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 +0.022%

Price spread now: KuCoin against dYdX−0.045%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$193as in the Price arb table

costs, in and out, $10k−$1901.899% of the position

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now −0.045%, 7d avg −0.015%

Together, before fees+0.118%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.030% cheaper against dYdX than usual: you would sell low and buy high (spread −0.045% now, against its 7-day average of −0.015%). If the spread goes back, that is −$3 on $10k: about 24 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX AAVE-USD	145.55	0	get 0.0000% / 1h	51m 39s	$104K	$5K	10x
Short	KuCoin AAVEUSDTM	145.49	0.0100	get 0.0100% / 8h	7h 51m	$10.0M	$8.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.045%Rate

Funding earned: $21
Price spread: −0.045% → −0.015%: −$3
Slippage, 4 orders: −$167.9
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$171.9
Costs to cover: 1.899%
Break-even: 64.3 days

Slippage from dYdX: live order book, 22 min ago; KuCoin: live order book, 7 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, 22 min ago	67.60 bp	73.3 bp −$73	73.3 bp −$733	75.0 bp −$7,503	83.4 bp −$41.7K
Sell KuCoin live order book, 7 min ago	1.03 bp	17.5 bp −$17	37.8 bp −$378	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
ApeX Omni AAVEUSDT	−0.0190%	1h	145.56	+0.004%	$135K	$229K	50x	as long as short
Kraken Futures PF_AAVEUSD	−0.0185%	1h	145.70	+0.102%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0128%	1h	145.47	−0.058%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0092%	1h	145.56	+0.004%	$5K	$305K	10x	as long as short
Gate AAVE_USDT	−0.0072%	8h	145.51	−0.031%	$7.8M	$15.2M	75x	as long as short
dYdX AAVE-USDlong	0.0000%	1h	145.55	long leg	$104K	$5K	10x
Kalshi KXAAVEPERP	0.0000%	8h	145.59	+0.024%	$77K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	145.79	+0.162%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	145.85	+0.203%	$255K	$391K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.98	+0.293%	$71K	—	150x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0023%	8h	145.54	−0.010%	$29.1M	$25.6M	200x	as long as short
Binance AAVEUSDT	+0.0024%	8h	145.50	−0.038%	$66.0M	$187.5M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.905%	$422	$51K	12x	as long as short
GRVT AAVE_USDT_Perp	+0.0034%	8h	145.61	+0.039%	$456K	$3.9M	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.86	+0.208%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.72	+0.113%	$18K	$12K	10x	as long as short
Phemex AAVEUSDT	+0.0057%	8h	145.66	+0.072%	$4.1M	$3.8M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	145.50	−0.038%	$17.8M	$67.1M	50x	as long as short
Bybit AAVEUSDT	+0.0070%	8h	145.52	−0.024%	$62.2M	$66.0M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.69	+0.093%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.70	+0.102%	$4.7M	$1.5M	10x	as long as short
BloFin AAVE-USDT	+0.0099%	8h	145.63	+0.052%	$3.5M	$4.1M	100x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.49	−0.045%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.50	−0.034%	$796K	$449K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.56	+0.003%	$79.4M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.61	+0.037%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.52	−0.023%	$332K	$504K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.48	−0.051%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.52	−0.021%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTMshort	+0.0100%	8h	145.49	−0.045%	$10.0M	$8.8M	75x
Bitget AAVEUSDT	+0.0100%	8h	145.52	−0.024%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.46	−0.065%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.62	+0.045%	$348K	$742K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.84	+0.193%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.59	+0.025%	$105K	$317K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.96	+0.278%	$128K	$454K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.93	+0.254%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.30	+0.514%	$689K	$5.1M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.41	−0.100%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.52	−0.024%	$184K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.98	+0.295%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.08	+0.361%	$784K	$3.1M	50x	as long as short