AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0336%/8h= −36.8% APRnext payment −$0.42 per $10,000 · paid last 24h −0.336%

Price spread now: Deribit against Coinbase International−0.127%7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$490.492% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.637%−$64 on $10k

Price spread, last 4 days (all we have)+0.202%+$20 · spread now −0.127%, 7d avg −0.088%

Together, before fees−0.435%−$44 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Deribit is 0.038% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.088%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AAVE-PERP-INTX	142.20	0.0336	pay 0.0042% / 1h	41m 50s	$783K	$2.8M	50x
Short	Deribit AAVE_USDC-PERPETUAL	142.02	0	get 0.0000% / 1h	41m 50s	$220K	$399K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 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 Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now −0.127%Rate

Funding earned: −$70.56
Price spread: −0.127% → −0.088%: −$3.85
Slippage, 4 orders: −$32.19
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$123.6
Costs to cover: 0.492%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Deribit: live order book, 12 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, 2 min ago	5.26 bp	14.3 bp −$14	18.2 bp −$182	doesn't fit	doesn't fit
Sell Deribit live order book, 12 min ago	5.26 bp	9.1 bp −$9	doesn't fit	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	−0.0176%	1h	141.89	−0.218%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.99	−0.144%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.96	−0.169%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALshort	0.0000%	1h	142.02	−0.127%	$220K	$399K	50x
SoDEX AAVE-USD	+0.0002%	1h	142.02	−0.127%	$5K	$299K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.05	−0.103%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.685%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.02	−0.130%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0046%	1h	142.02	−0.127%	$841K	$447K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	142.02	−0.127%	$18K	$10K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0056%	1h	142.04	−0.113%	$4K	$102K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.07	−0.094%	$4.6M	$1.9M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.00	−0.140%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.08	−0.084%	$76.6M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.06	−0.097%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.04	−0.113%	$323K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.97	−0.162%	$63.4M	$185.7M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.93	−0.190%	$60.7M	$66.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.95	−0.176%	$17.0M	$63.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.02	−0.127%	$63K	$204K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.12	−0.056%	$57K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.02	−0.127%	$8.0M	$15.7M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.01	−0.134%	$25.0M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.99	−0.148%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.91	−0.204%	$28.9M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.95	−0.176%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.07	−0.091%	$337K	$715K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.05	−0.106%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.83	−0.260%	$102K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.11	−0.063%	$449K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.11	−0.063%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.04	−0.113%	$122K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.94	−0.184%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.10	−0.073%	$684K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.97	−0.162%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.96	−0.172%	$895K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.05	−0.105%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	141.96	−0.165%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.12	−0.056%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.04	−0.112%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0326%	1h	142.12	−0.059%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0336%	1h	142.20	long leg	$783K	$2.8M	50x