Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.018%

Price spread now: Bybit against Pacifica−0.128%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$350.355% of the position

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.128%, 7d avg −0.034%

Together, before fees−0.035%+ Points / potential airdropPacifica: Active · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.094% cheaper against Pacifica than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica AAVE	141.99	0.0100	pay 0.0013% / 1h	48m 57s	$323K	$433K	10x
Short	Bybit AAVEUSDT	141.81	0.0100	get 0.0100% / 8h	4h 48m	$60.6M	$66.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Pacifica. 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 PacificabpFee BybitbpOrdersPrice spread, now −0.128%Rate

Funding earned: $0
Price spread: −0.128% → −0.034%: −$9.39
Slippage, 4 orders: −$16.45
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$44.84
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from Pacifica: live order book, 10 min ago; Bybit: live order book, 5 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 Pacifica live order book, 10 min ago	3.86 bp	9.8 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.35 bp	9.5 bp −$9	14.8 bp −$148	53.5 bp −$5,346	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
01 Exchange AAVEUSD	−0.0160%	1h	141.83	−0.114%	$10K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0103%	1h	141.70	−0.205%	$223K	$396K	50x	as long as short
SoDEX AAVE-USD	−0.0082%	1h	141.58	−0.290%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.07	+0.059%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.69	−0.212%	$53K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.67	−0.226%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.543%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.84	−0.105%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	141.69	−0.212%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	142.03	+0.027%	$4K	$102K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AAVE-PERP	+0.0066%	1h	141.97	−0.011%	$832K	$438K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.63	−0.256%	$4.5M	$1.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.01	+0.017%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.74	−0.177%	$76.5M	$35.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.67	−0.226%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVElong	+0.0100%	1h	141.99	long leg	$323K	$433K	10x
Binance AAVEUSDT	+0.0100%	8h	141.76	−0.163%	$63.5M	$184.7M	75x	as long as short
Bybit AAVEUSDTshort	+0.0100%	8h	141.81	−0.128%	$60.6M	$66.1M	75x
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.82	−0.121%	$17.0M	$63.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.95	−0.029%	$44K	$183K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.67	−0.226%	$7.9M	$15.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.63	−0.254%	$25.1M	$23.6M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.62	−0.261%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.70	−0.205%	$28.9M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.63	−0.254%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.72	−0.191%	$336K	$712K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.06	+0.049%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.49	+0.353%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.52	+0.372%	$450K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.05	+0.041%	$132K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.92	−0.050%	$122K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.59	−0.285%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.09	+0.070%	$684K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.60	−0.276%	$4.0M	$3.7M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.68	+0.483%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.82	−0.123%	$895K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.51	−0.336%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	141.93	−0.046%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.55	−0.311%	$3.3M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0261% / S −0.0408%	1h	141.89	−0.070%	$120K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0327%	1h	141.65	−0.238%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	141.73	−0.184%	$767K	$2.8M	50x	as long as short