AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−2.0010%/8h= −2191.1% APRnext payment −$25.01 per $10,000 · paid last 24h −0.329%

Price spread now: Deribit against GMX−2.080%7-day average −0.065% · you buy dearer than you sell

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

Long on GMX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.251%−$25 on $10k

Price spread, last 3 days (all we have)+2.077%+$208 · spread now −2.080%, 7d avg −0.065%

Together, before fees+1.826%+$183 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$600 a day on $10k at the current rate, and Deribit is 2.015% cheaper against GMX than usual: you would sell low and buy high (−$202 if the spread goes back to its 7-day average of −0.065%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.251% in total (about -28.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$25.01 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	GMX AAVE/USD [AAVE-USDC]	144.43	L +0.0235% / S −0.0366%	pay 0.0029% / 1h	46m 39s	$129K	—	100x
Short	Deribit AAVE_USDC-PERPETUAL	141.43	−1.9775	pay 0.2472% / 1h	46m 39s	$246K	$362K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −2.080%Rate

Funding earned: −$4,202.17
Price spread: −2.080% → −0.065%: −$201.51
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$4,422.68
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Deribit: live order book, 17 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 Deribit live order book, 17 min ago	6.54 bp	10.1 bp −$10	15.3 bp −$153	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-PERPETUALshort	−1.9775%	1h	141.43	−2.080%	$246K	$362K	50x
01 Exchange AAVEUSD	−0.0040%	1h	144.49	+0.039%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.43	−0.002%	$3.5M	$2.0M	50x	as long as short
ApeX Omni AAVEUSDT	−0.0033%	1h	144.58	+0.101%	$134K	$230K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.32	−0.077%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.40	−0.024%	$65K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.44	+0.006%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.68	+0.170%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.175%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0040%	8h	144.36	−0.051%	$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	+0.0041%	8h	144.35	−0.061%	$65.1M	$185.1M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0043%	8h	144.38	−0.037%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.37	−0.046%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0065%	8h	144.31	−0.086%	$17.5M	$66.0M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.33	−0.069%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.37	−0.043%	$184K	$232K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.50	+0.048%	$4.6M	$1.4M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.40	−0.022%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.44	+0.001%	$799K	$427K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.47	+0.025%	$78.5M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.40	−0.021%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.38	−0.038%	$330K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.29	−0.100%	$61.8M	$65.3M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.36	−0.051%	$45K	$188K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.44	+0.004%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.42	−0.010%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.34	−0.065%	$10.8M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.30	−0.093%	$30.0M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.29	−0.100%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.47	+0.025%	$324K	$750K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.23	−0.139%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.51	+0.056%	$104K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.54	+0.075%	$456K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.45	+0.011%	$125K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.45	+0.009%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.36	−0.051%	$5K	$302K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.54	+0.072%	$701K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.39	−0.030%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.26	−0.122%	$922K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0147%	8h	144.53	+0.066%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]long	L +0.0235% / S −0.0366%	1h	144.43	long leg	$129K	—	100x
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.55	+0.080%	$775K	$2.8M	50x	as long as short