Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h +0.044%

Price spread now: Binance against Kraken Futures+0.287%54s7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$420.419% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.099%+$10 on $10k

Price spread, last 3 days (all we have)−0.588%−$59 · spread now +0.287%, 7d avg −0.024%

Together, before fees−0.489%−$49 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Binance is 0.312% dearer against Kraken Futures than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of −0.024%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AAVEUSD	145.88	0.0002	pay 0.0000% / 1h	22m 23s	$3.5M	$2.1M	50x
Short	Binance AAVEUSDT	146.30	0.0041	get 0.0041% / 8h	22m 23s	$66.7M	$186.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now +0.287%Rate

Funding earned: $8.07
Price spread: +0.287% → −0.024%: $31.15
Slippage, 4 orders: −$21.86
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$2.64
Costs to cover: 0.419%
Break-even: 9.3 days

Slippage from Kraken Futures: live order book, 1 min ago; Binance: live order book, 6 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 Kraken Futures live order book, 1 min ago	4.80 bp	14.2 bp −$14	21.0 bp −$210	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	0.34 bp	5.8 bp −$6	13.2 bp −$132	44.6 bp −$4,458	173.3 bp −$86.7K

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
SoDEX AAVE-USD	−0.0069%	1h	145.77	−0.078%	$5K	$305K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	145.94	+0.039%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	146.16	+0.190%	$255K	$389K	50x	as long as short
01 Exchange AAVEUSD	−0.0016%	1h	146.47	+0.402%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.16	+0.186%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.74	−0.098%	$84K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0002%	1h	145.88	long leg	$3.5M	$2.1M	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.28	+0.271%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.117%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0040%	8h	146.20	+0.217%	$29.9M	$26.0M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDTshort	+0.0041%	8h	146.30	+0.287%	$66.7M	$186.4M	75x
Reya AAVERUSDPERP	+0.0044%	1h	146.34	+0.311%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0053%	8h	146.17	+0.196%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0073%	8h	146.34	+0.313%	$7.9M	$15.9M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0073%	8h	146.16	+0.190%	$18.0M	$67.8M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.19	+0.211%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.12	+0.164%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.32	+0.298%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.36	+0.327%	$806K	$442K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.49	+0.416%	$80.8M	$34.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.51	+0.429%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.12	+0.160%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.23	+0.238%	$62.4M	$66.1M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.40	+0.354%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.07	+0.128%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.46	+0.395%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.17	+0.196%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.24	+0.244%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.91	+0.018%	$347K	$745K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.07	+0.127%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.77	−0.079%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.03	+0.102%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.72	−0.112%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.44	+0.381%	$128K	$457K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.59	−0.198%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.81	−0.050%	$689K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.80	−0.057%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.32	+0.300%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.52	+0.433%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0161%	8h	145.75	−0.092%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.32	+0.300%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	145.90	+0.011%	$786K	$3.0M	50x	as long as short