Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.264%

Price spread now: dYdX against Deribit−0.264%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$255as in the Funding arb table

Net, price: spread back to 7d avg − costs−$314as in the Price arb table

costs, in and out, $10k−$2852.847% of the position

Long on Deribit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.300%+$30 on $10k

Price spread, last 4 days (all we have)−0.130%−$13 · spread now −0.264%, 7d avg +0.034%

Together, before fees+0.171%+$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: dYdX is 0.298% cheaper against Deribit than usual: you would sell low and buy high, −$30 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	141.21	0	get 0.0000% / 1h	33m 30s	$213K	$392K	50x
Short	dYdX AAVE-USD	140.84	0	get 0.0000% / 1h	33m 30s	$102K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.264%Rate

Funding earned: $0
Price spread: −0.264% → +0.034%: −$29.77
Slippage, 4 orders: −$267.69
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$314.46
Costs to cover: 2.847%
Break-even: never at this rate

Slippage from Deribit: live order book, 60 min ago; dYdX: live order book, just now.

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, 60 min ago	4.60 bp	8.1 bp −$8	13.9 bp −$139	doesn't fit	doesn't fit
Sell dYdX live order book, just now	66.65 bp	191.3 bp −$191	192.2 bp −$1,922	201.7 bp −$20.2K	228.2 bp −$114.1K

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-USDshort	0.0000%	1h	140.84	−0.264%	$102K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	141.06	−0.106%	$53K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALlong	0.0000%	1h	141.21	long leg	$213K	$392K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.09	−0.084%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.010%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.96	−0.179%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0089%	8h	141.20	−0.007%	$17K	$8K	10x	as long as short
01 Exchange AAVEUSD	+0.0096%	1h	140.76	−0.319%	$10K	$2K	5x	as long as short
Phoenix AAVE	+0.0096%	1h	141.12	−0.064%	$4K	$99K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.67	−0.380%	$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	−0.312%	$823K	$401K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	140.88	−0.234%	$76.9M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.79	−0.300%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.74	−0.333%	$328K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.70	−0.361%	$63.2M	$191.6M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	140.69	−0.368%	$60.7M	$69.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	140.71	−0.354%	$16.6M	$64.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	140.88	−0.234%	$94K	$225K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.17	−0.031%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.76	−0.319%	$8.1M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.71	−0.354%	$22.5M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.75	−0.326%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.70	−0.361%	$28.6M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	140.71	−0.354%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.05	−0.112%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.08	−0.089%	$109K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.16	−0.035%	$451K	$3.5M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.32	+0.078%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.79	−0.297%	$133K	$474K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.03	−0.124%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.11	−0.071%	$5K	$299K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.42	+0.149%	$665K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.13	−0.057%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.65	−0.398%	$906K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.23	+0.013%	$119K	$146	10x	as long as short
Lighter AAVE	+0.0176%	1h	140.94	−0.192%	$4.5M	$2.5M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0180%	1h	141.15	−0.042%	$384K	$732K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	141.36	+0.106%	$754K	$2.7M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.03	−0.127%	$3.2M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	140.76	−0.318%	$171K	$299K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0249%	1h	141.23	+0.015%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.07	−0.101%	$110K	—	100x	as long as short