Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.307%

Price spread now: KuCoin against Deribit−0.446%53s7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$540.539% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.422%+$42 on $10k

Price spread, last 3 days (all we have)+0.320%+$32 · spread now −0.446%, 7d avg +0.020%

Together, before fees+0.742%+$74 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.466% cheaper against Deribit than usual: you would sell low and buy high (spread −0.446% now, against its 7-day average of +0.020%). If the spread goes back, that is −$47 on $10k: about 16 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.422% in total) that is about 7.7 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	145.80	0	get 0.0000% / 1h	3m 25s	$254K	$367K	50x
Short	KuCoin AAVEUSDTM	145.15	0.0100	get 0.0100% / 8h	7h 03m	$10.9M	$9.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.446%Rate

Funding earned: $21
Price spread: −0.446% → +0.020%: −$46.57
Slippage, 4 orders: −$34.91
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$79.48
Costs to cover: 0.539%
Break-even: 33.5 days

Slippage from Deribit: live order book, 1 min ago; KuCoin: 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 Deribit live order book, 1 min ago	6.54 bp	10.0 bp −$10	18.2 bp −$182	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	1.03 bp	17.4 bp −$17	28.6 bp −$286	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	−0.0185%	1h	145.82	+0.013%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.15	−0.446%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0037%	1h	145.73	−0.048%	$5K	$302K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.28	−0.355%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.72	−0.055%	$66K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.22	+0.288%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUALlong	0.0000%	1h	145.80	long leg	$254K	$367K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.14	−0.454%	$70K	—	150x	as long as short
Phemex AAVEUSDT	+0.0017%	8h	145.78	−0.014%	$4.2M	$3.8M	50x	as long as short
MEXC AAVE_USDT	+0.0029%	8h	145.07	−0.501%	$28.2M	$26.2M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0030%	8h	145.11	−0.473%	$65.7M	$183.4M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.063%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0043%	1h	145.54	−0.178%	$135K	$231K	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	145.15	−0.446%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.09	−0.487%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0064%	8h	145.13	−0.460%	$17.7M	$65.8M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.17	−0.432%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.44	−0.250%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.25	−0.376%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.18	−0.425%	$795K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.23	−0.391%	$79.0M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.16	−0.439%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.25	−0.374%	$332K	$469K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.12	−0.466%	$62.1M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.18	−0.425%	$45K	$246K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	145.08	−0.494%	$7.8M	$15.4M	75x	as long as short
KuCoin AAVEUSDTMshort	+0.0100%	8h	145.15	−0.446%	$10.9M	$9.1M	75x
Bitget AAVEUSDT	+0.0100%	8h	145.10	−0.480%	$30.1M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.08	−0.494%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.70	−0.069%	$333K	$743K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.38	−0.289%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.11	+0.213%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.47	−0.225%	$454K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.17	−0.432%	$126K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.78	−0.010%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.89	+0.064%	$708K	$5.2M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.28	+0.329%	$59K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.11	−0.472%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.19	−0.416%	$184K	$245K	10x	as long as short
BloFin AAVE-USDT	+0.0109%	8h	145.51	−0.199%	$3.5M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	145.11	−0.472%	$129K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	145.92	+0.082%	$781K	$2.9M	50x	as long as short