028% | $26.0M | $23.5M | 200x | as long as short |
| KuCoin AAVEUSDTM | +0.0100% | 8h | 143.62 | +0.028% | $10.7M | $9.2M | 75x | as long as short |
| Bitget AAVEUSDT | +0.0100% | 8h | 143.56 | −0.014% | $30.1M | $17.3M | 75x | as long as short |
| BingX AAVE-USDC | +0.0100% | 8h | 143.55 | −0.021% | — | $6.5M | — | as long as short |
| Backpack AAVE_USDC_PERPshort | +0.0100% | 1h | 143.50 | −0.056% | $320K | $718K | 10x | |
| Variational Omni AAVE | +0.0100% | 8h | 143.49 | −0.065% | $3.7M | $1.3M | — | as long as short |
| edgeX AAVEUSDC | +0.0100% | 4h | 143.73 | +0.106% | $104K | $277K | 20x | as long as short |
| GRVT AAVE_USDT_Perp | +0.0100% | 8h | 143.78 | +0.139% | $456K | $3.7M | 10x | as long as short |
| ApeX Omni AAVEUSDT | +0.0100% | 1h | 143.78 | +0.139% | $134K | $220K | 50x | as long as short |
| Polymarket Perps AAVE-USD | +0.0100% | 1h | 143.60 | +0.014% | $125K | $419K | 10x | as long as short |
| SunX AAVE-USDT | +0.0100% | 8h | 143.61 | +0.021% | $2K | $1.3M | 20x | as long as short |
| SoDEX AAVE-USD | +0.0100% | 1h | 143.57 | −0.007% | $5K | $301K | 10x | as long as short |
| HTX AAVE-USDT | +0.0100% | 8h | 143.66 | +0.052% | $694K | $5.2M | 75x | as long as short |
| Phemex AAVEUSDT | +0.0100% | 8h | 143.50 | −0.056% | $4.1M | $3.7M | 50x | as long as short |
| Extended AAVE-USD | +0.0104% | 1h | 143.52 | −0.039% | $913K | $1.7M | 50x | as long as short |
| Aevo AAVE-PERP | +0.0104% | 1h | 143.60 | +0.016% | $121K | $146 | 10x | as long as short |
| RISEx AAVE/USDC | +0.0195% | 1h | 143.65 | +0.048% | $195K | $231K | 10x | as long as short |
| BloFin AAVE-USDT | +0.0220% | 8h | 143.38 | −0.139% | $3.4M | $3.5M | 100x | as long as short |
| GMX AAVE/USD [AAVE-USDC] | L +0.0263% / S −0.0420% | 1h | 143.56 | −0.011% | $124K | — | 100x | as long as short |
| Kraken Futures PF_AAVEUSD | +0.0268% | 1h | 143.63 | +0.034% | $3.5M | $2.0M | 50x | as long as short |
| Coinbase International AAVE-PERP-INTXlong | +0.0336% | 1h | 143.58 | long leg | $777K | $2.8M | 50x |
Lighter AAVE
OKX AAVE-USDT-SWAP
Paradex AAVE-USD-PERP
Hyperliquid AAVE
Aster AAVEUSDT
Pacifica AAVE
Binance AAVEUSDT
Bybit AAVEUSDT
Arcus AAVE-USD
Bulk AAVE-USD
Gate AAVE_USDT
MEXC AAVE_USDT
KuCoin AAVEUSDTM
Bitget AAVEUSDT
BingX AAVE-USDC
Variational Omni AAVE
edgeX AAVEUSDC
GRVT AAVE_USDT_Perp
ApeX Omni AAVEUSDT
Polymarket Perps AAVE-USD
SunX AAVE-USDT
SoDEX AAVE-USD
HTX AAVE-USDT
Phemex AAVEUSDT
Extended AAVE-USD
Aevo AAVE-PERP
RISEx AAVE/USDC
BloFin AAVE-USDT
GMX AAVE/USD [AAVE-USDC]
Kraken Futures PF_AAVEUSD