Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.273%

Price spread now: Deribit against Gate−0.042%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$480.481% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.399%−$40 on $10k

Price spread, last 4 days (all we have)+0.363%+$36 · spread now −0.042%, 7d avg −0.015%

Together, before fees−0.036%−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.027% cheaper against Gate than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AAVE_USDT	142.11	0.0100	pay 0.0100% / 8h	4h 44m	$8.0M	$15.6M	75x
Short	Deribit AAVE_USDC-PERPETUAL	142.05	0	get 0.0000% / 1h	44m 57s	$220K	$399K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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 GatebpFee DeribitbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$21
Price spread: −0.042% → −0.015%: −$2.73
Slippage, 4 orders: −$26.14
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$71.87
Costs to cover: 0.481%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Deribit: live order book, 9 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 Gate live order book, 4 min ago	2.47 bp	12.8 bp −$13	29.4 bp −$294	43.0 bp −$4,298	48.2 bp −$24.1K
Sell Deribit live order book, 9 min ago	5.26 bp	9.1 bp −$9	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	−0.0176%	1h	142.10	−0.007%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0037%	1h	142.01	−0.070%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.14	+0.024%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.10	−0.007%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALshort	0.0000%	1h	142.05	−0.042%	$220K	$399K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.10	−0.008%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.624%	$422	$51K	12x	as long as short
Nado AAVE-PERP	+0.0042%	1h	142.00	−0.077%	$841K	$447K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.09	−0.017%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	142.07	−0.028%	$18K	$10K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0056%	1h	142.04	−0.049%	$4K	$102K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.13	+0.016%	$4.5M	$1.9M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.08	−0.018%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.18	+0.049%	$76.7M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.16	+0.035%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.07	−0.025%	$323K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.06	−0.035%	$63.4M	$185.6M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.04	−0.049%	$60.7M	$66.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.05	−0.042%	$17.0M	$63.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.19	+0.056%	$63K	$204K	10x	as long as short
Gate AAVE_USDTlong	+0.0100%	8h	142.11	long leg	$8.0M	$15.6M	75x
MEXC AAVE_USDT	+0.0100%	8h	142.08	−0.021%	$25.1M	$23.6M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.06	−0.035%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.04	−0.049%	$28.9M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.05	−0.042%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.18	+0.049%	$337K	$715K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.05	−0.043%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.83	−0.197%	$102K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.90	−0.150%	$448K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.81	−0.211%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.15	+0.028%	$122K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.09	−0.014%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.19	+0.058%	$684K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.07	−0.028%	$4.0M	$3.7M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.68	+0.399%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.06	−0.033%	$895K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.01	−0.067%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.18	+0.047%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.04	−0.049%	$3.3M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.09	−0.016%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0326%	1h	142.12	+0.004%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.12	+0.007%	$775K	$2.8M	50x	as long as short