Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0152%/8h= −16.7% APRpaid last 24h −0.043%

Price spread now: Gate against GMX−0.052%7-day average −0.048% · you buy dearer than you sell

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

Long on GMX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.109%+$11 on $10k

Price spread, last 4 days (all we have)−0.299%−$30 · spread now −0.052%, 7d avg −0.048%

Together, before fees−0.190%−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.048%, 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 +0.109%, 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]	144.04	L +0.0252% / S −0.0362%	pay 0.0032% / 1h	53m 12s	$113K	—	100x
Short	Gate AAVE_USDT	143.97	0.0100	get 0.0100% / 8h	3h 53m	$8.2M	$15.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against GMX. 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 GMXbpFee GatebpOrdersPrice spread, now −0.052%Rate

Funding earned: −$32
Price spread: −0.052% → −0.048%: −$0.42
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$59.42
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Gate: live order book, 5 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 Gate live order book, 5 min ago	1.39 bp	14.2 bp −$14	30.3 bp −$303	43.6 bp −$4,361	49.2 bp −$24.6K

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
dYdX AAVE-USD	0.0000%	1h	143.66	−0.266%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.78	−0.184%	$54K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.08	+0.025%	$220K	$402K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.04	−0.005%	$81K	—	150x	as long as short
Phemex AAVEUSDT	+0.0032%	8h	143.95	−0.066%	$4.0M	$3.7M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.918%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.71	−0.232%	$4K	$106K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.96	−0.061%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.05	+0.004%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0053%	1h	143.95	−0.066%	$847K	$398K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	144.23	+0.131%	$4.6M	$2.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.82	−0.154%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.02	−0.020%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.77	−0.193%	$329K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	144.10	+0.039%	$64.4M	$187.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.02	−0.017%	$61.9M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	144.02	−0.017%	$17.2M	$64.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.95	−0.066%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.81	−0.163%	$58K	$2K	10x	as long as short
Gate AAVE_USDTshort	+0.0100%	8h	143.97	−0.052%	$8.2M	$15.9M	75x
MEXC AAVE_USDT	+0.0100%	8h	144.06	+0.011%	$25.1M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.12	+0.052%	$10.6M	$9.3M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.99	−0.038%	$29.4M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.03	−0.010%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.38	−0.461%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.71	−0.234%	$104K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.54	−0.352%	$462K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.75	−0.204%	$134K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.04	−0.003%	$127K	$442K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.01	−0.021%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.08	+0.025%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.20	+0.107%	$693K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.02	−0.014%	$911K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.10	+0.040%	$122K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	143.93	−0.080%	$11K	$2K	5x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.91	−0.090%	$185K	$250K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0183%	1h	144.17	+0.087%	$338K	$720K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	144.01	−0.024%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0246%	1h	144.16	+0.079%	$3.5M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]long	L +0.0252% / S −0.0362%	1h	144.04	long leg	$113K	—	100x
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	144.18	+0.094%	$791K	$2.8M	50x	as long as short
Hyperliquid AAVE	+0.0414%	1h	144.20	+0.108%	$79.3M	$36.7M	10x	as long as short