AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0013%/8h= +1.4% APRnext payment +$0.02 per $10,000 · paid last 24h +0.001%

Price spread now: Backpack against Nado−0.007%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on Nado Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 3 days (all we have)−0.296%−$30 · spread now −0.007%, 7d avg +0.039%

Together, before fees−0.293%+ Points / potential airdropNado: Active · farm board−$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.046% cheaper against Nado than usual: you would sell low and buy high (spread −0.007% now, against its 7-day average of +0.039%). If the spread goes back, that is −$5 on $10k: about 12 days of funding at the current rate ($0 a day). At the pace of the last 3 days (+0.003% in total) that is about 45 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado AAVE-PERP	144.54	0.0087	pay 0.0011% / 1h	23m 47s	$802K	$436K	10x
Short	Backpack AAVE_USDC_PERP	144.53	0.0100	get 0.0013% / 1h	23m 47s	$377K	$704K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Nado. 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 NadobpFee BackpackbpOrdersPrice spread, now −0.007%Rate

Funding earned: $2.7
Price spread: −0.007% → +0.039%: −$4.6
Slippage, 4 orders: −$14.75
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$33.65
Costs to cover: 0.317%
Break-even: 94.4 days

Slippage from Nado: live order book, 64 min ago; Backpack: live order book, 65 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 Nado live order book, 64 min ago	2.37 bp	8.8 bp −$9	17.8 bp −$178	doesn't fit	doesn't fit
Sell Backpack live order book, 65 min ago	0.68 bp	8.5 bp −$9	94.6 bp −$946	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
Deribit AAVE_USDC-PERPETUAL	−0.0511%	1h	144.45	−0.062%	$249K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0191%	1h	144.41	−0.090%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.58	+0.028%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.80	+0.180%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.72	+0.125%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.58	+0.028%	$71K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.55	+0.010%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.58	+0.025%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.244%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.47	−0.049%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni AAVEUSDT	+0.0047%	1h	144.75	+0.145%	$135K	$229K	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	144.46	−0.055%	$17.4M	$66.0M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	144.42	−0.083%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0053%	8h	144.50	−0.028%	$7.7M	$15.8M	75x	as long as short
Binance AAVEUSDT	+0.0056%	8h	144.43	−0.076%	$65.8M	$184.3M	75x	as long as short
MEXC AAVE_USDT	+0.0059%	8h	144.47	−0.048%	$31.4M	$26.3M	200x	as long as short
Nado AAVE-PERPlong	+0.0087%	1h	144.54	long leg	$802K	$436K	10x
GRVT AAVE_USDT_Perp	+0.0092%	8h	144.76	+0.151%	$456K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.60	+0.043%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.46	−0.052%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.62	+0.057%	$180K	$241K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.64	+0.068%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.59	+0.033%	$80.4M	$33.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.52	−0.012%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.69	+0.105%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.50	−0.028%	$61.5M	$65.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.58	+0.028%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.30	−0.168%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.50	−0.028%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.42	−0.083%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.48	−0.042%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	144.53	−0.007%	$377K	$704K	10x
Variational Omni AAVE	+0.0100%	8h	144.87	+0.228%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.67	+0.091%	$101K	$312K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.55	+0.007%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.41	−0.090%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.64	+0.067%	$720K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.46	−0.055%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.44	−0.068%	$932K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0179%	8h	144.65	+0.076%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.36	−0.125%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.53	−0.009%	$124K	—	100x	as long as short