Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h +0.290%

Price spread now: SunX against Deribit+0.139%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1541.539% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.498%+$50 on $10k

Price spread, last 4 days (all we have)−0.167%−$17 · spread now +0.139%, 7d avg +0.012%

Together, before fees+0.331%+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and SunX is 0.128% dearer against Deribit than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	143.64	−0.0028	get 0.0003% / 1h	9m 55s	$228K	$389K	50x
Short	SunX AAVE-USDT	143.84	0.0100	get 0.0100% / 8h	5h 09m	$1K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.139%Rate

Funding earned: $26.88
Price spread: +0.139% → +0.012%: $12.76
Slippage, 4 orders: −$138.92
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$114.29
Costs to cover: 1.539%
Break-even: 36.8 days

Slippage from Deribit: live order book, 49 min ago; SunX: 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, 49 min ago	6.58 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	44.90 bp	66.8 bp −$67	doesn't fit	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
01 Exchange AAVEUSD	−0.0048%	1h	143.84	+0.139%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUALlong	−0.0028%	1h	143.64	long leg	$228K	$389K	50x
dYdX AAVE-USD	0.0000%	1h	143.93	+0.202%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.80	+0.111%	$59K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.72	+0.057%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.651%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.65	+0.008%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	143.67	+0.021%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0053%	1h	143.79	+0.104%	$830K	$433K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	144.07	+0.299%	$5K	$98K	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	143.79	+0.107%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.87	+0.161%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.55	−0.063%	$77.6M	$34.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.63	−0.009%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.95	+0.217%	$328K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.47	−0.118%	$64.2M	$182.6M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.50	−0.097%	$61.2M	$64.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.44	−0.139%	$17.2M	$63.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.87	+0.160%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.07	+0.302%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.50	−0.097%	$7.8M	$15.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.50	−0.097%	$25.9M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.62	−0.014%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.46	−0.125%	$30.1M	$17.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.50	−0.097%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.66	+0.014%	$320K	$691K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.66	+0.012%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.82	+0.123%	$104K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.88	+0.169%	$451K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.90	+0.181%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.87	+0.160%	$128K	$422K	10x	as long as short
SunX AAVE-USDTshort	+0.0100%	8h	143.84	+0.139%	$1K	$1.3M	20x
SoDEX AAVE-USD	+0.0100%	1h	143.66	+0.014%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.80	+0.112%	$692K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.64	0.000%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.43	−0.144%	$918K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.60	−0.031%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.91	+0.187%	$184K	$237K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.92	+0.195%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	143.72	+0.059%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0267%	1h	143.77	+0.089%	$3.5M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	143.93	+0.202%	$782K	$2.8M	50x	as long as short