Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0209%/8h= −22.9% APRpaid last 24h −0.047%

Price spread now: OKX against GMX+0.005%7-day average −0.070% · you sell dearer than you buy

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

Long on GMX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.084%+$8 on $10k

Price spread, last 3 days (all we have)−0.254%−$25 · spread now +0.005%, 7d avg −0.070%

Together, before fees−0.170%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.075% dearer against GMX than usual: you sell high and buy low (spread +0.005% now, against its 7-day average of −0.070%): +$8 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 29 hours. Mind the row above: over the last 3 days funding on this pair paid +0.084%, 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]	145.31	L +0.0267% / S −0.0438%	pay 0.0033% / 1h	7m 13s	$125K	—	100x
Short	OKX AAVE-USDT-SWAP	145.32	0.0058	get 0.0058% / 8h	1h 07m	$17.6M	$67.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$43.92
Price spread: +0.005% → −0.070%: $7.51
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$58.42
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	0.34 bp	8.0 bp −$8	12.4 bp −$124	83.2 bp −$8,317	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
01 Exchange AAVEUSD	−0.0128%	1h	145.27	−0.029%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0094%	1h	145.30	−0.009%	$255K	$435K	50x	as long as short
Phoenix AAVE	−0.0045%	1h	145.40	+0.060%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0023%	1h	145.31	−0.002%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.18	−0.088%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.25	−0.043%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.32	+0.005%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.748%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0038%	8h	145.30	−0.009%	$30.7M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0038%	8h	145.31	−0.002%	$66.2M	$185.2M	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	145.25	−0.046%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.35	+0.024%	$181K	$245K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.25	−0.043%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.43	+0.078%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAPshort	+0.0058%	8h	145.32	+0.005%	$17.6M	$67.0M	50x
Gate AAVE_USDT	+0.0065%	8h	145.28	−0.022%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.33	+0.010%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.54	+0.159%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.18	−0.090%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.25	−0.043%	$804K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.39	+0.053%	$79.9M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.31	−0.004%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.19	−0.086%	$331K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.34	+0.019%	$62.0M	$65.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.32	+0.005%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.13	−0.128%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.29	−0.016%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.31	−0.002%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.24	−0.050%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.27	−0.029%	$347K	$723K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.04	−0.191%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.06	−0.175%	$104K	$315K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.27	−0.027%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.28	−0.022%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.34	+0.019%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.24	−0.049%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.40	+0.060%	$696K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.27	−0.029%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.23	−0.057%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0154%	8h	145.23	−0.057%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]long	L +0.0267% / S −0.0438%	1h	145.31	long leg	$125K	—	100x
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.06	−0.174%	$787K	$3.0M	50x	as long as short