Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.289%

Price spread now: Deribit against KuCoin0.000%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$510.512% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.411%−$41 on $10k

Price spread, last 4 days (all we have)+0.125%+$13 · spread now 0.000%, 7d avg −0.024%

Together, before fees−0.285%−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.024% dearer against KuCoin than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.024%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AAVEUSDTM	142.23	0.0100	pay 0.0100% / 8h	1h 30m	$10.2M	$9.5M	75x
Short	Deribit AAVE_USDC-PERPETUAL	142.23	0	get 0.0000% / 1h	30m 11s	$216K	$398K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$21
Price spread: 0.000% → −0.024%: $2.4
Slippage, 4 orders: −$32.24
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$69.84
Costs to cover: 0.512%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; Deribit: live order book, 9 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 KuCoin live order book, 8 min ago	1.05 bp	17.0 bp −$17	34.1 bp −$341	doesn't fit	doesn't fit
Sell Deribit live order book, 9 min ago	4.93 bp	8.4 bp −$8	16.0 bp −$160	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	142.27	+0.026%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.19	−0.028%	$50K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALshort	0.0000%	1h	142.23	0.000%	$216K	$398K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.19	−0.030%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.705%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.16	−0.047%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0058%	1h	142.13	−0.074%	$825K	$389K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0079%	8h	142.21	−0.014%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.10	−0.091%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.36	+0.089%	$4.5M	$2.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.10	−0.092%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.26	+0.022%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.16	−0.046%	$325K	$450K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.23	0.000%	$64.0M	$190.3M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.20	−0.021%	$61.2M	$68.0M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.21	−0.014%	$17.0M	$64.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.23	0.000%	$63K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.07	−0.109%	$57K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.20	−0.021%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.22	−0.007%	$24.7M	$24.1M	200x	as long as short
KuCoin AAVEUSDTMlong	+0.0100%	8h	142.23	long leg	$10.2M	$9.5M	75x
Bitget AAVEUSDT	+0.0100%	8h	142.25	+0.014%	$29.1M	$18.1M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.19	−0.028%	—	$43.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.32	+0.063%	$374K	$721K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.15	−0.056%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.12	−0.076%	$107K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.24	+0.008%	$447K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.20	−0.021%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.24	+0.007%	$141K	$472K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.20	−0.022%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.21	−0.014%	$5K	$285K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.19	−0.025%	$673K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.24	+0.007%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.17	−0.042%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.24	+0.004%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	142.18	−0.035%	$10K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0171%	1h	142.31	+0.056%	$77.8M	$37.1M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.16	−0.049%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.20	−0.020%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.19	−0.031%	$193K	$263K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.33	+0.070%	$754K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0317%	1h	142.33	+0.069%	$3.4M	$2.1M	50x	as long as short