Funding you earn now, next payment 00:00 UTC−0.0329%/8h= −36.0% APRpaid last 24h −0.044%
Price spread now: Phemex against Coinbase International−0.089%7-day average −0.056% · you buy dearer than you sell
Net, funding: paid 7d − costs−$72as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$570.568% of the position
Funding, last 7 days−0.149%−$15 on $10k
+Price spread, last 3 days (all we have)+0.129%+$13 · spread now −0.089%, 7d avg −0.056%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Phemex is 0.033% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.056%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.149% in total (about -7.8% a year). A funding rate is set anew for every payment. 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 | 146.32 | 0.0296 | pay 0.0037% / 1h | 33m 15s | $787K | $3.1M | 50x |
| Short | Phemex AAVEUSDT | 146.19 | −0.0033 | pay 0.0033% / 8h | 7h 33m | $4.2M | $3.8M | 50x |
Coinbase International AAVE-PERP-INTX
Phemex AAVEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$69.12
- Price spread: −0.089% → −0.056%
- −$3.27
- Slippage, 4 orders
- −$34.83
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$129.22
- Costs to cover
- 0.568%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 1 min ago; Phemex: live order book, 6 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, 1 min ago | 5.12 bp | 11.2 bp −$11 | 15.4 bp −$154 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 6 min ago | 3.09 bp | 13.1 bp −$13 | 21.0 bp −$210 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_AAVEUSD | −0.0184% | 1h | 146.28 | −0.027% | $3.5M | $2.1M | 50x | as long as short |
| 01 Exchange AAVEUSD | −0.0144% | 1h | 146.17 | −0.103% | $11K | $2K | 5x | as long as short |
| SoDEX AAVE-USD | −0.0107% | 1h | 146.17 | −0.103% | $5K | $305K | 10x | as long as short |
| Phemex AAVEUSDTshort | −0.0033% | 8h | 146.19 | −0.089% | $4.2M | $3.8M | 50x | |
| Deribit AAVE_USDC-PERPETUAL | −0.0024% | 1h | 146.21 | −0.075% | $255K | $369K | 50x | as long as short |
| dYdX AAVE-USD | 0.0000% | 1h | 146.33 | +0.007% | $104K | $4K | 10x | as long as short |
| Kalshi KXAAVEPERP | 0.0000% | 8h | 146.26 | −0.041% | $78K | $1.5M | 3.4x | as long as short |
| Phoenix AAVE | 0.0000% | 1h | 146.19 | −0.089% | $5K | $102K | 10x | as long as short |
| gTrade (Gains Network) AAVE/USD | L +0.0005% / S −0.0004% | 1h | 146.26 | −0.040% | $71K | — | 150x | as long as short |
| MEXC AAVE_USDT | +0.0020% | 8h | 146.20 | −0.082% | $29.2M | $25.8M | 200x | as long as short |
Kraken Futures PF_AAVEUSD
01 Exchange AAVEUSD
SoDEX AAVE-USD
Deribit AAVE_USDC-PERPETUAL
dYdX AAVE-USD
Kalshi KXAAVEPERP
Phoenix AAVE
gTrade (Gains Network) AAVE/USD
MEXC AAVE_USDTShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance AAVEUSDT | +0.0020% | 8h | 146.19 | −0.089% | $66.3M | $184.8M | 75x | as long as short |
| Injective AAVE/USDC PERP | +0.0033% | 1h | 136.96 | −6.397% | $422 | $51K | 12x | as long as short |
| Reya AAVERUSDPERP | +0.0044% | 1h | 146.23 | −0.060% | — | — | 20x | as long as short |
| Orderly PERP_AAVE_USDC | +0.0047% | 8h | 146.17 | −0.103% | $18K | $10K | 10x | as long as short |
| OKX AAVE-USDT-SWAP | +0.0060% | 8h | 146.20 | −0.082% | $17.9M | $66.9M | 50x | as long as short |
