Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Phemex against edgeX+0.123%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$460.456% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 3 days (all we have)−0.009%−$1 · spread now +0.123%, 7d avg +0.028%

Together, before fees−0.027%+ Points / potential airdropedgeX: Active · farm board−$3 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: Phemex is 0.095% dearer against edgeX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX AAVEUSDC	144.96	0.0100	pay 0.0050% / 4h	1h 14m	$104K	$317K	20x
Short	Phemex AAVEUSDT	145.14	0.0100	get 0.0100% / 8h	1h 14m	$4.1M	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now +0.123%Rate

Funding earned: $0
Price spread: +0.123% → +0.028%: $9.53
Slippage, 4 orders: −$24.62
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$36.08
Costs to cover: 0.456%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; Phemex: 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 edgeX live order book, 3 min ago	3.79 bp	8.3 bp −$8	11.6 bp −$116	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	4.48 bp	15.7 bp −$16	25.6 bp −$256	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	−0.0136%	1h	145.15	+0.130%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0094%	1h	145.12	+0.109%	$255K	$465K	50x	as long as short
Phoenix AAVE	−0.0045%	1h	145.16	+0.137%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0038%	1h	145.15	+0.130%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.11	+0.099%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.21	+0.171%	$68K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.18	+0.151%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.520%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0036%	8h	145.14	+0.123%	$30.8M	$25.9M	200x	as long as short
Binance AAVEUSDT	+0.0036%	8h	145.16	+0.137%	$66.1M	$185.3M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	145.11	+0.099%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.19	+0.155%	$181K	$243K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.11	+0.102%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.32	+0.248%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0055%	8h	145.16	+0.137%	$17.5M	$66.7M	50x	as long as short
Gate AAVE_USDT	+0.0064%	8h	145.16	+0.137%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.15	+0.130%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.37	+0.280%	$4.7M	$1.6M	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0097%	8h	145.01	+0.036%	$458K	$3.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.11	+0.100%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.11	+0.102%	$803K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.28	+0.220%	$79.8M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.24	+0.191%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.14	+0.123%	$331K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.14	+0.123%	$61.7M	$65.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.15	+0.130%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.07	+0.078%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.17	+0.144%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.18	+0.151%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.16	+0.137%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.26	+0.206%	$347K	$725K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.10	+0.093%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDClong	+0.0100%	4h	144.96	long leg	$104K	$317K	20x
ApeX Omni AAVEUSDT	+0.0100%	1h	144.94	−0.015%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.19	+0.158%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.07	+0.077%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.44	+0.328%	$696K	$5.0M	75x	as long as short
Phemex AAVEUSDTshort	+0.0100%	8h	145.14	+0.123%	$4.1M	$3.8M	50x
Extended AAVE-USD	+0.0104%	1h	145.10	+0.096%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0145%	8h	145.12	+0.109%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.18	+0.149%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.06	+0.068%	$787K	$3.0M	50x	as long as short