Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.051%

Price spread now: KuCoin against Coinbase International+0.241%7-day average −0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$570.568% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.243%−$24 on $10k

Price spread, last 3 days (all we have)−0.366%−$37 · spread now +0.241%, 7d avg −0.067%

Together, before fees−0.609%−$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.308% dearer against Coinbase International than usual: you sell high and buy low (spread +0.241% now, against its 7-day average of −0.067%): +$31 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 6.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AAVE-PERP-INTX	145.06	0.0272	pay 0.0034% / 1h	5m 57s	$787K	$3.0M	50x
Short	KuCoin AAVEUSDTM	145.41	0.0100	get 0.0100% / 8h	1h 05m	$10.0M	$8.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.241%Rate

Funding earned: −$36.12
Price spread: +0.241% → −0.067%: $30.79
Slippage, 4 orders: −$34.84
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$62.17
Costs to cover: 0.568%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; KuCoin: live order book, 2 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	4.81 bp	12.6 bp −$13	16.6 bp −$166	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	0.69 bp	13.0 bp −$13	26.7 bp −$267	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	−0.0128%	1h	145.47	+0.283%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0045%	1h	145.40	+0.234%	$5K	$100K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0025%	1h	145.51	+0.310%	$254K	$436K	50x	as long as short
SoDEX AAVE-USD	−0.0021%	1h	145.50	+0.303%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.33	+0.185%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.49	+0.296%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.55	+0.339%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.584%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0038%	8h	145.41	+0.241%	$30.7M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0039%	8h	145.44	+0.261%	$66.3M	$185.0M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	145.47	+0.279%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.51	+0.312%	$181K	$245K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.49	+0.296%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.59	+0.366%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0059%	8h	145.38	+0.221%	$17.6M	$67.0M	50x	as long as short
Gate AAVE_USDT	+0.0067%	8h	145.49	+0.296%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.62	+0.385%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.69	+0.432%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.41	+0.245%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.47	+0.283%	$805K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.63	+0.393%	$80.0M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.54	+0.328%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.40	+0.236%	$332K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.42	+0.248%	$62.1M	$65.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.46	+0.276%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.13	+0.046%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTMshort	+0.0100%	8h	145.41	+0.241%	$10.0M	$8.6M	75x
Bitget AAVEUSDT	+0.0100%	8h	145.48	+0.290%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.48	+0.290%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.61	+0.379%	$348K	$723K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.04	−0.017%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.06	−0.002%	$104K	$315K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.27	+0.147%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.28	+0.152%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.54	+0.331%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.49	+0.298%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.57	+0.354%	$697K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.46	+0.276%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.37	+0.214%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0154%	8h	145.23	+0.117%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.54	+0.329%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0272%	1h	145.06	long leg	$787K	$3.0M	50x