| Gate AAVE_USDT | +0.0063% | 8h | 146.26 | −0.041% | $7.9M | $15.2M | 75x | as long as short |
| ApeX Omni AAVEUSDT | +0.0067% | 1h | 146.03 | −0.198% | $136K | $230K | 50x | as long as short |
| GRVT AAVE_USDT_Perp | +0.0071% | 8h | 145.82 | −0.339% | $461K | $3.8M | 10x | as long as short |
| BloFin AAVE-USDT | +0.0081% | 8h | 146.12 | −0.137% | $3.5M | $4.0M | 100x | as long as short |
| Bybit AAVEUSDT | +0.0088% | 8h | 146.19 | −0.089% | $62.5M | $65.4M | 75x | as long as short |
| Aevo AAVE-PERP | +0.0088% | 1h | 146.19 | −0.089% | $123K | $146 | 10x | as long as short |
| Lighter AAVE | +0.0096% | 1h | 146.39 | +0.048% | $4.7M | $1.5M | 10x | as long as short |
| Paradex AAVE-USD-PERP | +0.0100% | 8h | 146.34 | +0.016% | $14K | $4K | 20x | as long as short |
| Nado AAVE-PERP | +0.0100% | 1h | 146.25 | −0.051% | $800K | $445K | 10x | as long as short |
| Hyperliquid AAVE | +0.0100% | 1h | 146.38 | +0.041% | $79.9M | $35.3M | 10x | as long as short |
| Aster AAVEUSDT | +0.0100% | 8h | 146.31 | −0.007% | $1.4M | $1.2M | 50x | as long as short |
| Pacifica AAVE | +0.0100% | 1h | 146.26 | −0.040% | $334K | $503K | 10x | as long as short |
| Arcus AAVE-USD | +0.0100% | 1h | 146.36 | +0.027% | $46K | $278K | 10x | as long as short |
| Bulk AAVE-USD | +0.0100% | 1h | 145.72 | −0.410% | $61K | −$0 | 10x | as long as short |
| KuCoin AAVEUSDTM | +0.0100% | 8h | 146.21 | −0.075% | $10.1M | $8.7M | 75x | as long as short |
| Bitget AAVEUSDT | +0.0100% | 8h | 146.20 | −0.082% | $30.4M | $18.1M | 75x | as long as short |
| BingX AAVE-USDT | +0.0100% | 8h | 146.21 | −0.075% | — | $44.1M | — | as long as short |
| Backpack AAVE_USDC_PERP | +0.0100% | 1h | 146.23 | −0.062% | $333K | $741K | 10x | as long as short |
| Variational Omni AAVE | +0.0100% | 8h | 145.87 | −0.306% | $3.8M | $1.3M | — | as long as short |
| edgeX AAVEUSDC | +0.0100% | 4h | 145.80 | −0.357% | $105K | $318K | 20x | as long as short |
| Polymarket Perps AAVE-USD | +0.0100% | 1h | 146.29 | −0.021% | $128K | $427K | 10x | as long as short |
| SunX AAVE-USDT | +0.0100% | 8h | 146.25 | −0.045% | $1K | $1.3M | 20x | as long as short |
| HTX AAVE-USDT | +0.0100% | 8h | 146.42 | +0.070% | $711K | $5.2M | 75x | as long as short |
| Extended AAVE-USD | +0.0104% | 1h | 146.13 | −0.133% | $932K | $1.7M | 50x | as long as short |
| RISEx AAVE/USDC | +0.0107% | 1h | 146.33 | +0.008% | $185K | $246K | 10x | as long as short |
| GMX AAVE/USD [AAVE-USDC] | L +0.0233% / S −0.0363% | 1h | 146.24 | −0.055% | $128K | — | 100x | as long as short |
| Coinbase International AAVE-PERP-INTXlong | +0.0296% | 1h | 146.32 | long leg | $787K | $3.1M | 50x |
Binance AAVEUSDT
Injective AAVE/USDC PERP
Reya AAVERUSDPERP
Orderly PERP_AAVE_USDC
OKX AAVE-USDT-SWAP
Gate AAVE_USDT
ApeX Omni AAVEUSDT
GRVT AAVE_USDT_Perp
BloFin AAVE-USDT
Bybit AAVEUSDT
Aevo AAVE-PERP
Lighter AAVE
Paradex AAVE-USD-PERP
Nado AAVE-PERP
Hyperliquid AAVE
Aster AAVEUSDT
Pacifica AAVE
Arcus AAVE-USD
Bulk AAVE-USD
KuCoin AAVEUSDTM
Bitget AAVEUSDT
BingX AAVE-USDT
Backpack AAVE_USDC_PERP
Variational Omni AAVE
edgeX AAVEUSDC
Polymarket Perps AAVE-USD
SunX AAVE-USDT
HTX AAVE-USDT
Extended AAVE-USD
RISEx AAVE/USDC
GMX AAVE/USD [AAVE-USDC]