AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0166%/8h= −18.2% APRnext payment −$0.21 per $10,000 · paid last 24h +0.006%

Price spread now: Backpack against GMX−0.014%7-day average −0.032% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.149%+$15 on $10k

Price spread, last 3 days (all we have)−0.338%−$34 · spread now −0.014%, 7d avg −0.032%

Together, before fees−0.189%−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.149%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AAVE/USD [AAVE-USDC]	144.98	L +0.0266% / S −0.0438%	pay 0.0033% / 1h	25m 46s	$125K	—	100x
Short	Backpack AAVE_USDC_PERP	144.96	0.0100	get 0.0013% / 1h	25m 46s	$378K	$702K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GMXbpFee BackpackbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$34.86
Price spread: −0.014% → −0.032%: $1.82
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$55.04
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Backpack: live order book, 63 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 63 min ago	0.68 bp	8.5 bp −$9	94.6 bp −$946	doesn't fit	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-PERPETUAL	−0.0302%	1h	144.91	−0.048%	$249K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0179%	1h	144.87	−0.076%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.78	−0.138%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.63	−0.241%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.85	−0.092%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.58	−0.276%	$71K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.97	−0.004%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	145.01	+0.021%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.532%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0041%	1h	144.40	−0.400%	$134K	$229K	50x	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	144.73	−0.169%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0051%	8h	144.68	−0.207%	$17.5M	$66.1M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0053%	8h	144.87	−0.076%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0055%	8h	144.76	−0.152%	$7.8M	$15.8M	75x	as long as short
Binance AAVEUSDT	+0.0059%	8h	144.64	−0.233%	$65.9M	$184.1M	75x	as long as short
MEXC AAVE_USDT	+0.0060%	8h	144.75	−0.158%	$31.6M	$26.3M	200x	as long as short
Nado AAVE-PERP	+0.0087%	1h	144.73	−0.174%	$803K	$436K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0092%	8h	144.45	−0.363%	$455K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.88	−0.067%	$4.7M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.90	−0.053%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.78	−0.137%	$180K	$241K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.76	−0.149%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.85	−0.089%	$80.5M	$33.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.79	−0.131%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.87	−0.075%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.72	−0.179%	$61.6M	$65.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.73	−0.172%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.30	−0.471%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.81	−0.117%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.72	−0.179%	$30.2M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.77	−0.145%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	144.96	−0.014%	$378K	$702K	10x
Variational Omni AAVE	+0.0100%	8h	144.45	−0.366%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.36	−0.425%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.83	−0.103%	$127K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.70	−0.192%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.11	+0.091%	$723K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.93	−0.034%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.75	−0.158%	$933K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0180%	8h	144.78	−0.138%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.36	−0.427%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]long	L +0.0266% / S −0.0438%	1h	144.98	long leg	$125K	—	100x