AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−1.9765%/8h= −2164.3% APRnext payment −$24.71 per $10,000 · paid last 24h −0.284%

Price spread now: Deribit against dYdX−2.145%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$242as in the Funding arb table

Net, price: spread back to 7d avg − costs−$422as in the Price arb table

costs, in and out, $10k−$2112.108% of the position

Long on dYdX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.311%−$31 on $10k

Price spread, last 3 days (all we have)+2.266%+$227 · spread now −2.145%, 7d avg −0.031%

Together, before fees+1.954%+$195 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$593 a day on $10k at the current rate, and Deribit is 2.114% cheaper against dYdX than usual: you would sell low and buy high (−$211 if the spread goes back to its 7-day average of −0.031%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.311% in total (about -16.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$24.71 per $10,000. 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	dYdX AAVE-USD	144.60	0	get 0.0000% / 1h	47m 58s	$103K	$4K	10x
Short	Deribit AAVE_USDC-PERPETUAL	141.50	−1.9765	pay 0.2471% / 1h	47m 58s	$246K	$362K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against dYdX. 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 dYdXbpFee DeribitbpOrdersPrice spread, now −2.145%Rate

Funding earned: −$4,150.65
Price spread: −2.145% → −0.031%: −$211.42
Slippage, 4 orders: −$193.78
Fee dYdX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$4,572.84
Costs to cover: 2.108%
Break-even: never at this rate

Slippage from dYdX: live order book, 21 min ago; Deribit: live order book, 16 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 dYdX live order book, 21 min ago	67.94 bp	113.3 bp −$113	114.3 bp −$1,143	307.1 bp −$30.7K	783.6 bp −$391.8K
Sell Deribit live order book, 16 min ago	6.54 bp	10.1 bp −$10	15.3 bp −$153	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
Deribit AAVE_USDC-PERPETUALshort	−1.9765%	1h	141.50	−2.145%	$246K	$362K	50x
ApeX Omni AAVEUSDT	−0.0166%	1h	144.26	−0.237%	$134K	$230K	50x	as long as short
01 Exchange AAVEUSD	−0.0048%	1h	144.45	−0.105%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.49	−0.075%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USDlong	0.0000%	1h	144.60	long leg	$103K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	144.67	+0.047%	$65K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.41	−0.133%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.68	+0.054%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.285%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0036%	8h	144.45	−0.105%	$27.6M	$24.7M	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	+0.0039%	8h	144.45	−0.106%	$65.2M	$184.9M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0043%	8h	144.36	−0.167%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.29	−0.214%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	144.43	−0.119%	$17.5M	$66.1M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.42	−0.127%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.48	−0.084%	$183K	$231K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.59	−0.006%	$4.6M	$1.4M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.53	−0.050%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.47	−0.091%	$800K	$427K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.61	+0.005%	$78.6M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.45	−0.107%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.59	−0.007%	$330K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.43	−0.119%	$61.8M	$65.2M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.46	−0.098%	$45K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.56	−0.029%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.48	−0.084%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.46	−0.098%	$10.8M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.37	−0.160%	$30.0M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.49	−0.078%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.50	−0.071%	$324K	$750K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.23	−0.255%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.86	−0.511%	$104K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.95	−0.452%	$455K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.47	−0.091%	$125K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.35	−0.176%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.42	−0.126%	$5K	$302K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.78	+0.120%	$703K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.40	−0.140%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.36	−0.169%	$922K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0147%	8h	144.53	−0.050%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0366%	1h	144.38	−0.156%	$129K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.89	+0.199%	$777K	$2.9M	50x	as long as short