Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0135%/8h= −14.8% APRpaid last 24h +0.038%

Price spread now: SunX against Kraken Futures−0.077%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1561.556% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.168%+$17 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now −0.077%, 7d avg −0.040%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and SunX is 0.038% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.040%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.168%, 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	Kraken Futures PF_AAVEUSD	144.01	0.0235	pay 0.0029% / 1h	2m 10s	$3.4M	$2.1M	50x
Short	SunX AAVE-USDT	143.90	0.0100	get 0.0100% / 8h	2h 02m	$2K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$28.4
Price spread: −0.077% → −0.040%: −$3.79
Slippage, 4 orders: −$137.6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$187.79
Costs to cover: 1.556%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; SunX: live order book, 2 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, 2 min ago	3.47 bp	12.5 bp −$12	22.2 bp −$222	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	44.89 bp	66.5 bp −$66	doesn't fit	doesn't fit	doesn't fit

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	143.93	−0.056%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.90	−0.074%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.88	−0.088%	$219K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.88	−0.091%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0030%	1h	143.87	−0.095%	$835K	$400K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.893%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.86	−0.103%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0074%	8h	143.85	−0.109%	$18K	$10K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.89	−0.083%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.98	−0.016%	$1.2M	$1.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AAVE	+0.0100%	1h	143.94	−0.048%	$328K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.91	−0.067%	$64.7M	$191.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.89	−0.081%	$61.9M	$68.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.90	−0.074%	$17.3M	$65.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.01	+0.002%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.91	−0.067%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.95	−0.039%	$8.0M	$16.3M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.92	−0.060%	$25.0M	$24.2M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.91	−0.067%	$10.4M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.91	−0.067%	$29.4M	$18.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.89	−0.081%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	144.00	−0.005%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.01	+0.002%	$107K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.98	−0.017%	$455K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.07	+0.044%	$134K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.98	−0.018%	$143K	$469K	10x	as long as short
SunX AAVE-USDTshort	+0.0100%	8h	143.90	−0.077%	$2K	$1.3M	20x
SoDEX AAVE-USD	+0.0100%	1h	143.88	−0.088%	$5K	$314K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.99	−0.015%	$683K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.90	−0.074%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.79	−0.152%	$915K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.91	−0.066%	$122K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	144.05	+0.030%	$4K	$106K	10x	as long as short
01 Exchange AAVEUSD	+0.0128%	1h	143.95	−0.039%	$11K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0165%	1h	144.12	+0.079%	$78.8M	$37.2M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0167%	1h	144.02	+0.009%	$341K	$727K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	143.96	−0.034%	$200K	$262K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.87	−0.095%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0235%	1h	144.01	long leg	$3.4M	$2.1M	50x
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.88	−0.089%	$112K	—	100x	as long as short
Lighter AAVE	+0.0256%	1h	144.13	+0.084%	$4.6M	$2.5M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	143.94	−0.046%	$768K	$2.9M	50x	as long as short