Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.063%

Price spread now: OKX against Coinbase International−0.460%7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$390.393% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.270%−$27 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now −0.460%, 7d avg −0.095%

Together, before fees−0.149%−$15 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 OKX is 0.365% cheaper against Coinbase International than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of −0.095%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AAVE-PERP-INTX	141.36	0.0216	pay 0.0027% / 1h	33m 26s	$754K	$2.7M	50x
Short	OKX AAVE-USDT-SWAP	140.71	0.0100	get 0.0100% / 8h	7h 33m	$16.6M	$64.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.460%Rate

Funding earned: −$24.36
Price spread: −0.460% → −0.095%: −$36.53
Slippage, 4 orders: −$19.33
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$100.21
Costs to cover: 0.393%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; OKX: live order book, 5 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, 5 min ago	3.89 bp	12.4 bp −$12	17.7 bp −$177	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.35 bp	6.5 bp −$7	13.8 bp −$138	62.0 bp −$6,197	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
dYdX AAVE-USD	0.0000%	1h	140.84	−0.369%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.06	−0.212%	$53K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.21	−0.106%	$213K	$392K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.09	−0.190%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.113%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.96	−0.285%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0089%	8h	141.20	−0.113%	$17K	$8K	10x	as long as short
01 Exchange AAVEUSD	+0.0096%	1h	140.76	−0.424%	$10K	$2K	5x	as long as short
Phoenix AAVE	+0.0096%	1h	141.12	−0.170%	$4K	$99K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.67	−0.486%	$13K	$4K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AAVE-PERP	+0.0100%	1h	140.77	−0.417%	$823K	$401K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	140.88	−0.340%	$76.9M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.79	−0.406%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.74	−0.439%	$328K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.70	−0.467%	$63.2M	$191.6M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	140.69	−0.474%	$60.7M	$69.1M	75x	as long as short
OKX AAVE-USDT-SWAPshort	+0.0100%	8h	140.71	−0.460%	$16.6M	$64.6M	50x
Arcus AAVE-USD	+0.0100%	1h	140.88	−0.340%	$94K	$225K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.17	−0.137%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.76	−0.424%	$8.1M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.71	−0.460%	$22.5M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.75	−0.432%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.70	−0.467%	$28.6M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	140.71	−0.460%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.05	−0.218%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.08	−0.195%	$109K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.16	−0.141%	$451K	$3.5M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.32	−0.028%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.79	−0.403%	$133K	$474K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.03	−0.230%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.11	−0.177%	$5K	$299K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.42	+0.043%	$665K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.13	−0.163%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.65	−0.503%	$906K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.23	−0.093%	$119K	$146	10x	as long as short
Lighter AAVE	+0.0176%	1h	140.94	−0.298%	$4.5M	$2.5M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0180%	1h	141.15	−0.149%	$384K	$732K	10x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0216%	1h	141.36	long leg	$754K	$2.7M	50x
BloFin AAVE-USDT	+0.0220%	8h	141.03	−0.233%	$3.2M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	140.76	−0.424%	$171K	$299K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0249%	1h	141.23	−0.091%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.07	−0.207%	$110K	—	100x	as long as short