Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.275%

Price spread now: Bitget against Deribit−0.035%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$400.401% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.438%+$44 on $10k

Price spread, last 4 days (all we have)−0.290%−$29 · spread now −0.035%, 7d avg +0.001%

Together, before fees+0.148%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.036% cheaper against Deribit than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of +0.001%). If the spread goes back, that is −$4 on $10k: about 29 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.438% in total) that is about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	143.94	0	get 0.0000% / 1h	54m 49s	$221K	$401K	50x
Short	Bitget AAVEUSDT	143.89	0.0100	get 0.0100% / 8h	3h 54m	$29.3M	$18.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Deribit. 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 DeribitbpFee BitgetbpOrdersPrice spread, now −0.035%Rate

Funding earned: $21
Price spread: −0.035% → +0.001%: −$3.56
Slippage, 4 orders: −$21.12
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$22.69
Costs to cover: 0.401%
Break-even: 14.6 days

Slippage from Deribit: live order book, 59 min ago; Bitget: live order book, 4 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 Deribit live order book, 59 min ago	5.26 bp	11.5 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.35 bp	8.9 bp −$9	18.1 bp −$181	37.0 bp −$3,698	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	143.66	−0.198%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.85	−0.063%	$54K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALlong	0.0000%	1h	143.94	long leg	$221K	$401K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.96	+0.017%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.849%	$422	$51K	12x	as long as short
Phemex AAVEUSDT	+0.0039%	8h	143.92	−0.014%	$4.0M	$3.7M	50x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.86	−0.058%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	143.95	+0.007%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	143.71	−0.160%	$4K	$106K	10x	as long as short
Nado AAVE-PERP	+0.0056%	1h	143.85	−0.059%	$846K	$404K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	144.11	+0.119%	$4.6M	$2.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.59	−0.245%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.15	+0.145%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.70	−0.167%	$329K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.97	+0.022%	$64.4M	$187.8M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.96	+0.014%	$61.9M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.95	+0.007%	$17.2M	$64.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.90	−0.028%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.53	−0.980%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.97	+0.021%	$8.2M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.94	0.000%	$25.1M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.06	+0.083%	$10.6M	$9.3M	75x	as long as short
Bitget AAVEUSDTshort	+0.0100%	8h	143.89	−0.035%	$29.3M	$18.3M	75x
BingX AAVE-USDC	+0.0100%	8h	143.94	0.000%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.38	−0.389%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.58	−0.251%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.54	−0.280%	$462K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.60	−0.236%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.91	−0.021%	$125K	$439K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.97	+0.018%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.99	+0.035%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.93	−0.005%	$692K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.87	−0.049%	$911K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.94	−0.001%	$122K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	143.87	−0.049%	$11K	$2K	5x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.85	−0.066%	$185K	$250K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0154%	1h	144.22	+0.195%	$339K	$720K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.95	+0.007%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0246%	1h	144.09	+0.106%	$3.5M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.94	−0.003%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.82	−0.083%	$789K	$2.8M	50x	as long as short
Hyperliquid AAVE	+0.0423%	1h	144.16	+0.153%	$79.3M	$36.7M	10x	as long as short